RE:RE:RE:RE:Look in the quaterly reports. Fourth Quater 2013Namsoc,
So it seems the way these obligations were accounted for and disclosed in the presentations were a bit different from the financial statements which reduces cash flow from operations for the changes in working capital which this is.
At the end of the day the obligations were recorded and disclosed as current liabilities, therefore expected to be paid with 12 mos.
When it comes to guidance and investor presentations it became less clear. Perhaps the company could point out that guidance cash flow from operations is both an estimate and prior to any consideration of working capital changes. I don't know maybe they do and I am wrong.
I am generally very satisfied with the quality of disclosure this seems like a bit of a bump.
Big picture, as long as the company manages to its target debt levels, increases production, and runs a safe operation things should continue to get better!