OTCPK:LLEN - Post by User
Comment by
Tjpsimoneon Oct 08, 2013 10:57am
143 Views
Post# 21799314
RE:RE:Confusion
RE:RE:ConfusionThanks for response Far- I might be missing something, but... Nowhere in that release does it say that Tai Fung will wash coal. I am caught up on 2 things: From the 10-K: "We own two washing facilities with an aggregate annual coal-washing capacity of approximately 480,000 tons. The facility at Hong Xing washes coal mainly for third parties (i.e., non-affiliates to the Company.) The facility at the DaPuAn Coal mine only washes coal from the DaPuAn mine" "In April 2012, we sold our interest in Ping Yi mine and coal washing plant back to the original owners. DaPuAn only washes coal from its own mine. We have considered this as part of the total service provided within DaPuAn before the coal was sold to customer. Therefore, there was no washing for DaPuAn reported separately." So there were only 2 facilities in 2013 washing coal, Hong Xing, and DaPaun. The DaPaun revenue is not broken out into coal washing but is rolled up into Mining Revenues. TaiFung is never ever mentioned as a coal washing facility in any of the 10K'sI have read, and I go through them quite diligently. I always had Hong Xing as 100% of the coal washing revenues in my spreadsheets. Now TaiFung, we are told, is 19%... all my info is directly from the 2013 10K