what really happened !

PRU for the six months ending 31 December 2008 incurred

Exploration expenditure- not written off $13.152 million
Translation difference - not written off $ 6.652 million
Loss per condensed income statement $ 3.896 million
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Total underlying loss $ 23.700 million

The accounts say "the recoupment of costs carried forward "
in the balance sheet "in relation to areas of interest in exploration and evaluation phases are dependendent on successful development and commercial exploitation or sale of the respective areas."

The total amount for all periods of expenditure Mineral Interests Acquisition and Exploration expenditure accumulated in the Balance Sheet and show as a non current asset is $56.775 million .

This means that the accumulated loss of $56.775 million needs to be recovered ( by profits ) before any dividend could be considered for payment by the company.That could take quite some time to recover such a large amount of money.

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