Saturday, November 03, 2007

Writing Off Croesus Mining

I finally decided to write down Croesus Mining's value in my accounts to zero. The stock was suspended from trading ont he Australian Stock Exchange in March 2006. There has been an ongoing story of the restructuring of the company and stock and the company wants to be relisted on the ASX - though the valuation would be miniscule compared to the last quoted price. So I decided that I will write the price down to zero and if the stock is ever traded again, put that increase in value down as a profit for that month. I am taking the whole loss in March 2006, which now saw a -3.05% return for the month or a loss of $US8,939. I've updated all net worth figures back to March 2006 on NetWorthIQ.

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