Ann: VMX Appendix 4E and Financial Report, page-16

You have to wonder why Valmec couldn’t explain the accounts like Argonaut have now done. I get it that the accounts need to be presented in accordance with accounting standards and audit requirements but a narrative would have been good.
This does explain however why the MD has bought a wad of stock. You don’t invest $200k in stock you’re not confident in. Now the Brokers put a 42c buy on the stock.
Looks like the market over- reacted. Time to buy stock before a correction.