Inventory is valued differently as prices change, simple to...

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kittyboomboom

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20/03/17

06:48

Post #: 23469414
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Originally posted by ContraryJ ↑

Selling inventory was not misinformation. I try not to say the same things over and over like you with 65 Million in Sales. Annual report inventory $56.643M H1 report $43.543M A decrease of $13 M or 25%. Plus half one production + 7.58K tons. Sold 6.431KT. so inventory decreased by 13 Million while just over a Kton of product was added. If this did not raise over 13m Million in cash could you please explain what it did. Even if the K ton was all CE add another $2 M. I do not understand, you seem to lose all idea of what these reports mean. It is even more interesting if in annual report you read note 16 and H1 note 12 and see how makeup of inventory changed. I am sure you have already done this with your great understanding of issues

"During the half year ended December 31, 2016 inventories of $117.5m (2015: $112.1m) were recognised as an expense; all of which (2015: $110.8m) were included in „cost of sales‟. There has been no write-down of inventories held to their net realisable value (2015: $1.3m). "

So from the above statement in note 12 of H1 report we know all expense of inventory has already been recognized. That none of the 13 Million was a write down. So the entire decrease was turned into cash. There was no disinformation except in what you said.

"Good to see your no longer spreading disinformation by saying the company was selling inventory to raise cash.n" Total disinformation by GOOFY.

Do yourself a big favor. Go to the library and get yourself a good book on reading financial reports. Do not look up just term on internet. Terms in a vacuum are misleading. You need a high level overall picture and then work down through details. You need to be told that inventory may or may not have expenses included and when and how to find out. You need to understand how depreciation can be applied. What are the many things that "Good Will" can be used for. You do not need to become an accountant. Do not even need to have passed accounting 101. These reports are there to give an honest picture. Much better than words from executives. Learning the terms helps allot. Seeing the whole picture is what is needed. If you see the picture and forget a term you can always look term up. It is hard to see the whole picture if it has never been laid out clearly.

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Inventory is valued differently as prices change, simple to understand.
Not to mention the makeup of those inventories ie: they sell ALL Nd/Prd so inventories is bascally Ce and La with some SEG which they told us tanked in value by two thirds.
You are consistently the most inaccurate poster I have seen on any thread EVER, SMSL is finished so why are you still here?
Eagerly awaiting your next attempt at justifying your constantly rehashed trollop

LYC Price at posting: 8.9¢ Sentiment: Buy Disclosure: Held
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