Big V - at present the expenditure can be utilised in this form as an intangible. However, should Golden Eagle not be re-signed then it would need to be removed from the balance sheet. Most companies don't bother with such practice but Richie is desperate - it needs to the comapny to look better than what the situation really is - very very desperate. Hence why Messina is in the offing - Otsana sophs are getting a near 100% return for their mates rates 1 cent share cap raising in the hope they will support the Messina float.
To understand what they intend on doing, you need to think like them. They bleed what they can out of the market to line their own pockets - that is the industry - no conscience, they think it is the God given right. This little O & G tale wagger has gone above and beyond what most do - have scant regard for shareholders - their only care is how deep they can get their snouts into the trough.
Just my opinion - DYOR!!!
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