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TheMatrix Elite	23-Nov-2021 12:53        TheMatrix About Contact  Quote this Post!
x 0   x 0  Alert Admin	Yes... 2 cent, no harm trying. Goodgoing      ( Date: 23-Nov-2021 12:52) Posted: Dun tell me is hoe leong.... TheMatrix      ( Date: 23-Nov-2021 11:06) Posted: I just bought shares of a stock cheaper and more profitable than shen Yao.. Guess which one
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Goodgoing Master	23-Nov-2021 12:52        Goodgoing About Contact  Quote this Post!
x 1   x 0  Alert Admin	Dun tell me is hoe leong.... TheMatrix      ( Date: 23-Nov-2021 11:06) Posted: I just bought shares of a stock cheaper and more profitable than shen Yao.. Guess which one? Thi654321ABCDEF      ( Date: 23-Nov-2021 11:04) Posted: this counter will remain like this untill feb 2022 as some promoters saiduntill next quater results in feb 2022. If next quater also 4 - 5millions profit , then people will get confidence on this and will start to buy up
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watashievil Master	23-Nov-2021 12:37        watashievil About Contact  Quote this Post!
x 0   x 0  Alert Admin	cannot get out of lion gold shadows sia. so many accounting problems auditor picked up. not good just report not good la fix and do better than expected can already ma. why want play with the books sia. zzz
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tankoksee Supreme	23-Nov-2021 12:33        tankoksee About Contact  Quote this Post!
x 0   x 0  Alert Admin	tankoksee      ( Date: 22-Nov-2021 11:00) Posted: 1/2 coming? black_white      ( Date: 22-Nov-2021 10:59) Posted: Cut loss and sold 80% of holding already.
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bishalnb Master	23-Nov-2021 12:25        bishalnb About Contact  Quote this Post!
x 0   x 0  Alert Admin	but now who selling at 0.002 bishalnb      ( Date: 22-Jun-2021 16:23) Posted: Of course take the options and sell at 0.003 or 0.004 if lucky 😀 tanstg      ( Date: 22-Jun-2021 13:53) Posted: Let sit back and give a thought to the situation. Offering directors with an Options to purchase at 0.0028 per share. If you are the director or employee, will you take up the Option if you do not see a future to the company?
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Lightyear Veteran	23-Nov-2021 12:24        Lightyear About Contact  Quote this Post!
x 0   x 0  Alert Admin	Seems like buying up at 0.003
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surgiooo Member	23-Nov-2021 12:14        surgiooo About Contact  Quote this Post!
x 0   x 0  Alert Admin	looks like 200M shares dumped at .002
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TheMatrix Elite	23-Nov-2021 11:06        TheMatrix About Contact  Quote this Post!
x 0   x 0  Alert Admin	I just bought shares of a stock cheaper and more profitable than shen Yao.. Guess which one? Thi654321ABCDEF      ( Date: 23-Nov-2021 11:04) Posted: this counter will remain like this untill feb 2022 as some promoters saiduntill next quater results in feb 2022. If next quater also 4 - 5millions profit , then people will get confidence on this and will start to buy up. Thi654321ABCDEF      ( Date: 23-Nov-2021 11:01) Posted: This one is old news , alraedy auditors said these and shen yao replied to sgx. nothing new
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Thi654321ABCDEF Master	23-Nov-2021 11:04        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	this counter will remain like this untill feb 2022 as some promoters saiduntill next quater results in feb 2022. If next quater also 4 - 5millions profit , then people will get confidence on this and will start to buy up. Thi654321ABCDEF      ( Date: 23-Nov-2021 11:01) Posted: This one is old news , alraedy auditors said these and shen yao replied to sgx. nothing new   Lightyear      ( Date: 23-Nov-2021 09:11) Posted: First part sounds negative. 2nd part sounds positive that the company have no issue moving forth..
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Thi654321ABCDEF Master	23-Nov-2021 11:01        Thi654321ABCDEF About Contact  Quote this Post!
x 0   x 0  Alert Admin	This one is old news , alraedy auditors said these and shen yao replied to sgx. nothing new   Lightyear      ( Date: 23-Nov-2021 09:11) Posted: First part sounds negative. 2nd part sounds positive that the company have no issue moving forth... Atom99      ( Date: 22-Nov-2021 20:02) Posted: Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said.
