If , as some posters are quite adamant about that the SIG is going to give Kolosori back by the 22nd Feb and that senior people in the mines dept have told them this etc etc etc. Then why would the Directors agree with writing the entire amount of the asset off in the accounts. Obviously they had nothing concrete to convince the Auditors in the slightest that there was any reasonbleness in carrying ANY of it as an asset.
I think the February stuff is blizzard of hope wishful thinking. The SIG as far as i can see hasn't even told everyone what the assessment process will be... this was previously indicated that they would have released this last Sept i think from memory.
The Balance sheet look like it has been cleaned out to reflect what it is, an attractive Shell compnay with No Assets and No Debt with a good spread of Shareholders, a nice secretive Hong Kong structure and $100 million in tax losses.
it will be interesting to see what the next move is...
AVQ Price at posting:
14.0¢ Sentiment: None Disclosure: Held
