DRR 6.95% $4.15 deterra royalties limited

Ann: Half Year Results Presentation, page-4

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    Confusing set of accounts....some thoughts.How could an asset generating circa $96m be valued at just $8m.Why keep the revolving credit facility when its costing $1.2m a year to keep.why pay circa $7.5m in expenses ($3.5m just wages and fees only) to collect a cheque?.why pay $500k for "business development" when nothing has happened and isn't it their job anyway to do this function (ie they have a full time business development manager who has bought nothing to the table as yet)?
 
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