Depn & Ammort based on mine life, being the ore RESERVE not resource.
From memory only 3.5 year reserve. Look at the WDV of P&E in the FY07 accounts. This balance has to be written off over 3.5yrs if they dont increase ore reserves in this time.
This company will only recoup YTD accumulated losses ($32m approx) with a miracle!
Tricom know this and (btw they know the metrics imho better than anyone else due to their part in the capital raising and the option underwriting - i.e. they know it 'inside out'..lol)
My humble advice is to try financial metrics on steady state operations with 5-10yr mine life with known grades etc or try utilities.
Hope for exploration success and the irrational exuberance a few drill holes can produce...
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