Considering the drilling completed in the past year, management...

Considering the drilling completed in the past year, management didn't release any information updating the market with the latest resource/reserve report. This information would be a first priority on my radar. If the resource/reserve is not there, just return the money to shareholders and call it a day. Unless management can some how identify future opportunity at greater return on the money.

If there are activities planned in the pipelines, the company should still consider staffing requirements to suit the activity level, looking at the amount of work completed last year and information released it is hard to understand what the company has been doing that justifies the admin costs. The drilling is complete by contractor and paid already, cannot attribute that to KAR the company since it has not release any information or any objectives going forward.

I am going to email the above concerns to the directors addressing their responsibility toward shareholder returns.
I might be a small shmuck shareholder, but I worked hard for my money to be wasted into this company with no return, especially with a cash backing per share so high.