"I suspect costs are being capitalised to make their operations look better than they actually are (which is what many other goldies do). More will be revealed when they release their next quarterly statement."
Loki, there is already sufficient information to reconcile what has been reported in their quarterlies with the FY13 financial statement. I've given it a good shot with my notes at home and you can too, so let's discuss the numbers if you want.
I think your suggestion that "costs are being capitalised to make their operations look better" is incorrect. The latest quarterly report includes all-in sustaining costs per ounce for Mt Monger in FY13, expensed plus capitalised, including corporate overheads and royalties.
IMO the company is being honest and the numbers add up.
Yes, Murchison costs have been capitalised to June 1st as that operation is being ramped up. But again, because commercial production was only declared near the end of FY13 (June 1st) there is sufficient financial information to demarcate Mt Monger and Murchison operations.
So let's do it and investigate your claims.
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