GREY:CLGRF - Post by User
Post by
tomgraniteon Nov 03, 2014 11:45pm
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Post# 23091118
Profits understated?????
Profits understated?????
I listened to the webcast and if my understanding is correct, they said that not all of the gold had been sold. The extract from the accounts on the PR has a difference of 3,036 ozs. If these had been sold, the profits would have been around $3.6mil higher assuming gold price of $1,200. Of course any unsold gold at the end of the previous quarter would reduce this figure. Either way, when we started Q4 there was $3.6mil in gold lying around in their safe somewhere. That's a nice start to the period and food for thought. I'll check out the position for Q2 when I have time.