Why do they hid this, and not advise shareholders of true value.
Noticed page 26 of annual report states:
Revenue from operations $49m
Resulting in a NPBT of $23.6m
Yet page 5 states they produced 73000 ounces of gold-TBR 55000 / RND 18000
If they sold all the gold at $1400 that equates to a revenue of $102m
Costs remain the same, resulting in a NPBT $75m plus.
Yes the tax payable would substantially increase, but why mpre openly tell us you opted not sell excess gold and keep it as inventory---at cost, but give us a pro forma idea of the companies true worth.
cheers
npbt $75m--market cap $120m
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