RE: Prem15 Oct 2020 23:39
Matt - note 16 Annual Accounts tells you what most of it is...apologies for cut and paste formatting, basically £800K is 3 parties, 2 of which have disappeared in current year as now loans or settled in shares. Balance, who knows?
16. Trade and other payables
2019
2018
$ 000
$ 000
Trade payables *
1 065
1 188
Accrued expenses
303
1 211
Payroll liabilities
38
558
1 406
2 957
All trade and other payables at 31 December 2019 are due within one year, non-interest bearing, and comprise amounts outstanding for mine purchases and on-going costs, except as described further below. The Directors consider that the carrying amount of trade and other payables approximates their fair value.
* On 11 March 2019, amounts owing to JRG Consulting amounted to $0.190 million and ZAR 0.245 million (exchange rate of 0.0694 amounts to $0.017 million). Interest is charged at 12% per annum, compounded monthly. Repayments are agreed at $0.055 million per month. At year-end $nil (2018: $0.207) was outstanding in terms of the Memorandum of Agreement.
* In April 2018 Brendan Roach loaned the company GBP 0.084 million. In the current year this loan was converted to an interest bearing loan.
* At 31 December 2019 there was an amount outstanding of $0.398 relating to consulting fees. In August 2020 most of these fees were settled thro