Nice forensics.I have decided the amount is immaterial and once...

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16/03/19

10:52

Post #: 37783276
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Originally posted by Spraks: ↑

I'll give a complete breakdown:

Ore Stockpiles: $530,000
Employment and Labour Expenses: $296,657
Chemicals and Consumables: $20,653
Earthmoving: $55,471
Laboratory Expenses: $45,963
Ore Processing: 99,685
Total = $1,048,429

Less production costs in 2018 FY so far: $34,194, that gives us the total inventories of $1,014,235

2016 FY

2017 FY

(Note 28 is pretty much Note 27 in the 2016 Annual report)

2018 FY
Now that gives us the question, what is the $34,194 cost of sales including? It is directly expensed from inventories but it doesn't specifically say what % is from each inventory item. This cost was directly attributable to the 5 tonne sale as shown below:

It also keeps confusing me as to how we only got $61,511 for 5 tonnes shipped. I don't know much about the selling of concentrate so i'm hoping someone can shed some light on it. Say tin was $20,000 per tonne and we had 80% concentrate, does this mean we get $16,000 per tonne or is there some threshold where any % above an amount is $20,000 per tonne?

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Nice forensics.

I have decided the amount is immaterial and once we are producing the Auditors should easily be able spot anomalies in inventory movement and classification. IMO that is better for me than getting inflated stomach acid looking for Skeletons in the Closet.

Good Lord I hope the whole Circus of this cursed project is now behind us. It has certainly costs us significant dilution over the past 18 months

ANW Price at posting: 1.5¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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Nice forensics.I have decided the amount is immaterial and once...

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