Admin costs27 Feb 2018 09:51
Admin costs here are ridiculously low, with management also prepared to take shares in lieu of wages. Last annual admin cost were �550,229. Compare this to STI with a market cap of �4.2 million who have just posted a loss for the year of �8.3 million which was offset with a profit of �2.9 million from the fire sale of their only production asset. They are also being chased for tax liabilities in Turkey and UK and only have circa �1.6 million left which will all be evaporated away by admin costs in the coming months. While progress here is slow it's obvious that the BOD are prudent and have the best interests of shareholder at heart and are not syphoning wages at the expense of the business. Admin is incredibly low, directors renumeration the same and as soon as progress is made on any of the projects the sp will fly. IMHO