Goldbugbob, the carrying value of assets is very important, esp when equity is 3.1m and the only asset is 3.2m already spent exploration exceeding equity.
Many folk will just look at assets, debts and equity, not the makeup of this.
I mearly pointed out czn needs Lynn Lake to work or its curtains. They can not just keep raising cash, spend it and keep it as asset. At some point this will need to be written off. If carried exploration was less than equity no problem if it did not workout.
I balance view and have posted prior Lynn Lakes worth. Lynn Lake is the goodwill you mention, this is not reflected in the books, its worth around 100m npv on present resource so adequately covers the carried exploration. So hopefully after this cr they get to unlock its potential.
CZN Price at posting:
0.4¢ Sentiment: Buy Disclosure: Held
