NRZ 23.1% 1.0¢ neurizer ltd

Ann: Half Year Accounts, page-10

  1. 26 Posts.
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    The five properties might be houses in Leigh Creek. The accounts show Property, plant and equipment of $3.85m, including the "Siemens power generators, which were recorded within the property, plant and equipment balance with a carrying value of $3.4m at 31 December 2023". This means that the remaining property has a value of $450k ($3.85m - $3.4m as we sold the generators). Assume a few vehicles and equipment worth about $250k and the houses probably have a total value of about $200k.

    The generators had a carrying value of $3.4m and were sold for $2.0m. Their value was severely overstated in the accounts. I wouldn't be surprised if the other properties are overstated and probably only worth about $50k.
 
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