Exploration costs
Poseidon, Ltd, Australian nickel miner, says it has spent $2,183,203 ($2,048,766) on exploration of the Windarra Leases in the year to June 30 and $39,600 ($41,443) on other areas. The consolidated net loss for the year after all extraordinary items stood at $860,386 ($300,538). The company transferred $1,295,578 ($116,091) capital profits on listed investments to the capital profits reserve account and another sum of $1,282,047, provision for diminution in value of long term listed investments, was transferred to the investment revaluation reserve account. Accumulated losses carried forward stood at $1,601,716 ($727,799).
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Bibliographic details
Press, Volume CXII, Issue 33052, 20 October 1972, Page 18
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93Exploration costs Press, Volume CXII, Issue 33052, 20 October 1972, Page 18
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