Two fifths of nothing? Is $150,000 NZD two-fifths of nothing? Especially for a company with no income?
That $150k came from shareholders. The $300k+ pa that Gary pays himself comes from shareholders. The MD of a shell, with no revenue, is paying themselves inflated BHP wages.
Redmoor is only doing well because SML are involved. There is no reason why NAE could not have raised capital to actually explore and develop Redmoor without giving 50% of it away.
SML Appointment of additional UK Director, page-29
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