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Thursday, 02/18/2021 7:44:07 PM

Thursday, February 18, 2021 7:44:07 PM

Post# of 47587
. One sure thing 10Q proved is the Test Mining Guide exception way to expense gold sales. Now do you all finally believe it exists? Probably best reason to never listen to any claim it doesn't exist beneath SEC proven resource rules. What ever became of " I make my own OTC decisions and will blame none for the wrong ones." Lots of blame game here we see daily in small OTC apparently working hard to survive. Sure no assist but many losing much more this point are not the whiners. Any can join Blog's Forum "Other Companies" BTW is full of OTC winners of late.

"Exploration and Development Costs

Exploration costs incurred in locating areas of potential mineralization or evaluating properties or working interests with specific areas of potential mineralization are expensed as incurred. Development costs of proven mining properties not yet producing are capitalized at cost and classified as capitalized exploration costs under property, plant and equipment. Property holding costs are charged to operations during the period if no significant exploration or development activities are being conducted on the related properties. Upon commencement of production, capitalized exploration and development costs would be amortized based on the estimated proven and probable reserves benefited. Properties determined to be impaired or that are abandoned are written-down to the estimated fair value. Carrying values do not necessarily reflect present or future values.