Hi Left...Who was the accountant...lol
Assest value matches the liabilities...lol ( to the penny...ha ) ( teasing )
Leftbrook wrote -
ASSETS
Cash 10,559
Receivables 44,254
Prepaid expenses 63,401
Net fixed assets (RCG) 19,910
Land (MGC) 99,270
Reclamation bond 1,070,000
Plant and equipment 3,053,588
Exploration assets 1,278,257
Development property 25,653,698
Total Assets 31,292,937
LIABILITIES
Accounts payable 7,270,353
Promissory notes 103,551
Credit facility 8,244,300
Asset Retirement 569,535
Deferred tax liab. 2,147,000
Shareholder equity 12,958,198
Total Liabilities 31,292,937
Read more at https://stockhouse.com/companies/bullboard?symbol=v.rcg.h&postid=29781923#WWIS6KiouvcIPKZI.99 Wango-
1) As per plant + equipment - is this current value or has any of this seen a depreciation reduction ?
2) Development property ( i will assume upgrades of machinery ) which ties into liabilities and credit facility inwhich afforded the upgrades ? If so, I think what most never account for is the actual permitting papers, some have difficulty obtaining such permitting - how does one place a
a value on, upgraded machinery + permits = very valuable.
3) Should not the Credit facility + Accounts payable be factored into = Assets = due to upgrades ?
4) Essentially how I see it, credit facility + accounts payable = is doubled up= development property.
5) shareholder equity could change in a heartbeat = due to = stock up n trading with new direction.
oh how wonderful share equity is....( wink )
6) bakng the gold in situ value into the development of assest. Is well...lol
7) imagine what an extra $5 million drilling would do and the what if, only taking into account
Forest Hills gold value = $5 mil for drilling and " if, if, if, ) the inferred gold values could be
Transferred into indicated/measured or even...probable reserves...it then placed the balance sheet
In a very hopeful stance - repeat - hopeful projection - especially if the junior could produce under
$700/T = $1,000/ounce x 500k ounces...( blue skies )
This is how I look at the balance sheet...
Placing myself in the shoes of a buyer...looking beyond the " par value " assest vs liability.
I maybe wrong...but, it's how I would assess this project if, i were interested in taking it over.
Again...that was only factoring Forest Hill, no Duffy, no Tangier.
Not investment advice.
Cheers !