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clock Created with Sketch. 11/03/18
16:21
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Originally posted by PBlonde
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Of course they wrote their tungsten asset down, the price of tungsten dropped through the floor and accounting standards dictate you must carry assets at the lower of cost and fair value. The drop in price would've meant that the market value decreased and the value in use was also peanuts because it wasn't profitable at the time. That doesn't mean that the asset is worth nothing and can't/won't be used especially now tungsten has increased in price, it just means it's floating around in their books at a lower amount or to whatever they wrote it down. The board parked that project because it wasn't profitable and sought out other ventures in the meantime, as any board would do. It is profitable now and you can clearly see that they're getting it going again but now with a Lithium project they picked up, in addition to their other gold projects as well.
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He is a two-faced person no doubt about that. We should appreciate the bord for having 3 different projects. Having diversified is always better than just having one type of resource project. May be he can confuse some newbie investors and loos hands. People are not that dumb that will buy his rediculous opinion. Get a life mate.
