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Re: WhiteSahara post# 7854

Monday, 05/01/2006 3:40:36 PM

Monday, May 01, 2006 3:40:36 PM

Post# of 115222
Go ahead and break it down into T-accounts for us...

AURC booked the assets of $4B. What was the consideration? Was it cash? No, because they didn't pay for the rights to mine the ore up front. That's where the debt comes into play. My opinion is they booked the LT debt which is the 10 year licenses to mine the ore from all the sights.