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Gold/Mining/Energy : Verde Agritech
NPK.TO 0.910-2.2%9:59 AM EST
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From: kidl11/10/2017 3:26:45 PM
1 Recommendation

Recommended By
LoneClone

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Q3 is out.

This statement from the MD&A supports what I said in post Message 31338220

MD&A page 2:

HIGHLIGHTS OF THE THIRD QUARTER

Verde sold $224,000 of Super Greensand®. This revenue has been credited against the Cerrado Verde project until commercial production is reached.

I can only assume that this is net of CoG since the P&L doesn’t show any production costs.

Huge increase in Travel and IR. I assume Palisade got the lion’s share.

Q3 all in all ... Not nice as cash burn increased 30%

One more negative from the MD&A page 12:

During the quarter the Company made a provision of $488,000 against an unfavourable arbitration decision in favour of a private Brazilian consultancy company that undertook environmental studies between 2010 and 2013. The Company is appealing the decision and estimate that a final decision in this case may take up to 6 years.
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