SS in response to your post on 'so called spin' and what others...

SS in response to your post on 'so called spin' and what others would have you believe.

Inventories are not just from CRE and I am still getting to the bottom of the additional detail in that rather than making rash judgements, blanket statements or insinuations.

Clearly the inventories number is miles under the value of the campaign at BGSM and combined with inventories at Coolgardie it obviously understates the gold value even further. So you have to find out what it means instead of jumping to conclusions don't you? Does that make sense?

My understanding is that ore stocks in 'situ' (next to mine or on the ROM pads) are valued at the mining cost in the inventories not bases on the gold content. This is despite the cost is largely spent by that point - a large chunk of it anyway. Of course consumables and other milling and crushing cost will not be included. Have you even looked for these answers? I would suggest not but happy to stand corrected with a proper detail on all this. There will be an estimation for gold in circuit (GIC) as well have you factored that? What actually makes up that figure? I want to know not guess.

...and the payables takes all costs incurred. This is at Laverton and Coolgardie. As I said however I am not an accountant so I am digging further to check this analysis.

Remember this is all calculated at a GIVEN POINT in time as well and does not reflect the 'blow out' picture SS was trying to portray.

We took on a cash flow monster in CRE - in terrible shape financially however the ground position and state of several pits, cash losses (tax benefit) and the Barnicoat asset made it a bargain. This had to be realized, turned around and converted into $ but the company would be much more valuable in the end. Not there yet - a bone of contention in here for those with shorter time horizon for their investment and well founded gripes in some cases - but proving the point this was a great move longer term emerging gradually if you know how to analyze what you see in raw numbers.

Does coming back at SS with hours of work shared freely make me a bully? I don't think so at all in fact I resent the term as the argy bargy started - well not from me.

I am just trying to get to the truth and doing DD and presenting that against what I see as selected and isolated numbers lacking context and put forward to suit a 'story' or 'theory' rather than a fair analysis. Make your own judgement but I feel totally comfortable offering fact in the face of adversity.

FML is not all perfect and happy to acknowledge fact as always. I have and will do so again.

Cheers,
CW
DYOR&DD