Ann: Half Year Accounts, page-18

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austinhealey64

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16/03/23

13:06

Post #: 66801185
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Originally posted by tinhat: ↑

Looking at the balance sheet there are some things I don't understand although they are minor.

1. How can inventories be non-current assets? There is $1m of non-current asset inventories. Note 5. says these are "Korean materials at cost".

2. I'm curious to know what the $1.5m of biological assets are. These have increased in value. I also see that there is a line item for Pastoral company expenses. Are ASM running a pastoral operation on the land at Dubbo? Do they own cattle or sheep?

I also note that there is $105m assigned to exploration and evaluation under non-current assets. I assume this is exploration expenditure which has been capitalised and which will need to be depreciated over time once production has commenced at Dubbo. Just shy of $1m of depreciation expense was booked over the half year.

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1 Current assets can be sold within the year. The non current could be, for example, the samples which have a value are being shipped around the world and so are not available for sale.

These will probably be written off against 1st orders.

2. Yes Toongi Pastoral Company

Last edited by austinhealey64: 16/03/23

ASM Price at posting: $1.27 Sentiment: Buy Disclosure: Held
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Ann: Half Year Accounts, page-18

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