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Gold/Mining/Energy : RED EMERALD RESOURCES -- Ignore unavailable to you. Want to Upgrade?

To: hugh thorne who wrote (504)	6/11/1999 10:34:00 AM
From: russet	Read Replies (1) \| Respond to of 862

Haven't looked at the last quarter but the yearend F/S notes give the impression (reading between the lines) that all inventoried red beryl is treated as work in progress inventory and is not assigned a value. It's true value is yet to be determined on the market, so the conservative thing to do would be to just post the costs as they incur them, and depreciate them using a unit of production method. If there is an increase in exploration and development expenditures assigned to the project from one quarter to the other, that may be the only indication of more inventory. Can you tell if there was?