Salary and employee benefits were 27.9% of gross revenue for Y/E 30/6/14 and assurance, accounting and taxation advice represented 12% of gross revenue.Total admin expenses were 62% of the gross. All excessive and unacceptable in my view.
At least it is an improvement on 2013 figures where total general and administrative expenses were 118% of the gross.
It appears that the Board don't have the capacity, or the will, to reduce these costs so the only way the company is going to turn a profit is by a considerable increase in revenue, and a change of fortune in future drilling programs with no more Defenders, Australia 11s and Gretel 11s.
- Forums
- ASX - By Stock
- SSN
- Shareholder Briefing
Shareholder Briefing, page-68
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
NEWS
Breakthrough programs slash healthcare events, driving a significant A$1.8M+ annual revenue boost
NEWS
Antler Copper Project hits major permitting milestone – air quality permit advances to final review