Interesting to look at the valuation numbers behind these sort of announcements:
Carrying Value of the 80 man camp as per the 2018 Annual Report Balance Sheet = $3.7M
Sale of 51% interest of Wilcherry to AGS in 2016 for $2M implies a value of ~$700K for the remaining 18% now sold (assuming no increase in the underlying value of the project - which is another matter altogether).
Total implied value for both assets = $4.3M
Total now received for sale of these assets = $1.5M
The lower number is probably more accurate and confirms that "assets" on the balance sheet held by junior companies should always be regarded with a lot of scepticism.
Interesting to look at the valuation numbers behind these sort...
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