Aurora Acquisition Corp (AURC)

[BonelessCat]

Inventory, estimated value of reserves, is an asset, but it is also counted as a liability since the ore has not yet been extracted. As one poster pointed out, it is a balance sheet and therefore it must balance.

I'm no commodities expert, but in spite of bashers, I have seen this method of audit/accounting before for mining operations.

Question, what was the gold value used for the audit? If it was $550, we are shareholders in something that has already gained 20% in gross value. Wheeee!!

http://www.auruscorp.com/investor_financials.asp?sec=investor