Member Info for ranger104uk

Stevie80y

The year end report highlights the period it covers. Up to End of calendar year 2024.

Iceman

It's is as you say misleading when it doesn't have to be that is my point really.

If someone came in from the cold and looked at it they would indeed see no revenue and no cost of sales. So basically nothing going on.

We on the other hand no the position the company was at and is at. So what you see is clearer in our mind.

So having deferred costs would in my opinion be better. Or a footnote.

Iceman

Thank you for your understanding and your input our discussion. Many in here wear blinkers making it hard to have a real conversation.

At some point they will have to announce and show they are on the gold. There are many reasons to be shy about publishing in the early stages. But updates are few and far between.

I do read and try and digest and understand what many in hear talk about in share trading. So what Oops said I read and look at what he says and how the trades pan out.

We know theres 88,000,000 shares sitting with a price on them as such. I pick up and learn from what he says as see if that does indeed play out.

I don't mind what others think or say as look is it stands up to scrutiny. Opinions differ facts do not, but here they are very hard to find.

Not a clever morning. 0.47p inbound

Oh Dear Snowman Chill you're melting.

All we have said is correct in some way or another.

I'm well aware of how business finances work during start-ups but they all differ. Pretty. Sure we all know there are going to be costs. However like so many I've seen is they try and get their money the have put in back out as quick as.

They will have done their workings on where they need to be by given times. Mining is no different to building a manufacturing facility it takes time and a lot of money. You don't keep a handle on it your skint and your not ready to produce.

There will be different levels of money needed to reach the gold than while on the gold. But everything needs a cost and a sales figure to work out if your getting there or not. Break even.

It helps everyone to know how much is being spent and how much is being produced. Should be on every mine tea shack wall.

Rns updates need to be way more timely than before.

Not saying there hasn't been and mining this year just bit the information of production is limited. Shouldn't have to be looking or asking for it.

Snowman

I did say the 1st 4 sales were in the 44k of last year.

But if you look at the figures in the half year report there are no figures to indicate any work has been done. The figures are the ones painting the picture here not me.

Point to the figures that say how much has been spent on the 2 months of mining.

I'm purely pointing out there are no sales figures or indeed cost of sales as in monthly costs. The work isn't being done for free.

Sample the bags of ore sitting.

Morning Big h

I do get your lodgic that with no sales there on the other hand be no cost of sales. But P and L and balance sheet (reports) are ment to tell the story of the company's current state of play.

As we discussed they can defer them but money will have left the company during that period. You don't just pay bills without accounting for it.

We know there have been 4 dales of Ore, the company has said this. But the on only revenue we have is the £44k in the year end report. Seems a bit shy. One publish set of grades the others inline with expectations.

Hence if I was looking at a set of account for a company that was mining for 2 month of a 6 month report (and the 1st 2 months at that) I'd expect to see bills and wages being paid. It just looks as no work has neen done.

They are glaring omissions that could have been clarified by deferments but there are no mention of any.

Oops the recent high of 0.85p which was brief and when the mine closed (temporarily) at the end of Feb it was 1.43p.

I would think that should be the 1st target price to get back to where things were.

So MrH with their 2 months of "Bagged" production ore sitting, why (if cash was so short) wasn't that taken to the processing plant and cashed in?

Bags doesn't mean sold, mined does mean costs. There has to be at least one and on the PnL to offset that you.

MrH

There are no deferred Assets so no increase in the balance sheet to show any stockpiled ore. (that doesn't mean this isn't any as they were mining for 2 months of this period).

So there is a cost of sales as there would have been incurred labour and materials.

So your argument is that the stockpile (bagged) hasn't been sold which would be correct no sales. Ok there is no revenue. But the cost of sale (as in producing the ore) still should be there. We have been told there have been at least 4 sales of ore/gold but not told when.

So purely saying that because there has been no sales during that period doesn't mean there hasn't been an incurred costs. The period up to the end of 2024 shows sale and costs. Sales only being 44k with the cost of sales being 216.7k. (sales being 2 months of Nov Dec). Cost of sales being for that period of the report.

The process operation is done at the processing plant. (3rd party) They take their cut straight away.

Mineral ore is traded when its quantified. What is being mined hasn't been proceed.

Polo

I get what you are saying. That is why it's important to record figures correctly on PnL and Balance sheets.

It also shows and highlights cash flows better.

So cost of sales include direct labour and materials to produce the goods to sale. If you buy in lets say 5 cars to sale you can defer the purchase and deduct these as you sell them, but the sit on your balance sheet as deferred and come off as sold.

Digging material out is a cost. At this point as you haven't sold it there is no value as such (you don't know what its worth) so no figure can be deferred as an asset.

Polo

Jan and Feb they were mining. This is within the 6 mths of the report.

It word have to be recorded as deferred cost and shown on the balance sheet.

Looking at it on my phone so not an easy read. I look at it again later.

MrH

Have you prepared P&L accounts?

MrH

Cost of Sales Nil

Cost of Sales was just deferred then?

Strange that 6 month revenue is Nil there was 2 months of mining and processing before the rains.