Is it the 75m shares added in the year?
Is it the $0.78m negative working cap?
Or is it this, the accountancy violin concerto?
During
the quarter ended June 30, 2016, the operating income totaled
$6,162,768 compared to a loss of $1,503,017 in 2015. The revenue, cost
of sales and gross loss totaled $15,492,036, $15,636,711 and $144,675
respectively compared to $13,989,447, $14,424,851 and $435,404 in 2015.
This increase of $7,665,785 is mainly explained by the reversal of an
impairment charge on exploration and evaluation assets of $10,586,490
and the impairment of property, plant and equipment of $3,050,000.
The paid pumpers who’ll shove this in your face on Monday, example Jay Taylor and Thibault Laputain*, will skip over the bullshit asset re-rating and point to a non-existent paper profit. The single worst gold mining company in Canada, anyone owning this needs specialist psychiatric help. Eric Sprott and Nolan Watson, step forward.
*i think that’s how you spell it 🙂