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SmartCentres Real Estate Investment Trust T.SRU.UN

Alternate Symbol(s):  CWYUF

SmartCentres Real Estate Investment Trust (the Trust) is a Canada-based fully integrated real estate investment trust. The Trust develops, leases, constructs, owns and manages shopping centers, office buildings, high-rise and low-rise condominiums and rental residences, seniors’ housing, townhome units, self-storage rental facilities, and industrial facilities in Canada. It is focused on development, ownership, management and operation of investment properties located in Canada. The Trust portfolio features approximately 195 strategically located properties in communities across the country. The Trust’s subsidiaries include Smart Limited Partnership, Smart Limited Partnership II, Smart Limited Partnership III, Smart Limited Partnership IV, Smart Oshawa South Limited Partnership, Smart Oshawa Taunton Limited Partnership, Smart Boxgrove Limited Partnership, ONR Limited Partnership, ONR Limited Partnership I, and SmartVMC West Limited Partnership.


TSX:SRU.UN - Post by User

Post by vmldemon Nov 05, 2011 9:27pm
336 Views
Post# 19213049

Question for the board

Question for the board Last quarter report under notes 5 below it shows about $124 millions in minerals properties.Are these proved goodies in the ground or just how much the company spent in explorations? TIANotes to the Condensed Consolidated Financial StatementsFor the six months ended August 31, 2011(in thousands of Canadian dollars, unless otherwise noted)STARFIELD RESOURCES INC. | 105. Mineral PropertiesFor the six month period ended August 31, 2011 Ferguson Lake Stillwater Moonlight NevadaProject Project Project Projects TotalProperty acquisitions and maintenance costsBalance, February 28, 2011 $ 3 ,208 $ 7,727 $ 3,877 $ 1,000 $ 1 5,812Nevoro acquisition - - - - -Write-down of mineral properties (Note 5d) - - - (1,000) ( 1,000)Maintenance 1 06 84 - - 1 90Balance, August 31, 2011 $ 3 ,314 $ 7,811 $ 3,877 $ - $ 1 5,002Exploration costsBalance, February 28, 2011 $ 1 08,840 $ 429 $ 531 $ - $ 109,800Compensation (Note 8) 8 44 75 35 - 9 54Air support including helicopter moves 5 46 146 - - 6 92Exploration drilling 4 95 449 2 8 - 9 72Camp support costs, including fuel 1 68 23 11 - 2 02Analytical and geophysical services 8 47 - - - 8 47Balance, August 31, 2011 $ 1 11,740 $ 1,122 $ 6 05 $ - $ 113,467Mineral properties as at August 31, 2011 $ 1 15,054 $ 8,933 $ 4,482 $ - $ 128,469For the six month period ended August 31, 2010 Ferguson Lake Stillwater Moonlight NevadaProject Project Project Projects TotalProperty acquisitions and maintenance costsBalance, February 28, 2010 $ 2 ,988 $ 7,361 $ 4,427 $ 1,000 $ 1 5,776Nevoro acquisition - - - - -Maintenance 1 17 92 61 - 2 70Balance, August 31, 2010 $ 3 ,105 $ 7,453 $ 4,488 $ 1,000 $ 1 6,046Exploration costsBalance, February 28, 2010 $ 1 06,144 $ 44 $ 104 $ - $ 106,292Compensation (Note 8) 4 41 85 54 - 5 80Air support including helicopter moves 1 71 - - - 1 71Diamond drilling 8 15 - - 2 3Camp support costs, including fuel 8 3 53 55 - 1 91Diamond exploration program 4 - - - 4Recovery of diamond exploration program expenses ( 4) - - - ( 4)Analytical and geophysical services 6 09 117 281 - 1,007Balance, August 31, 2010 $ 1 07,456 $ 314 $ 494 $ - $ 108,264Mineral properties as at August 31, 2010 $ 1 10,561 $ 7,767 $ 4,982 $ 1 ,000 $ 1 24,310a) Ferguson LakeThe Company owns a 100% undivided interest in the Ferguson Lake nickel-copper-platinum-palladiumcobaltproperty, subject to a 3% net smelter royalty (“NSR”) on mineral production, a 3% gross overridingroyalty on diamond production and a $50 annual advance NSR payment. The Company has the right topurchase 1% of the 3% NSR for $1,000 up to 180 days after receipt of a positive feasibility
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