MYL mallee resources limited

Ann: Half Yearly Report and Accounts, page-2

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    Page 6: Note 5
    The cash held in Myanmar by Bright Mountain Resources Myanmar Limited (BMRML) - (100% subsidiary of Mallee Resources Limited)
    as at 31 December 2021 (US$2.349 million) and the funds received by BMRML subsequent to balance date (US$9.851 million), are to
    be transferred to the parent entity Mallee Resources Limited subject to the approval of the Central Bank of Myanmar (CBM). As of
    the date of this report, transfer requests have been submitted to CBM and are pending CBM’s approval. To date US$100,000 has
    been transferred to Mallee Resources Limited


    So 'subsequent to balance date' means today and reflects the earlier announcement:

    Mallee Resources Limited (“MYL” or the “Company”) is pleased to
    announce that all proceeds from the US$30 million divestment of its
    interest in the Bawdwin project and the shares in BJV Company
    Limited have been received. US$12.2 million of the divestment
    proceeds were paid directly to the Company’s wholly owned
    Myanmar subsidiary, Bright Mountain Resources Myanmar Limited,
    ahead of transfer to Australia

    I read this as meaning the sale is fully transacted, but the money still resides in the BMRML account awaiting approval from the Central Bank of Myanmar. Not out of the woods yet IMO.
 
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