They really should provide an indication of the size of the non cash adjustments as they would have a fair indication of the size.
"are revising the cost assumptions used to calculate the Net Realisable Value (NRV) for its historically mined stockpiles. The revised cost assumptions combined with re-scheduling of processing of stockpiles with gold price assumptions matched to the consensus gold price curve will result in NRV adjustments for the end of year result. Other adjustments to full year profit include a write-down of exploration and evaluation assets for tenements no longer held".
I am long and wrong, but I fear the sector will continue to lag while costs are rising. The price of gold is not were the issue resides, they need to better manage the cost base. I am thinking we should see cost pressures begin to abate.
RRL Price at posting:
$1.62 Sentiment: None Disclosure: Held
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