RE:RE:Unanswered questions at the Q2 Q&AHello Janota,
The Land account had a balance of $127,000 on January 1, 2019. Additions of $516,000 were recorded during 2019, producing a balance of $612,000 on December 31, 2019. During 2020, the financial statements recorded additions to this account of $654,000, getting us to $1,082,000 at December 31, 2020.
As noted previoulsy, a further $539,000 was disclosed as the additions to Land in 2021 (January 1 to June 30, 2021) for a current balance at June 30 2021 of $1,672,000.
I had assumed the "Farm" upon which Pit 1 and 2 sit was part of the purchase that the Company had completed in 2019 ($516,000) or in 2020 ($654,000). I recall seeing words to this effect in one of the prior MD&A documents or an annual information return - I will go looking for this reference.
This left me with the question to Mr. Veloso yesterday: "What did you acquire under the $539,000 land purchase in 2021". Having read out my question to the audience attending the call, he laughed, suggested it was irrelevant and not worth answering, and said he would not provide shareholders with any further information on a $539,000 capital expenditure.
Based on your online research, can we independently check the land registry records for all land owned by the two Brazil subsidiary companies to determine what the companies holds that adds up to an original cost balance of $1,672,000 at June 30, 2021. I would be happy to the digging if you can show me where to start.
Many thanks as always.
S.