Seems like creative accounting to capitalise the previous mining costs of mining the greenfield pit, which will be converted to an inpit tsf.
i would have thought that this is incorrect accounting treatment as you would deem the pit to be in production at the moment and the point at which you would capitalise costs to the tsf is when you actually stop mining..
I wonder what the impact will be to the financial report that's due to be released. My guess is they will be marginally profitable.. and not with a 50+m loss. Absolutely dodgy accounting and asic should investigate
Seems like creative accounting to capitalise the previous mining...
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