davo77, could you please explain why the administration cost was...

davo77, could you please explain why the administration cost was $380,000 plus $98,000 (Director paid) for the last Quarter (478K/3months = $159K per month).

As you said, it's an exploration company, which does mean: they do not need 5 staff and waist our money through the redundant staff. If you divided those 478K, you would end up with unrealistically highly paid salaries for each of SIR staff. Further, if you took into account this quarters administration cost as a base, it would give you $2mill cost per one year - Unbelievable.
It seems the last placement to sophisticated investors (of nearly 1bln shares) was done to pay unreasonably high salaries, dilute retail shareholders holdings and destroy the share price. When you compared plenty of exploration companies, you wont find any company of such high administration costs except SIR.

nj