second strike, page-36

@Trigan7

My appologies I had missed the interest bearing liabilities, they were not in the quarterly report. That looks more like a bank overdraft type arrangement, since they seem to be using it to shore up the cash balance for day to day operations. However, they have about the same value locked up in environmental bonds that they can not 'use' so is not current assets. The detailed notes on this financial report are more complicated than I had remembered.

Regarding the trade and payables. I guess I need to be really careful here because I am not an accountant so don't read too much into this. I understand it to mean these are financial commitments to be met before the end of the reporting period for services and goods procured. I read this as being payments to contractors and for processing BGS and materials used to ensure the current quarters production. The notes in the report describe this as:
(r) Trade and other payables
Trade and other payables are carried at the fair value of the consideration to be paid in the future. Trade and
other payables represent liabilities for goods and services provided to the Group prior to the end of the financial
year that are unpaid and arise when the Group becomes obliged to make future payments in respect of the
purchase of goods and services.

Now the same amount is shown in the quarterly reports, so I asume it is a short term bills to be paid as you say, but it is the opporational expence required to generate the quarters revenue. However I do not see anything explicitly stating this in the report, it could be an unpaid debt carrying over but this would seem strange as it is not listed as interest bearing.

I checked quickly another small miner I own and saw the same entry under liabilities, which was again comparable in size with the quarterly production and development expenditure. Maybe we need to get an accountants oppinion on this.