MRR 12.5% 0.7¢ minrex resources limited

Ann: Change of Auditor, page-39

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  1. 4,638 Posts.
    lightbulb Created with Sketch. 990
    Doubt they would have $10m now and I’m thinking closer to $9m if that, in 14 years I think they have raised about $20m and now have let’s say $9m left with zero accomplished apart from managing to grow the SOI 3 fold diluting every body bar themselves of value. I’m actually waiting for Mick or someone else to come up with a good argument against what I’m suggesting as the perennial classic lifestyle company as nothing from the past suggests anything otherwise although I would be very happy to have to eat my words at some point. Burning let’s say in around about figures of $11m of shareholders money in 14 years equates to about $700k in wages per year allowing to throw in a few Big Mac’s and Nut Sundaes when they arrive back in office from the routine round trips out on the range getting a few pics for the website. Funny I should say that hey as I was looking at the team out in the field in some of their pics and what struck me was they looked much more like they had been dragged out of the Marble Bar Inn and thrown some clobber to look like workman as they definately didn’t look like hard working toilers judging by nearly all 7-8 of them had well earnt what looked like to me beer bellies not akin to sweating it out in the field in WA.
 
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