Ann: Incident at Deflector, page-72

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kyngdominion

502 Posts.

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12/08/18

15:18

Post #: 34883928
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Originally posted by eshmun ↑

“Andy well has been on care and maintenance since November last year and hasn't effected our results so far no cash drain there -“

According to the C&M plan announced by the company, the company will keep the underground workings dewatered and the major infrastructure intact to preserve the value of the Andy Well mine. This will be costing money so your assertion that so far there is no cash drain there is incorrect. Then there are government tenement rentals, shire rates and statutory minimum exploration expenditures for the tenements that comprise the Andy Well mine and Gnaweeda exploration project tenements which add to the basic C&M costs.

Then there is also currently about $19 million of rehabilation liabilities which I assume are spread between Deflector and Andy Well, a portion of which will need to be discharged if they close the mine .

The Andy Well mine and Gnaweeda project remain liabilities (until they can be sold or developed) and could also need to be impaired more going forward, which is not a good look for the company’s Profit and Loss bottom line, even if people are aware of the origin of such losses. Let’s not also forget that DRM lost $74.225 million in FY2017. There is an old saying in this game, which is more often than not a true saying in my experience. Once a dog always a dog. Something to keep in mind before buying into a rosy future which hasn’t yet arrived.Esh

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DRM won mine of the year and Craig Oliver award in Feb 2015 and Nov 2015 -????
"So your assertion that Once a dog always a dog? - Is incorrect!! -
https://www.asx.com.au/asxpdf/20151103/pdf/432pqzsf0whlwg.pdf
https://www.asx.com.au/asxpdf/20150225/pdf/42wvwxrgwly616.pdf

An announcement on Andy Well will be released very shortly so lets wait and see what they do with it before going on with how much it is costing them to up keep it in a saleable condition......They will not close it down so the 19 million rehabilitation scare is a ridiculous assertion...

DRM Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
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Ann: Incident at Deflector, page-72

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To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels