Ann: Half Year Results December 2015, page-7

True, but they say they are sitting on cash and bullion of $16M usd, accounts showing $9M. Residual in bullion? Happy for that, especially if PoG goes north in the coming half.

Looking at well over 5K oz in that inventory at 31 Dec PoG, and we're +$100 since then, and correct me if I'm wrong but is bullion in inventory carried at cost and not market, so my oz may be off considerably.

Good to hear some differing view though......aids consideration.