Magnetite drilling underway, page-19

You won't be able to get an accurate picture on admin costs until they have built a trading history. Generally these small resource co's spend around $1 - $1.5 million per annum on salaries, admin, compliance etc. The other cost is drilling and the drilling cost can vary widely depending on what program is running. Generally, you want to see expenditure on drilling since this means the company is active. Avoid exploration co's who do hardly any drilling, where costs are low but the costs are mainly salary and admin, as these co's are going nowhere fast and are generally lifestyle co's for a few select managers. Drilling and active exploration is critical, even if it means that the co has to do regular capital raises to maintain funding.

IMO, I would not be worrying at this stage about BCA's cash position - they are very well funded at the moment and when the money runs low (in say 18 months time) they should have no problem raising extra funds, especially if they have demonstrated some drill success.

GLTA & DYOR