Ann: Melbourne Mining Club Presentation - Sept 2015, page-28

well thanks eshmun for the education into the investment merit in Tribune ..long overlooked by me because of the lack of liquidity ..and not by you ..to your credit.
Tribune are being so cute so take into inventory ( of finished goods) the gold production at its cost of production (( the mining the haulage etc)) and not to take it into the usual place of ""bullion on hand""
this sleight of hand amounted to the difference at 30 June 2014 between $169.5m and $94.5m being the cost of producing the gold on hand and its then market value = $75m
well thank you for pointing out this unseen value in its enterprise value .
But it is arguable that its accounts are misleading.
If  you are feeling a bit cheated Autosime  ...I understand.
I suggest you write to ASIC and say
the 30 June 2014 Tribune Resources accounts are misleading.
Note 36 indicates Total Current Assets of $91.72 million
but
Note 10 indicates Current Inventories of $98.5million
Note 8 indicates  cash    of $11.04 million
Note 9 indicates   receivables of $0.6million
Note 11 indicates  tax refund due   of  $1.8million
Furthermore you could complain to ASX that an uninformed market in TBR shares exists because of the accounting irregularity above.