Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Aris Mining Corp. T.ARIS

Alternate Symbol(s):  N.AMNG.NT.U | T.ARIS.W.A | ARMN | CLGDF

Aris Mining Corporation is a Canada-based company, which is primarily engaged in the acquisition, exploration, development and operation of gold properties in Colombia, Guyana and Canada. The Company operates the Segovia Operations and Marmato Mine in Colombia. The Segovia Operations are located 180 kilometers (km) northeast of Medellin in the Segovia-Remedios mining district of Antioquia, Colombia. The Marmato mine is located in the Marmato gold district in the Caldas Department, a mountainous region approximately 80 km south of Medellin, Colombia. The Company is also the operator and 20% owner of the Soto Norte Project. The project is located within the traditional mining area of California, Vetas, which is located approximately 350 km north of Bogota and 55 km northeast of the city of Bucaramanga. The Company also owns the Toroparu Project in Guyana and the Juby Project, which covers an area of approximately 42,817 hectares and is located in the Cuyuni-Mazaruni Region of Guyana.


TSX:ARIS - Post by User

Comment by invest234on Aug 18, 2020 10:59am
165 Views
Post# 31422633

RE:RE:someone understands this? (Gold X and balance sheet..)

RE:RE:someone understands this? (Gold X and balance sheet..)that explains why they reported in the news release end of q2 $73 mil cash for gcm and $14 mil cash for caldas. since gcm owns over 50% of caldas the q2 gcm financial statement reported consolidated cash of both companies of $87 mil.

caldas added $50 mil cash during q3 and wheaton will be giving caldas $110 mil cash. so gcm q3 consolidated financial statement could be reporting an ENORMOUS jump in cash!?! in addition to the large free cash from operations.

Heywood_Silvers wrote: OK, the accoutant to the rescue......

Gold X, as a 20% or higher owned investment, must per GAAP, must be recorded on the Balance Sheet annually.  GCM must take their pro-rata share of earnings or losses into account.  Since Gold X, like most other juniors, only report losses each year, GCM will take their pro-rata share of the losses.

The accounting is such for losses:  Db Earnings in Investee and Cr Investment in Subsidiary.  If GCM were ever to achieve 50% or more ownership in Gold X they would have to fully consoidate Gold X into their financials and Gold X would be shown as a minority interest in the equity portion of the Balance Sheet.


<< Previous
Bullboard Posts
Next >>