OTCPK:NNDIF - Post by User
Comment by
ZincDink1on Mar 02, 2017 11:11am
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Post# 25919398
RE:RE:115 690 000 $ in Impairment loss for 2016.
RE:RE:115 690 000 $ in Impairment loss for 2016.Previous slaughter on plant value, at least the CFO had some basis in reality (no sure zinc concentrate). The 50 M$ this time had no basis - GC said we had 5 years supply! We may not know the cost, but we had supply.
Back of napkin calculation based on KoreanZinc suggests plant should be 500 MUSD (lets make 1 Can$= 1 USD for arguement). 50 Mshares, plant should have $ 10 value. GC originally offered $ 4/share, I want $ 5.
I would have thought CFO (if he was honest) may have added back some of the previous impairment. Silly me.