Phoenix Associates Land Syndicate (fka PBLSQ)

[Kenticus Maximus]

"The land lease for Murphy Sand & Gravel is carried at acquisition cost." Should be easy enough to understand. The statement could just as easily say "The mineral reserves for Murphy Sand & Gravel are carried at acquisition cost."

"Lotta room for interpretation!"

The use of acquisition cost means there is NO room for interpretation; it is a hard figure. PBLS is to be applauded for using a conservative number.