sb1, no, they can't order the company to change the accounts....

sb1, no, they can't order the company to change the accounts. However, if they feel that the accounts are wrong, they just sign off saying that they are not in accordance with the Corporations Act etc. etc. and possibly say why - much better for CDU to keep things proper. As I said, sounds a bit nit-picky, but that's the law.

btw I made a mistake in an earlier post. CDU listed $35m as received from the underwriters as "Borrowings" in the quarterly, so CDU doesn't have $100m - they effectively started the qtr, after the remaining monies were received from the underwriters, with about $65m after underwriter's costs.

Sorry, don't have time to look for the 2.2sg.

But for hoots, the value for accounting purposes of the stockpile is the lower of cost or net realisable value. It is certainly not the value of the contained metals. So if it cost $1.90 a tonne to mine and transport the stuff, plus say 25c/t for overheads, assays etc, the value of the pile would be $2.15/t, regardless of the grade: except that, if the grade was so low that you couldn't extract a $2.15 of profit from a tonne of the stuff, it would have to be marked down to its nrv. Don't think it would include exploration or development costs, though. Direct costs and direct overheads, from memory.