Ann: FY23 Financial Report and Appendix 4E, page-24

There are other major liabilities, a portion of which would relate to Atlantic Gold, such as

1. accounts payables - $66.2m
2. interest bearing liabilities - $11m
3. current provisions of $10m, much of which relates to employees total remuneration that would have to be paid on termination
4. deferred tax liabilities - $11m, but perhaps this may never have to be paid if operations cease (so I am not sure about this one).

Besides cash, the only other major asset that could be readily monitised are the financial assets of $20.5m.

Their balance sheet looks pretty skimpy once you remove the cash and GMD shares - plant and other assets are not valued at much and may have nil value (eg past exploration expenditure).

loki