I am quite sure that there are many companies out there, and a hell of a lot bigger than us, where their costs of administrations are no way near the levels that we are spending. The amount spent in the last quarterly are far too excessive IMO.
If we are to look just at one company that quickly comes to mind, "GBG" that is, their quarterly administration costs are about $1,390,000 dollars while they are many many multiples the size of us while producing and selling ores like there is no tomorrow.
In contrast, and looking at our quarterly cash flow report, we have spent close to $6mill dollars the last quarter, (That's about $450,000 and $500,000 dollars per week), and for the next one we have forecasted the admin costs to be about $4.8 mill dollars. That's approx. $400k dollars per week. That, in anyone's language, it's a hell of a big amount that we will have to meet.
How many staff do we have in the Administration side of things and/or what else does this cost cover.??
Now, and if I may, how many shiploads of iron ore do we have to sell to make a NPV to cover these costs, and how many shiploads of iron ore have we sold during that last quarter.??
Being a number cruncher, all of these issues are always in my mind. That's for sure.
Cheers Buddy
PLV Price at posting:
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