Information for respectful debate, page-127

I’m not sure what your seeking to address Benrich but if it’s the sapphire deposit that they were attempting to mine in 2010 it’s status is quite clearly articulated in the annual report 2017 page 60.

If there was any issues with that asset impairment would not the asx / asic be involved? If they cannot bring the mine to fruition as intended due to pricing for sapphires being poor and if they cannot onsell the lease to someone else for $1.2m it would meet an impaired asset definition one would think. If it is in shareholders interests for them to impair the asset until they can sell the mining lease for more than $1.2m then so be it.

In any event the company has moved
On I have been around since late 2013 and the whole discussion around an impaired sapphire lease has barely raised its head until now.

In fact it means we have $8.9m in cash plus a potential $1.2m pending.