RE: Subs Accounts. Some of the missing JV monies ?24 Jun 2023 04:27
@Lovelyboy; really appreciate that information. Don’t know if this helps, taken from the Interims;
17. Commitments
At the time of the award of the Monchetundra mining license a royalty payment was calculated by the Russian Federal Reserves Commission. 20% of this payment was paid in December of 2018 and the remaining 80%, or RUB 16.68 million (approximately £262,000) to be paid by November 2023.
During 2020 the Group entered into several lease agreements to lease mining plant and equipment. As at 30 June 2022 the average lease term was 3 years and present value of minimum lease payments £643,370 (30 June 2021: £518,553).
18. Contingent liabilities
In 2021 the Company had invested RUB 37,180,000 (£584,591 at a prevailing exchange rate at 30 June 2022) in respect of the Nyud-Moroshkovoe and other potential licenses and projects as per the agreements in place with Rosgeo and ERDC.
Further investments are at the Company's discretion. The Nyud-Moroshkovoe project is being used by the Company as the template for the remaining assets, which will only be evaluated after the successful conclusion of the Nyud- Moroshkovoe project.