Exactly!!
Holders don't seem to realize that most of the $2 mil is pre- spent on the types of costs that you mention.
There are also vehicle costs like rego, maintenance and fuel, insurances for vehicles and buildings, payroll taxes and a multitude of others like licence fees to councils and Fed Governments. All these are necessary to operate and are payable in advance for the coming year.
In reality we only have enough to buy a few shovels so that we can all meet at the nearest pub, and organize and good scratch around the tenements by hand.
When a listed company is below $2 mil they are on the bones of their arse and cannot afford even a packet of Orange Slices for the AGM.
We need a deal with a major who can pay for the privilege of being in such a prospective area of Australia.
Lockitt
ICG Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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