late mail - and no wonder!!, page-2

yep,

dead right there Alpha. Just finished reading the report myself. Loss down 64%.

Big deal, excluding the one off $8m write-off for 2003, it is up 33%.

I hold, and intend to do so for little longer.

Could help noticing the level, of the "staff and executive consultancy costs" (up $500,000 or 50%) travel and accom expenses (up 50%) directors fees up 30%, office cost up 1,200%.

Exploration and devel down 50%.

I can see where our money is going.

As I have said before, I wish I had listened to the punters on Hot Copper on this one. This company is going nowhere fast.