tretchikoff, I was amazed to wee this in their company...

tretchikoff, I was amazed to wee this in their company update:

"Coretrack also has approximately $100,000 worth of equipment yet to be sold at its Bibra Lake Premises and has paid $1.08 million for further equipment that has recently been manufactured or refurbished at international factories. These items include a mud tank system, 2 x PZ9 equivalent mud pumps and a 10000 PSI Blow Out Preventer (BOP). The Company are actively seeking buyers for this equipment which is either new of fully refurbished."
_________

So, they sold gear at their auction, and then *bought* $1.08m more gear- either new or second-hand, to sell again. What is with their wildcard strategy? Surely there is not much profit in buying up second-hand stuff, repairing it, and then flipping it (the auction they had was not particularly successful before), so why would they go for this again? What will the $1.08m expenditure turn into this time? The above ANN quote actually looks to me like a "for sale" advertisement for the gear.

And just a little grammar annoyance: "The company are actively seeking..." The Company is a corporate person, Directors, and as such the word should be "is", not "are". A petty annoyance, I know, but these Directors are presumably well paid to know this stuff... unless, of course they are paid in CKK shares, then not only would they be trying to flog off second-hand gear- they'd be wearing second-hand clothes!