latest announcement?, page-2

Pulse,
the reserves have to written off over the projected life of the reserves-that is fair enough.
However, when GTM bought the two subsidiary companies, the mill was already written off in their accounts (and the current accounting standards don't let you revalue something in a big hurry even once it has been written off-and we all thought accounts were meant to show the real value of the assets carried on the balance sheet!), and
the value of the exploration dirt, which would have also been in the accounts at zip-that is fair enough.
Cheers,TAS