RE:RE:RE:Burnaby comparable.Good that you still made some money. I thought you said that your buddy Andrew Saxton Jr. was going to "protect" your investment here?
He resigned from the BOD and the proxy circular for the meeting showed he still had some shares but not a lot.
When they formed the JV to build and market and sell the condo's and it all went well in a good market and the cost basis to KGF in the land was then minimal, as I said, we only got back a pittance of a few million profit AFTER taking some equity risk, wasn't that the signal that you were being screwed?
Under IFRS JV accounting it can get pretty minimal disclosure and basically black hole investing in that you have to "trust" the management/directors that they are not screwing you, because the disclosure is so minimal.
IF you look at the 3rd Q Mission JV disclosures here for Madison you and I can't tell what is actually going on, the margin on sales, cash flows, etc. There is no balance sheet, income statement, or statement of cash flows, even in summary, for the Mission JV. In fact, they lump it in with the other JV property. There are Material Assets IMO and the disclosure should be better!
Ditto the Highland Gate JV at our friends at Tri-White. Trust but verify.