LOW LIGHTS from MD&A Other expenses for the two and eleven month period ended December 31, 2011 were $915,298 and $4,713,968, respectively as compared to $1,490,017 and $2,303,825 in the prior year. The increase for the year was mainly the result of: higher general and administrative expenses as a result of the increased activity in the Company's operations and additional overhead following the acquisitions of BCC and RAC (+$840,000), interest and costs associated with the Company's 9.5% and 12% debenture (+$1,642,000), higher stock based compensation expenses (+$187,000), one-time transaction costs associated with the BCC acquisition (+$383,000) and higher equipment interest expense mainly as a result of the BCC acquisition (+$187,000). The increase was offset by a favourable impact of fluctuations in the US$/CDN$ foreign exchange (-$110,000) and a reduction in the write down of mineral properties (-$710,000).
WHO THE HELL PAYS 12% INTREST ?????