No license means no mining, no production and no income. In the meantime current remuneration drain means big cash problem next year.
From the 2016 Annual Report:
Executive Directors:
Justin Richard$608,321pa
H. Shanker Madan $77,220pa
Atmavireshwar Sthapa $181,374pa Non-Executive Directors:
James Phipps $72,977pa
Vikas Jain $11,806pa Company Secretary:
Elizabeth Hunt $111,947pa
And from the last quarterly:
OPERATING COSTS
Overhead burden is being reduced through tight administrative management and cost sharing arrangements with joint venture partners.
I would prefer to read something like this ( Trek Metals Ltd - latest release - Director Remuneration ):
The Non‐Executive Directors of Trek are fully committed to the successful restructure and redirection of the Company and continue to perform their duties unpaid.
Managing Director, Bradley Drabsch has agreed to a 20% reduction in fees, to $160,000 per annum, as the Company remains focussed on maximising the amount of money available for investment in the Kroussou Project.
Lets hope "Operating Costs" show a little more depth and detail in the next quarterly.
AUQ Price at posting:
1.4¢ Sentiment: Hold Disclosure: Held
