RE: The Other Place18 Nov 2019 21:36
Evening all.
After a respectful sabbath hush on here, I can report that the sunshine has thankfully returned today and I have not been eating fish!
Now I don't much do balance sheets as being a rockhead I do orogens rather than origami, but moved by idle curiosity over a recently reported 'commitment' of the company, I decided to have a try. It wasn't hard to find a ~$16m item in the 2018 annual report as 'Mineral exploration and evaluation' in note 8 as a 'non-current asset' on page 18 and being the aggregated total expended over the years to date. A corresponding, updated amount and it's reclassification is clearly explained on pages 12 and 26 and in note 9 of the 2019 annual report. In no way (IMO) can this past expenditure be claimed to be a future commitment.
Hence I conclude that the recent conclusions and claims by Septo to be erroneous.
Now that was a boring post, ha, ha! I promise not to repeat it, LoL!
Regards to all Scotgolders, R.