I think it would be good for the company to clarify how the JV costs are accounted for and where they are represented.
looking at the 2021 annual report there is no accounting note regarding the allocation or assessment of costs relating the JV with Cronimet. When looking at the notes to the balance sheet in the annual report there an "other receivable" of circa $329k as at 30 June 2021 which has increased by circa $200k from 30 June 2020 but no mention of what this relates to. Given the level of sales ans the costs to achieve those sales this level of movement could not relate to the JV costs for processing the LGS pile.
@scottm do you have any recollection or insight into this part of the business?
EQR Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
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