Project update?, page-288

Intresting article in relation to the debt. Just looking at KLL's balance sheets as of Dec 31 2020 we have total liabilities of 138,968,042 and total equity of 145,259,253. This gives us a debt to equity ratio of 0.957/1. This number just reflects that we have a pretty even balance of 50% debt and 50% equity.

I wanted to compare our debt to equity so SO4 but I was suprised that SO4's last balance sheet was produced March 2020 where on the top of my head, the company had 2 times as much debt as equity. I've tried looking for more recent balance sheets and hoping SO4 puts one out this month, but is is intresting that SO4 don't publish their balance sheets as often or make them easy to find. If you go to the annoucements, it appears SO4 did not release full year statutory accounts unlike KLL.

Now back to KLL and modifying our calculation of Debt to equity. We can exclude current liabilities as they well be serviced in a year and thus are not as risky as longer term liabilities. If we also exclude the 8 million provision off long-term liabilities, we are left with 125,838,568 borrowings. Now dividing that by our equity 145,259,253, we get 0.866/1. So I am not sure what yahoo's calculation entails.

I have attached KLL's bal;ance sheet from Yahoo.