Accounts - How do you read them?1 Jul 2025 14:49
So I'm not an accountant, and a lot of comments by the auditor are concerning but appear in most AIM company accounts.
Welcome interpretation on the following;
The accounts state only £1.2 cash left at January 2025, interviews and RNS after January stated contingency allowed to cover for 2nd site visit and road repairs and were fully funded for the drill.
Please look at page 38 of the accounts - remember £5 million raised - £4.5m approximately after broker fees.
Administrative expenses (953,263)
Project expenses (770,340)
Operating profit (1,723,603)
Total amount spent £1.723m out of approximate £4.5m raised. If all the funds have gone, they are not shown as expensed.
Remember after January 31st 2025 after these accounts go up to - numerous times by Hamilton we are fully covered for the drill.
All the money is not showing expensed in the accounts. Is the drill money ring fenced outside of the remaining £1.2m cash.