Note 12 - Contingent Liabilities and Contingent assets

  1. 39 Posts.
    Seeking a little help hear in the hope someone can clarify the section on "Payments which may be triggered by the commencement of development at BBM"

    I have read this section a number of times and worry about what seems to be a lack of clarity on the triggering events for the deferred payment. There seems to be a constant references to "the companies view"

    Is there any clarity on the actual holding of shares in the PT Bumi Barito Minerals company? Have the 60% shares actually been registered in the name of Cokal? Is there any risk of the deal being terminated and ownership reverting to the vendor. I am sitting at a great distance but there seems to have been a few past occasion in Indonesia where listed companies have lost rights to concessions. Is there a risk this is another one?

    Thanks in advance for any spotlight that can be shone upon this issue or non-issue whatever it may be
 
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