Yes , apparently that was the case / expected a number of months ago , but it came through as 100% when the extension was granted around mid this yearAnyone understand, 8 ii, *50% relinquishment off*.
I would be happy to pick you up from the airport mate in the KIA![]()
Thanks Xerof and Obe wan, still not 100% clear, but nothing is atm.Yes , apparently that was the case / expected a number of months ago , but it came through as 100% when the extension was granted around mid this year
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The mumbo jumbo of lawyers placed it in the ‘turbo’ option of *limbo* back in May. Hence why I had dozens of questions which few appreciated at the time. Later, the company in it’s various channels, looks to have corrected and clarified that original May semantic mumboNo mention in the full year report of a director being charged and convicted of an offence involving a jail sentence. Anyone else think that's strange?
Thanks Xerof and Obe wan, still not 100% clear, but nothing is atm.
You need to get back on the turps mate, that post was way too sensibleView attachment 17757
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@Helios
My assessment is as follows
Costs associated with Tenements that are expected to be exploited are carried forward as an asset in the Balance Sheet until such time as the tenements are producing revenue (at which point I suspect the costs would then be progressively written off against that revenue by some appropriate methodology and in an appropriate timeframe)
AVZ have made an assessment on the costs it is carrying forward for tenements PR4029 and PR4030 and believes it can no longer carry those costs forward and have expensed a portion in the current financial year of $643,339 (costs written off/expensed through the the Profit and Loss)
Effectively they have assessed they are not going to be able to recoup that portion of costs in future years through revenue producing activities and therefore must be written off in the current financial year
That's the technical side of it
The question that is not answered (and what you probably want to know) is "WHY" on assessment this year has this portion of the costs associated with the tenements of $643,339 been written off?
There may be a number of reasons (part of the tenements have been re-assessed and are unlikely to be productive in the future, the company is abandoning plans to develop part of the area etc etc etc )
Going by other comments it may appear plausible that the size of the tenements 4029 and 4030 have potentially been changed
If in fact the case is that the tenements are now smaller in size then AVZ would have to proportionately write off some of the carried forward costs in the year that it happens (eg if the tenements were reduced in size by say 25% then one might logically expect 25% of the carried forward costs would need to be written off)
That example is probably a bit simplistic but you get the idea
So in summary going by what others have provided and what I've gleaned from the report I too suspect there has been a change in the boundaries for 4029 and 4030 and this has triggered the associated write off of a portion of the carried forward costs related to those tenements in the current financial year
Would definitely like to know the explicit reason(s) for the write-down of the asset and the methodology used to calculated the final $ value of the amount expensed through the P&L
Hope that helps a bit
Cheers
Nut![]()
I too was about to say thatYou need to get back on the turps mate, that post was way too sensible![]()
All in my opinion only -G'day Cruiser,
I wouldn't be surprised at all to see the renegotiation of the Cath deal - just saying!
Cheers
Nells.
I was going to say Wino for ceo! and get this project moving.I too was about to say that![]()
Christ I've had enough political intrigue out of the DRC to last two lifetimes.
Can anyone be bothered watching the brief on the council minutes and tell us if anything of merit occurred?
Cheers cruiser I must have wasted a day of my life watching this religiously every Saturday for the past 12 + months.At 19.32 they talk about the Battery Council (CCB), I understand all is still in draft. (I prefer draft over canned)
Further they are going to build footbridges at the airport for people with reduced mobility.
To be continued.
You need to get back on the turps mate, that post was way too sensible![]()
I know, I know....I too was about to say that![]()
While on the subject, a quick shout out to the man with the shrunken head and
Vidiye Tshimanga
Jean-Felix Mupande
Samreen Kumandan, Raidel Perez
Cyndor Tumbular, Aisha Smith
Laura-Jane Cornish, Sabrina Tab
Jean-Tite Oloumoussie, Nicola Siyo
Kudakwashe Tsingano, Patricia Kazaka
Annemarie Roodbol
shareholders who don’t like being fucked up the arse by them
It was nominations for a director. If we all get behind one candidate there is a slim chance of getting someone from this forum on the board. Worth a shot imo.I was going to say Wino for ceo! and get this project moving.
I think there was reference to the paperwork in the agm announcement.![]()