Yeah. People are crazy to think $400k on staff is ok in a quarter for this company, To put it in perspective SPD (I only use them as they are developing a PGM project) had $88k staff and $218k corporate, so a third of KGM. SLS (only used because they acquired a project last quarter and are actively exploring too…. $88k staff cost and $238k admin.
Kingsrose are costs are extortionate for the type of/ size of company.
I’m saying this as a newer shareholder who likes the company because of its value vs. cash. Otherwise I would have run a mile. Let’s just say the price is right. The company wouldn’t be in this position if it was being managed for maximum cash preservation. Got to be honest with ourselves here, it’s a massive issue and a deterrent for new investors.
I actually wonder if they’ve had issues with reverse takeovers. With that amount of cash there will be private companies wanting to take their projects to IPO and see KGM as a good way to do it… it would mean a board overhaul though for KGM.l, which probably kills the deal.
Yeah. People are crazy to think $400k on staff is ok in a...
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