I live in Adelaide and am currently undertaking a property development project. After visiting one of Adelaide's largest engineering firms whose offices are located in the heart of the city, i noticed... well, guess who? Argonaut Resource's Head Office!
Not a big deal, but when you check the annual report and see to he office lease cost jump from $55,427 to $100,141 (from 2020 to 2021), it begs the question... How can a penny stock justify such exhorbitant rent, when probably all that's required for pretty much a 1-man show is a serviced office in the inner city suburbs at possibly one quarter the rent.
A frugal company? I think not!
Oh well, get ready for the next cap raising.
Ann: Higginsville - Swarm of Lithium Pegmatites to be Explored, page-7
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