RE: Buy or Sell17 Apr 2023 18:24
TP3,
You are talking utter nonsense on multiple fronts.
"Happy, should read @ company has, not have. It is a singular entity." Incorrect. In British English, the name of a company is generally taken to be a collective noun and therefore takes the plural form of the verb (have). In American English the opposite. Consequently both are used but the mere point you feel the need to raise it likely says all we need to know about yourself - Narcissistic Personality Disorder perhaps ?
If you do not know how to read a set of accounts, that is fine many don't, but to pretend that you do is simply insulting - NPD again ?
You clearly stated that IA have decreased by 5k in 2022. Tell us all where you see this in the accounts ?? .....If you cannot tell the difference between an asset in the BS increasing by 5m or falling by 5k then I would suggest you are beyond educating in such matters.
You were also implying that all the technical work that the company clearly stated they have carried out during the period could not have, by default, actually happened.... " In the Financial Statement, there is an interesting item under Property, Plant and Equipment. '21 this item was $41K, '22 the figure is $44K . It seems to contradict the BOD statement of all 'the work' that is being done on site, and engineering advancements".
Incorrect again. You failed to grasp the very basic concept that, in agreement with their policy (and auditors), all the costs associated with this technical work had in fact been capitalised as an IA before being transferred to Tangible Assets if and when production starts. I will give you a clue and slow it right down for you this time. Policy note below.
2.10. Intangible assets - exploration and evaluation expenditure
Exploration expenditure comprises all costs which are directly attributable to the exploration of a project
area.
When it has been established that a mineral deposit has development potential, all costs (direct and
applicable overheads) incurred in connection with the exploration and development of the mineral deposits
are capitalised until either production commences, or the project is not considered economically viable.
In the event of production commencing, capitalised costs in respect of the asset are transferred into Tangible
Fixed Assets, and are depreciated over the expected life of the mineral reserves on a unit of production basis.
Other pre-trading expenses are written off as incurred. For the purposes of impairment testing, intangible
assets are allocated to specific projects with each licence reviewed annually. Where a project is abandoned
or is considered to be of no further interest, the related costs are written off.
So TP3, there is only one person trying to sound clever and failing miserably in the process. Clearly your default position when caught grossly misrepresenting the facts on multiple fronts is to try and deflect with pseudo-intellect - I give you RR 19171 !!!
NPD