"Of note during the quarter is the recovery of 5,502 ounces of gold on which revenue is not recognized. These commissioning ounces are recorded as a reduction to the capitalized value of the Hinge mineral property; this translates to a dollar amount of $5,885,434 – when commercial production is declared on the Hinge, these (further?) ounces will be considered production and be recorded as revenue which would have a material impact on the reported performance of the Company."
Lunch, I read your comment as the bulk sample will hit the bottom line this quarter, but it looks to me as the bulk sample has been used as reduction; any new mining from hinge will hit the bottom line?
Who can help me with this
last two years -
| 33koz produced, minus 5.5koz development hinge |
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18 koz sold
Presume for accounting, the 5.5koz from hinge was sold but not 'sold', put against development costs.
The 18koz recorded as sold leaves about 10koz not recognized as sold. Was it sold and taken off some other development / exploration costs? The italics note above suggests all gold produced and sold is revenue? This accounting is complicated.
I'm hoping for 10koz produced this quarter - am I stupidly optimistic, or a basher?
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