KIWI67
re: Carrying value of investment in CIA Mineradora Ouro Paz (“Ouro Paz”) Included in the 30 June 2015 Investment in Joint Venture balance was an amount of $864,448 being a 35% interest in the incorporated joint venture known as Ouro Paz. The audit of Ouro Paz was last undertaken for the year ended 31 December 2013 and we have therefore been unable to obtain audited accounts from that date.
[The text in red sounds very similar to CTR’s issue with LAR?]
[Opinion - After reading pages 4, 5, 6 & 7 of this annual report it would appear that management say they know what is going on at ground level but have no idea about the financials, sounds just a little bit too much like CTR’s relationship with LAR]
As you noted and high lighted in red. RE: Winter Gardens. I HOPE people read it.
“or to support the recoverability of this receivable” [The WG LOAN]
[This, in my opinion does not sound good for the WG deal and or the recovery of the unsecured loan to Jardin De Invierno SA]
[E&Y dated this 30-Sep-2015]
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