In the past Quarterly conference call (Q2 Oct-Dec 2017)
Amanda says at 59:00 minute mark :
AELB ... it is indeed a deposit .. and the previous monies placed on deposit were placed in deposit directly with the government ... the 30 million we placed in deposit within this quarter has been by way of a cash backed bond .. so it is indeed a deposit and will be treated as such as far as our accounting procedures are concerned.
Now with respect to will it be required to be used .. um so to put this into perspective .. our waste which have low level radioactivity sits about 6 bq per gram .. safe working limit is 20 bq per gram ... background radiation in anything we do is about 1 bq per gram .....
we have strategies which we are seeking to execute with respect to our waste materials here particularly with conversion of them into products such as soil conditioners and use to remediation of sites which were used for bauxite mining in pahang .. so we have a number of strategies associated with it (waste materials) .. in any type of mining or processing you have some type of remediation fund, we make payments into a remediation fund in WA and we carry that liability on our books ..
so we will continue to carry these cash deposits (aelb) and liabilities like the remediation funds on our books .. but it is really and truely the cash that has not disappeared into consolidated revenue .. and my ongoing view on this is that i would rather this money under our control than any government ..
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