The Company obviously has a vastly different idea of controlling costs from my own.
In this last quarter to September 30th they have spent $4.577 million on Exploration and Administration.
This is more than in any of the previous four quarters and in one of those quarters they actually drilled two wells.
This expenditure is ridiculous for a company that has only 6 staff and there appears to be no activity described in the Quarterly which could require this level of funding.
What could our Board and management possibly think they are doing?
MEL Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
