Do you have benchmarks to compare their spend against? It’s quite possibly totally normal in Canada and the isolated locations they are drilling at. Probably better to provide basis for the criticism before making an issue of it. They do explain that they’ve accelerated expenditure with better rig availability and show the allocation to each project. But more to the point, the market cap at start of the quarter was around $60M, it’s now ~$350M, so nearly a $300M increase..not a bad return on ~$5M-$6M exploration and evaluation expenditure?
Ann: Investor Presentation, page-53
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