Cut and paste of Rockjumper's post on the SPX thread - well...

Cut and paste of Rockjumper's post on the SPX thread - well worth a read here

How do the various players at Youanmi rate in terms of their exploration expenditure vs their corporate overheads and staffing costs?

To give you my viewpoint, if Corporate Overheads and Staffing costs are more than 50% of their overall spend (as per their ASX Appendix 5Bs) then I start to wonder exactly what a company is up to! It is my view that a genuine explorer should actually have their corporate costs below 33% of their total spend although I acknowledge circumstances may affect these percentages and ratios.

I view the Youanmi players are all similar-sized companies in terms of staffing, development and work programs, so how have they faired for 2019 so far? Please note the financial figures below are rounded for ease of presentation (DYOR).

In the gold medal position was SPX! A genuine explorer and watching the investor dollars! SPX had spent over $4.2 million during the year to date with over $3.55 million going into exploration. Their company overheads come in at around $0.65 million or 16% of total spend - well done!!!

In second place was RXL. A little slower off the blocks in terms of exploration but seem to be catching up fast. Also an explorer with over $3.5 million spent during the year to date with over $2.1 million going into exploration. RXL's costs come in at $1.4 million or 40% of total spend - getting there and still below that magic 50%. Nice work!

Bringing up the rear (no pun intended), and at no surprise to the investors, was VMC. Venus has spent over to $2.45 million during the year to date, with only around $1.1 million going into exploration. Their company overheads and staffing costs come in at a very comfortable $1.35 million or 55% of total spend! Yeah, naa!! While close to the 50% mark VMC show remarkable consistency over recent years - I went back and checked their 2017 & 2018 figures (just to be sure) and they come out at between 55-60% on overheads/staffing in those years too. So I suppose the next question is - are lawyers fees exploration or a corporate overhead? I guess you're exploring for something!

There you go, just something a little different to get you thinking - keep up the good work SPX.

Break out the sirloins and champers - welcome to the weekend!

*This post in NO way constitutes financial advice, do your own research and forum users should consider seeking their own legal, financial and other advice to check how the information in this post might relate to your own unique circumstances.This is a cut and paste of Rockjumper's post on the SPX thread - well worth a read here