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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData

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El Nino Ventures Inc Announces Change In Accounting Policy

Thursday, 20 Dec 2012 12:53pm EST 

El Nino Ventures Inc announced that the Company will re-file its interim financial statements and management discussion and analysis (MD&A) for the interim periods ended April 30, 2012 and July 31, 2012 as a result of a change in the Company's accounting policy related to its exploration and evaluation properties. The Company will capitalize exploration and evaluation expenditures, including the cost of acquiring licenses. The Company previously expensed its exploration and evaluation expenditures as incurred. Costs incurred before the Company has obtained the legal rights to explore an area will continue to be expensed as incurred. The Company is of the opinion that capitalizing the exploration and evaluation expenditures, which is acceptable under International Financial Reporting Standards, provides a better basis of comparison to other similar junior mining companies. 

Company Quote

0.015 +30.00%
21 Aug 2014