SG&A at IPTis very excessive...for first 9 months total G&A expense was $2.2mm vs. revenue of $13.7mm and mine operating profits of $3.2mm. So hungry G&A devouring over 16% of total revenue and 69% of profits! Yikes! Mining is capital intensive and IPT never going to make much progress on all the rosy forecasts mgmt making with mgmt total compensation eating up most all profits that business generate operationally...appear to me main beneficiaries of IPT are located in Vancouver C-suite so it is really shareholders getting mined with all the IPT paper flooding market. I like mexican silver pesos but only way i get long IPT is if company shut down all offices in Canada and move c-suite and all management functions to Mexico. Such a move would save hundreds of thousands of useless office rent in Vancouver minimum and if c suite co-locate with mine site in some trailers, c suite could provide better oversight of mine operations... after all how can a leader supervise subordinates at mine operations located south of mexico city, mexico from climate controlled office in Vancouver, bc?