The last annual report
The carrying amount of inventories at 30 June 2009 was $13,808,636
Inventories are measured at the lower of cost and net realisable value. (Inventories are measured at cost given the POG).
At June 2009
Stockpile – at cost 8,623,317
Gold on hand – at cost 4,054,023
Gold in transit – at cost 1,131,296
Gold on hand at 30 June 2009 has a net realisable value of $6,800,154 [2008: $10,766,343] measured at spot
rate. The gold in transit at 30 June 2009 had a net realisable value of $1,897,618 [2008: 1,653,852].
AUSD POG is roughly the same as now so net realisable value should be a similair multiple of inventory amount, 1.7.
Ore stockpiles would require treatment but are valued at cost of mining but net realisable value should be a multiple >1.7.
I was unsure if the increase in inventory booked as revenue was due to an accounting change or from stockpiles becoming gold on hand.
Now they have 9m cash + 19m inventories= 28m
If its 9mcash + 19 *1.7=41.3
That makes it a lot more interesting given market cap is 45m.
Cost is determined on the following basis:
• Gold on hand is valued on an average total production cost method;
• Ore stockpiles are valued at the average cost of mining and stockpiling the ore, including haulage;
• A portion of related depreciation and amortisation charge is included in the cost of inventory; and
• The valuation of gold in circuit is based on our Toll Treatment Agreements which incorporate the best
acceptable metallurgical practices.
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Last
$3.42 |
Change
0.090(2.70%) |
Mkt cap ! $179.4M |
Open | High | Low | Value | Volume |
$3.40 | $3.42 | $3.40 | $4.059K | 1.188K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5694 | $3.40 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.90 | 5000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5694 | 3.400 |
1 | 7243 | 3.390 |
1 | 10000 | 3.340 |
1 | 1000 | 3.330 |
1 | 10000 | 3.240 |
Price($) | Vol. | No. |
---|---|---|
3.900 | 5000 | 1 |
4.200 | 114 | 1 |
4.300 | 125 | 1 |
4.480 | 1250 | 1 |
4.600 | 2000 | 1 |
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