Tectonic Gold Plc - Annual Financial Report for the Year Ended June 2020
PR Newswire
for the year ended 30 June 2020
CONTENTS
6 Strategic report
17 Consolidated Statement of Profit or Loss and Other Comprehensive Income
18 Statements of Financial Position
19 Group Statement of Changes in Equity
20 Company Statement of Changes in Equity
21 Statements of cash flows
23 Notes forming part of the financial statements
COMPANY INFORMATION
SECRETARY:
COMPANY REGISTRATION NUMBER:
London
Warwickshire,
VSA Capital
Dear Shareholders,
I am pleased to present the results for Tectonic Gold Plc for the 12 months to 30 June 2020. This marks the second year of your Company and one that presented enormous challenges and opportunities for us. From bushfires to COVID-19 and trade wars we have had to navigate a ve
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Just in time to add to your holiday reading list, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS) released final regulations under sections 451(b) and 451(c) of the Code addressing income recognition and the treatment of advance payments (Final Regulations).
Under the Tax Cuts and Jobs Act
2 (TCJA), Congress amended section 451(b) and added section 451(c) to the Internal Revenue Code, dramatically altering the historic standard of income recognition,
3 and also codified a longstanding method of accounting allowing income deferral for advance payments.
4 Nearly two years later, on September 9, 2019, the IRS issued proposed regulations under section 451(b) and section 451(c) (Proposed Regulations).
· Completed, 21 June 2019, an independent initial inferred resource estimate ( IRE ) for the Star Zinc project in accordance with JORC 2012 · The IRE reports Inferred zinc resources with reasonable prospects of future economic extraction of approximately 500 000 tonnes at 16% Zn or 77 000 tonnes of contained metal above a cut-off grade of 2% Zn, including approximately 340 000 tonnes at 21% Zn for 72 000 tonnes of metal above a cut-off grade of 8% Zn · Raised £1,000,000 in placing, before expenses, to advance the Star Zinc Project and for general working capital purposes · Acquired unconditionally from BMR, the remaining 15% of the shares that the Company did not hold in Enviro Zambia Ltd, thereby increasing the Company s ownership in the Star Zinc Project to 95% with the Zambian government holding the other 5% Kashitu Zinc Prospect ( Kashitu )
SouthGobi Resources announces second quarter 2020 financial and operating results globenewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globenewswire.com Daily Mail and Mail on Sunday newspapers.
The committee ruled that the requirements of International Accounting Standard 19, Employee Benefits, are clear, with 12 members of the body backing the decision.
The committee’s chair, Sue Lloyd, played down fears that the decision would force sponsors to restate their accounts.
She said any such decision would depend on what individual fact patterns are “compared to what is in the agenda decision”.
“I think that the more important, generic point is that when we recently updated the Due Process Handbook, we made a specific reference to the fact that people do need to apply relevant agenda decisions to be in accordance with IFRSs but we believe that agenda decisions provide new insights.”