….material exploration findings from a diamond drill program….My...

….material exploration findings from a diamond drill program….
My take on it is they have deliberately used the word “material”! As a CPA we were taught in the audit process that an item of revenue or expense was “material” if the value was 5% and usually up to 10% of the net assets of the company. So in IR1 case 10% is roughly $100m usuing the MC as can’t really use true “assets” as they don’t really have any assets other than what the market values it’s assets in the ground. $100m would give it close to a a$1/share. So @dum how could the “material” actually refer to something negative? If there is nothing in the cores they wouldn’t have used the word “material”, it would only be used in a positive sense. If you get a massive bad debt of an actual $1m it’s “material” in a negative way as it’s measurable vs say a company with net assets of $10m. I have never ever read an exploration company announcement using the words “material exploration findings” when nothing was found. You clearly are Dum(b) to post such illogical statements. Back up your arguments with concise logic especially when you are a bitter non holder, so fark off and let the rest of us enjoy our day in the sun.