Paris, We agree on the 59m in the total comprehensive profit...

Paris,

We agree on the 59m in the total comprehensive profit line item.
I agree the the foreign currency translation equals the difference between the profit/loss of $22m and total comprehensive profit of $59m. The difference between the two equaling the 37m seen highlighted in the appendix i've highlighted below.

I'll try give my two cents worth on why the 37m has fallen into foreign currency translation and not into cost of sales line item and a few other line items as @All4One doesn't seem to understand how the foreign currency translation fits into the overall P&L.

The BRL:USD Actual spot rate in FY16 was weaker against the standard (average reporting rate) that we were quoted each month. It's not uncommon for large entities to use an average rate for accounting purposes. But come year-end a true-up needs to occur. Thus BDR's cost of sales was higher (using reporting BRL:USD Rate) than what the spot rate actually was each qtr. See below for more information between the two (actual spot vs reporting rate). If BDR was using the spot rate each month for FY16 then the cost of sales would've have been significantly lower than being reported. Hence come year-end a revaluation needs to occur to true-up the costs in the books. Nothing unusual as i mentioned above, it comes down to what the business determines is the reporting rate each year.

When determining the cost of sales for BDR one must take into account the spot vs reporting rate to determine the true AISC.

Paris - i do agree the current account receivables vs Account payables doesn't look healthy, but i'm unsure the timing or agreements we have with vendors to pay our liabilities. It could be we've received a $20m invoice to pay for part/all of the upgrade in plant which we have 12 months to pay. So for me half yearly/qtry reporting is useless to determine the cashflow unless you are the CEO/CFO who know these details. For accounting purposes when an a receive is sitting within Current Assets or Current Liabilities it means it's due/falls due within 12 months. So all this talk of Credit Raising is unfounded based on information we currently see in the Balance Sheet.

DYOR - my 2cents worth, the company is a screaming buy at the current prices as per simon jacksons comment on the video from yesterday.