children of an idle brain

Exeter Resources (XRC.to) (XRA) doesn’t cut all the costs it could

This morning Exeter Resources (XRC.to) (XRA) gave us one of those “we’re cutting costs” NRs that explains about the lay-offs and salary reductions its decided to run on order to slow the burn on the cash it has left (now U$23m, was U$81m as at end 2010, so basically they’ve spent U$10m a year on……what?). It then goes on and on about the Caspiche project and the apparent benefits which we’ve heard about for the last five years and we still don’t care (seriously, the story hasn’t changed a jot).
But right at the end we’re told…

 If you have any questions regarding Exeter, or would like a complete presentation forwarded to you, please contact Mr. Rob Grey, VP Corporate Communications at Toll-free: 1.888.688.9592 or by email at rgrey@exeterresource.com.

 …so it’s clear there’s plenty of fat left to cut at XRC if they want. I mean, who needs a VP Corp Dev/Comms? Jobs for the boys par excellence.

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