Member Info for artrader

BricksSA
Many thanks, I checked the notes from last years accts and it was VAT and GST owed - Having had some experience with SHG regarding VAT not being re-paid, do we have an issue here too? AU 369861 due to the company equates to a lot of VAT and perhaps over a year. Perhaps if the answer is VAT & GST you could ask if they are receiving timely refunds from the government. Difficult question but once bitten!

Anyone any idea what the current assets are made up from under Trade and Other receivables au369,861 ?
There’s no trade receivables, maybe some VAT owing ?

BOOooom hope you bought on that last dip

The beginning of the end of the crisis is over China are back in the market:
By Tom Seaman March 20, 2020 10:02 GMT
Prices for Russian headed and gutted (H&G) pollock are rising again with Chinese plants back processing, sources told Undercurrent News.
They've also bought Corn and Aeroplanes from the US ...... oil is next on the shopping list I presume

China are back in the market, they've just purchased Aeroplanes and Corn ....... is oil next?

China is back in the market for Corn but stand by because they can't live by 'bread' alone and they'll be after PMs at these levels

SMIN make respirators but they’re down today ... toilet paper sales will not increase in the mid-term but hand-gel will henceforth BYOT
Meanwhile there maybe more buyers circling SHG

He probably remembers making all of those contracts....
Resolute adds to US$ gold hedge book
30,000 ounces forward sold at average price of US$1,670 per ounce

Resolute Mining Limited (Resolute or the Company) (ASX/LSE: RSG) advises that the Company has forward sold 30,000 ounces of gold at an average price of US$1,670 per ounce

That’s what I said but it may yet dip again... wait for the dip

DON’T buy when it’s dropping NEVER sell into a rise but BUY into a rising trend........Why didn’t I listen? Oh well 7.60 isn’t a bad in especially with that fixed price contract price for 1/2 of production this year.

BYOT seems to be cleaning up

OK it’s really tanked now and people are selling gold to pay for all the underpriced stocks. I’m going in even though my 7p target hasn’t been reached......I hate rollercoaster rides but you can’t take it with you and I’ve got a bit of a sore throat.

Actually it would help if the gold price fell. I’ll explain ....SHG have a contract remaining to sell 40,000 ozs (37500 outstanding) at approx $1530 oz it was $1244 oz but they wrote off $8.4m in losses in 2019. - I guess they paid this sum to the buyer? and upped their price to $1530.
If gold reaches $2000 oz they’ll have to write off another $12m this year or simply give the buyer another $12m and prolong the contract.
So as they say “be careful what you wish for”
I know the extra they get from selling the contracted gold elsewhere at higher prices will help but it costs more in Royalties and VAT which in the current climate will they ever see again?

The devils at work 999 @ 666
You couldn’t make it up!

Good call!
You can see for yourself that the miners have dropped too inspire of the gold price. Those with good dividend paying fundamentals will be bought back first. HOC and TSG
I’ll wait for 7p for any other.

I bought from September onwards from 7-9p and topped up at 12.5p in February before the year end figures were cooked I mean published. I got out at 10.4p at 8.01am on 28/2/20 .......... I did 6 months of hard labour!

Surely the junior miners would be the first casualties if the market really tanked. Gold price would fall too and very quickly once the run for cash started. There’s a heck of a lot of profit tied up in gold that could be used to buy back an oversold market at a better return. I’ve pencilled in HOC and TSG to recover quickly if the market really drops and I might buy back into SHG again if they can get through the next quarter without any surprises or u-turns.

3-D Seismic results West Rustavi
WR-16az re-start
Multi rate testing results WR-38Z
WR-51Z sidetracked
Take your pick of news from above...it’s all good

You can sugar the results up as much as you wish but in the end you have to look at the bottom line. This is the result of their non-cash and adjustments.
Total Equity DOWN $9m
Total Assets DOWN $16m
Current Assets DOWN $22m
Property Plant Equipment DOWN $17m
Cash DOWN $5m
Retained Loss UP $9m
PS
If you want to hide $20m of current assets in total assets then make sure that your total assets aren’t down $16m too
PPS
If current liabilities are greater than current assets then it means that a business is counting on future profits or new investment to pay its bills.
Current Assets $39m Current Liabilities $48m
The directors have decided not to pay a dividend this year but have awarded performance bonuses of $1.2m to Eric and Luke for bringing home a $10m LOSS on their record production at record gold prices.....bewildering.

Please think of me as a supplier and you owe me $20m and I want it now..... how can you pay me today?
This is the true position by the way and they cannot pay their suppliers and instead paid down one of the loans only to get more loans.
Finally what figure do you have for net current assets not including pre-payments and VAT owed?