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Hock88 Senior	23-Nov-2021 09:57        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	' Please the audit' ??? Bro, it' s Ernst & Young... go by the book man.. hem2998      ( Date: 23-Nov-2021 09:10) Posted: Mr Yao will take some doing to please the auditors. I took my chips off as well -- took small loss. Will come back in when the dust settles.
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Lightyear Veteran	23-Nov-2021 09:11        Lightyear About Contact  Quote this Post!
x 0   x 0  Alert Admin	First part sounds negative. 2nd part sounds positive that the company have no issue moving forth... Atom99      ( Date: 22-Nov-2021 20:02) Posted: Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said. Jajabing      ( Date: 22-Nov-2021 18:07) Posted: Totally agree!! Yao maybe a good businessman, but if dun move with the times , sooner or later also dinosaur. But at this stage, haiz. Would suggest retailers/longest whatever u call us to hold off the buying first . Maybe get some at 2 to average down. Or simply wait till they consolidate the shares . But than Shares already so much, if they issue again options of what, be really prepared to consolidate, and than X Liao LO
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hem2998 Veteran	23-Nov-2021 09:10        hem2998 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Mr Yao will take some doing to please the auditors. I took my chips off as well -- took small loss. Will come back in when the dust settles.
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Hock88 Senior	23-Nov-2021 09:07        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Already warned about the severity of audit report previously but some refuse to accept it  properganda89      ( Date: 23-Nov-2021 09:02) Posted: omg.... wow.. Atom99      ( Date: 22-Nov-2021 20:02) Posted: Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said.
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properganda89 Senior	23-Nov-2021 09:02        properganda89 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	omg.... wow.. Atom99      ( Date: 22-Nov-2021 20:02) Posted: Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said. Jajabing      ( Date: 22-Nov-2021 18:07) Posted: Totally agree!! Yao maybe a good businessman, but if dun move with the times , sooner or later also dinosaur. But at this stage, haiz. Would suggest retailers/longest whatever u call us to hold off the buying first . Maybe get some at 2 to average down. Or simply wait till they consolidate the shares . But than Shares already so much, if they issue again options of what, be really prepared to consolidate, and than X Liao LO
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sklong138 Elite	22-Nov-2021 22:29        sklong138 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.channelnewsasia.com/watch/digital-gold-gaining-popularity-amid-price-rally-video-2329141
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Jajabing Veteran	22-Nov-2021 20:13        Jajabing About Contact  Quote this Post!
x 0   x 0  Alert Admin	See, dun even need to wait few days at all Atom99      ( Date: 22-Nov-2021 20:02) Posted: Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said. Jajabing      ( Date: 22-Nov-2021 18:07) Posted: Totally agree!! Yao maybe a good businessman, but if dun move with the times , sooner or later also dinosaur. But at this stage, haiz. Would suggest retailers/longest whatever u call us to hold off the buying first . Maybe get some at 2 to average down. Or simply wait till they consolidate the shares . But than Shares already so much, if they issue again options of what, be really prepared to consolidate, and than X Liao LO
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Atom99 Master	22-Nov-2021 20:02        Atom99 About Contact  Quote this Post! Style: Fundamental   Mood: Yells: "Once you hv eliminated the impossible,whatever remains TRUTH"
x 0   x 0  Alert Admin	Audit blow for Ballarat gold mine owner Peter KerResources reporter Updated Nov 22, 2021 &ndash 4.38pm, first published at 4.23pm   The Singaporean owner of the Ballarat gold mine has suffered  another hit  to its credibility, after its new auditor, EY, was unable to reconcile a number of accounting matters, including the company&rsquo s ability to trade as a going concern. EY&rsquo s refusal to rubber-stamp the accounts filed by Singapore-listed Shen Yao Holdings comes two months after Victorian workplace safety regulators accused the company of  contravening the state&rsquo s top workplace safety  law and adds to  concerns about the future  of the mine. The safety concerns at Ballarat were resolved sufficiently for Shen Yao to continue operating the mine beyond the October 15 improvement deadline imposed by WorkSafe Victoria in September, but EY&rsquo s assessment of Shen Yao&rsquo s accounts has shifted the spotlight to other aspects of the company&rsquo s conduct. The Singaporean company lost $S19.1 million ($19.3 million) in the year to June 30 after the all-in sustaining cost of producing gold at Ballarat in the year was 20 per cent higher than the average price received for that gold. Despite the fact Shen Yao was granted extra time by the Singapore Exchange to file its accounts, EY said it was unable to get sufficient evidence to support a range of accounting decisions taken by the company. &ldquo We are unable to obtain sufficient appropriate audit evidence to assess the appropriateness of the carrying values of the mining properties, inventories and rehabilitation and preservation provision reflected in the consolidated statement of financial position ... and the consequential effect on mining costs and other related expenses,&rdquo EY said in the disclaimer of opinion it filed in relation to Shen Yao&rsquo s accounts.   EY said it was also unable to find &ldquo sufficient and appropriate&rdquo evidence to support Shen Yao&rsquo s assessment of its current assets, trade and other payables, income tax payable, property plant and equipment, and other balances. It was therefore unable to determine whether Shen Yao&rsquo s carrying value for the Ballarat mine was appropriate. &ldquo These factors and other matters disclosed in ... the financial statements indicate the existence of material uncertainties that may cast significant doubt on the group&rsquo s and the company&rsquo s ability to continue as a going concern,&rdquo said EY. The situation comes after many long-serving and highly experienced employees exited the Ballarat mine in the  two years since control of Shen Yao effectively changed to Yaoo Capital. Shen Yao told the Singapore Exchange the company had generated positive cash flow in the three months to September 30, and it was confident it could continue as a going concern.   &ldquo Based on the group&rsquo s cash flow forecast, the group is able to generate positive cash flows from the mining operations to fulfil the payment of current liabilities as and when they fall due,&rdquo it said in a market filing. One of the accounting &ldquo discrepancies&rdquo identified by EY related to &ldquo prepayments&rdquo to certain mining consultants, which the auditor said should have received a different accounting classification. The prepayment of some service providers came in the same year that other contractors and holders of royalties on the mine&rsquo s production were forced to wait longer than expected for payments. The storage of mine wastes, or tailings, at Ballarat has also been a focus this year, with a Shen Yao-controlled website recently suggesting the mine&rsquo s existing tailings storage would be full by the end of 2021. But Shen Yao told the Singapore Exchange that the information on the website was outdated and directors were confident the mine had two years of tailings storage available. Shen Yao said it had applied to Victorian government regulators for permission to establish further tailings storage. &ldquo Applications have also been submitted to the relevant authorities for expansion of the capacity of the current tailings storage facilities as well as for the development of alternative storage facilities,&rdquo it said. Jajabing      ( Date: 22-Nov-2021 18:07) Posted: Totally agree!! Yao maybe a good businessman, but if dun move with the times , sooner or later also dinosaur. But at this stage, haiz. Would suggest retailers/longest whatever u call us to hold off the buying first . Maybe get some at 2 to average down. Or simply wait till they consolidate the shares . But than Shares already so much, if they issue again options of what, be really prepared to consolidate, and than X Liao LOL Thi654321ABCDEF      ( Date: 22-Nov-2021 17:15) Posted: if venture with crypto , then this one will mov
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Jajabing Veteran	22-Nov-2021 18:07        Jajabing About Contact  Quote this Post!
x 0   x 0  Alert Admin	Totally agree!! Yao maybe a good businessman, but if dun move with the times , sooner or later also dinosaur. But at this stage, haiz. Would suggest retailers/longest whatever u call us to hold off the buying first . Maybe get some at 2 to average down. Or simply wait till they consolidate the shares . But than Shares already so much, if they issue again options of what, be really prepared to consolidate, and than X Liao LOL Thi654321ABCDEF      ( Date: 22-Nov-2021 17:15) Posted: if venture with crypto , then this one will move Hock88      ( Date: 22-Nov-2021 17:01) Posted: Maybe they can consider create digital gold
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Hock88 Senior	22-Nov-2021 18:04        Hock88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	They only need to change name to Metagold to stir the market  Thi654321ABCDEF      ( Date: 22-Nov-2021 17:15) Posted: if venture with crypto , then this one will move Hock88      ( Date: 22-Nov-2021 17:01) Posted: Maybe they can consider create digital gold
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