"A Peruvian subsidiary of the Company is currently facing claims from the Peruvian tax authorities....."
WHICH PERVUVIAN SUBSIDIARY???
DYNACOR owns 100% of this subsidiary....and they will ultimately own 100% of this liability. Yes you are right Malaga is not our concern (they own a certain % of Dynacor, not the other way around)...well not the concern I am referencing.
Dynacor is not sheltered from this liabilty....you can't receive the revenue, own the assets on the books and not limit your liability. Hence, the notes in the financials. Dyancor has set aside monies for doubtful accounts.....yes it is a receivable on the books (asset) that is being considered uncollectible (doubtful accounts)
These are Dynacors companies that all roll up:
Minera Dynacor del Perú, SAC, Compania Casaden SAC, Compania Tumipampa SAC, and Minera Veta Dorada SAC
One of the above (or more then one) which Dynacor owns has the claim against them. Anyone know which subsidiary?
I need to bring up again since the forum has brought up......they have placed liens on certain Malaga assets, although no concern of Dynacors directly, but they can do the same for Dynacor's assets for Dynacor's companies.
The prior post was important, to the extent of the governments power they are willing to flex.......although less likely for Dynacor, for they have the earnings and assets to make a deal.