Hi @midastouch0707, in my previous reply post I forgot to mention the numbers for Cosmo Gold's capitalised exploration (note 8 in their annual report). Tenement E38/3457 was surrendered during the year & the capitalised expenditure for E38/3457 was written off.
The value of exploration expenditure (as an asset) is a BS number unless costs are recoverable through asset development or a sale. IMO it would be reasonable to subtract the $2,058,559 exploration expenditure from the Cosmo assets on the basis that costs recovery is an unlikely probability. Net Liabilities would then be a more realistic but much less attractive number than the ($8,833) shown in the annual report.
According to the annual report (pg.2) Cosmo submitted a term sheet on 07/11/23 for a back door listing on the ASX which might offer some contributing reasons why the $1.44M loan repayment obligation to ADG is being expunged via debt for equity transfer.
- Forums
- ASX - By Stock
- ADG
- Is Cosmo Gold trading while insolvent
Is Cosmo Gold trading while insolvent, page-3
-
-
- There are more pages in this discussion • 48 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADG (ASX) to my watchlist
|
|||||
Last
0.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.826M |
Open | High | Low | Value | Volume |
0.7¢ | 0.8¢ | 0.7¢ | $50.59K | 7.196M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 13152752 | 0.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.8¢ | 6880101 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
17 | 13152752 | 0.006 |
23 | 7436100 | 0.005 |
21 | 28719337 | 0.004 |
37 | 37425828 | 0.003 |
8 | 48500000 | 0.002 |
Price($) | Vol. | No. |
---|---|---|
0.008 | 6880101 | 16 |
0.009 | 5204299 | 10 |
0.010 | 10805519 | 12 |
0.011 | 3083333 | 5 |
0.012 | 2017000 | 4 |
Last trade - 15.16pm 21/06/2024 (20 minute delay) ? |
Featured News
ADG (ASX) Chart |
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online