The admin expenses in the quarterly are a continuing concern and IMO for the size of the operation are excessive. NXS had $4.708mm for the quarter and $22.764mm for the year. In comparison Karoon had $3.605mm for the quarter and $14.004mm for the year and it is a more significant entity actively managing exploration on 3 large projects, 2 of them in South America.
ANZ
read the 1/4ly. it's great news, page-2
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