You are right about the difficulty determining what the numbers mean.
Regarding the stockpiles, Based on my spread sheet assumptions we will barely recovery the mining costs if your assumptions based on dec 31st values are correct.
I wonder if that is what has sparked the need to more accurately define the stockpiles. The rough valuation might be too close to the wind for the auditors.
To get to that number I needed to back out corporate costs, capex and creditors. That drew my attention to how much corporate costs are ($400k/mt). $4.9m last year and $4.4m the year before.
Any ideas where our $4.8m goes? Directors and other key management personnel are $1.8m
HGO Price at posting:
7.6¢ Sentiment: None Disclosure: Held
(20min delay)