Ohhhh Tubber Tubber Tubber....read and LEARN before you post!...

Ohhhh Tubber Tubber Tubber....read and LEARN before you post!



"Key judgments - exploration and evaluation expenditure The Group capitalises expenditure relating to exploration and evaluation where it is considered likely to be recoverable or where the activities have not reached a stage which permits a reasonable assessment of the existence of reserves. While there are certain areas of interest from which no reserves have been extracted, the directors are of the continued belief that such expenditure should not be written off since feasibility studies in such areas have not yet concluded, unless there is a risk of losing the right to tenements to the local authority, or the tenements are in the process of being sold or relinquished voluntarily. At 30 June 2017, the directors assessed the exploration expenditure and decided to impair the same by $1,110,195. Capitalised exploration expenditure is carried at the end of the reporting period at $1,488,109 (2016: $1,807,726)."


Did you really think the company has had all this work done over the past few years for just 36K? lol