georgetown alluvial operation sold

in the last balance sheet, the company showed $1.6m worth of assets for sale. watso is not too certain how the company arrived at the figure - but this would have related to the georgetown alluvial show.

in the end, it seems that the company accepted an offer of $200,000 for the show, plus a royalty capped at an extra $150,000.

the company paid approx $3m for the show, plus there would have been extra costs.

directors get paid good money to do their job - but how come they pay $3m for something, which two or three years later, can only be sold for a fraction of the price!!!!