Ann: Investor presentation, page-437

This post is my own opinion, I present this information substantiated with charts and links to the original data.
This information is relevant to the thread as it refers to presentation analysis, being made in the threads name, it independently clarifies information presented within, is a substantial part of the topic being discussed regarding the financial viability of SCONI and LG being willing to commit.

Links to the data being the 5B quarterly Reports for both companies.
https://australianmines.com.au/asx-announcements/#irc_content_anchor
https://ardearesources.com.au/announcements


This table below is the actual data of Australian Mines Staff Costs and Admin and Corporate costs over the last 6 months

Australian Mines
5B Quarterly costs
	31-Jan-22	29-Apr-22	28-Jul-22	27-Oct-22	30-Jan-23	27-Apr-23
Staff Costs	$332,000.00	$289,000.00	$312,000.00	$512,000.00	$250,000.00	$225,000.00	$1,920,000.00
Admin & Corporate Cost	$335,000.00	$967,000.00	$460,000.00	$512,000.00	$190,000.00	$566,000.00	$3,030,000.00
							TOTAL
TOTAL COST	$667,000.00	$1,256,000.00	$772,000.00	$1,024,000.00	$440,000.00	$791,000.00	$4,950,000.00

This table below is the actual data of Ardea Resources Staff Costs and Admin and Corporate costs over the last 6 months

Ardea Resources
5B Quarterly costs
	28-Jan-22	28-Apr-22	19-Jul-22	28-Oct-22	31-Jan-23	27-Apr-23
Staff Costs	$121,000.00	$188,000.00	$172,000.00	$100,000.00	$215,000.00	$115,000.00	$911,000.00
Admin & Corporate Cost	$198,000.00	$145,000.00	$267,000.00	$347,000.00	$408,000.00	$220,000.00	$1,585,000.00
							TOTAL
TOTAL COST	$319,000.00	$333,000.00	$439,000.00	$447,000.00	$623,000.00	$335,000.00	$2,496,000.00

You will note that Australian Mines has the (Double+-) highest Staff and Admin costs comparatively.

This table below is the actual data of Exploration and Development for Australian Mines taken from the 5B over 6 months

Australian Mines
5B Quarterly costs
	31-Jan-22	29-Apr-22	28-Jul-22	27-Oct-22	30-Jan-23	27-Apr-23
Exploration & Evaluation	$97,000.00	$60,000.00	$105,000.00	$71,000.00	$63,000.00	$10,000.00	$406,000.00
Development	$561,000.00	$1,557,000.00	$1,827,000.00	$1,135,000.00	$940,000.00	$782,000.00	$6,802,000.00
							TOTAL
TOTAL COST	$658,000.00	$1,617,000.00	$1,932,000.00	$1,206,000.00	$1,003,000.00	$792,000.00	$7,208,000.00

This table below is the actual data of Exploration and development for Ardea Resources taken from the 5B over 6 months

Ardea Resources
5B Quarterly costs
	28-Jan-22	28-Apr-22	19-Jul-22	28-Oct-22	31-Jan-23	27-Apr-23
Exploration & Evaluation	$672,000.00	$1,103,000.00	$1,645,000.00	$888,000.00	$2,065,000.00	$1,120,000.00	$7,493,000.00
Development & F/Studies	$1,845,000.00	$976,000.00	$895,000.00	$1,081,000.00	$2,008,000.00	$1,264,000.00	$8,069,000.00
							TOTAL
TOTAL COST	$2,517,000.00	$2,079,000.00	$2,540,000.00	$1,969,000.00	$4,073,000.00	$2,384,000.00	$ 15,562,000.00

You will note that Australian Mines has spent half that of the peer developing the resources they own.
I am asking why is it that management of Australian Mines justified the latest capital raising on exploration expenditure and they have not yet done any drilling to expand the resource that has been noted as insufficient and needing expansion.

These are justified questions and the comparison being used is to compare like with like.
RED