Ann: December 2016 Quarterly Report, page-57

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binwood

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31/01/17

10:21

Post #: 22239812
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Originally posted by All4One ↑

On the missing millions.

I contacted Paula yesterday (Customer relations at BDR) about the unaccounted money. After a lot of number crunching I agree and came to the decision these questions needed to be answered.

I wont post the email but Ill give you the gist.
There was a cash difference.

The difference included a big increase in stockpiles, I think that makes sense if you stockpile then that takes a lot of time and money. Consumables increase in stock. Tax pre payments and creditor payments.

Apparently this Quarter just saw a lot of creditor reductions, stockpiling, tax prepayments and stocking up of consumables.

As I said this is just a production update and not a full financial statement.

So on the upside this coming together of all these costs which are not accounted for in the AISC does not happen often.

We have a good stockpile of high and low grade ores, payed down debt, reduced other creditors debt, payed tax all in the one quarter, then you have the Real/US dollar.

Hope this helps people, I know there will be some who will still carry on but remember the POG is very low right now and the company is paying down debt as well. If the POG rises a hundred dollars which is in a real time scenario then the profit will flow.

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Yeah except that I am pretty sure "stockpiling" was the reason given last quarter too which worzel proved incorrect with a series of posts. Dodgey accounting for mine.

BDR Price at posting: 29.8¢ Sentiment: Hold Disclosure: Not Held
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Ann: December 2016 Quarterly Report, page-57

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