GITENNES Exploration (ase:GIT) Message Board

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Gold/Mining/Energy : GITENNES Exploration (ase:GIT)

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To: Sudeep Naidoo who wrote (1082)	4/23/1999 6:07:00 AM
From: E. Charters	Read Replies (1) of 1092

$800,000 on lawyers, accounting, salaries, and communication. I can see why mining companies cannot find ore. They spend all their money in the office. One can argue that mining companies of course need all this corporate side. But in 1964 the Texas Gulf Sulphur company was finding 7 orebodies in North America and they had precisely one field geologist. Their exploration budget was $500,000 per year. That would be about 7 million in today's dollars. How many people did they pay 353,000 in Salaries to screw up the exploration in Peru that year? It would take only one person to really make a mess. I can't see why they needed 7 or 8. The part that take me aback is the 122,000 for accountants and auditing. That is some bill. Someone must have gone over every item in the shoe box twice. tsk tsk.. Shareholder communication: 258,000.00 That is a lot of talk. For 258,000 I could put my tailings pond into production and make 5 million. I would estimate my accounting bill at about 5,000. EC<:-}

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