NewPeak has not done exploration for years. The investments are used for the payments to directors.
David Mason is getting most of the money as CEO
and
director Brian Moller through the law firm Hopgood Ganim.
Quaterly 220 000 my be used or even more, meaning burn rate of about 1 million per year.
With current cost structure and market value all the investments end up for the directors
when debts will be converted to shares.
Money is spend like in a bigger company, but shareholder value is destroyed.
Costs are from quaterly report
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL5g%2B1zhDwv%2Flp8rFiGug%3D
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