The most dangerous phase in mining isn’t exploration, it’s development. This is where projects become capital intensive, assumptions get tested, and going concern risks start to emerge.

In this episode, we unpack the financial reporting challenges that arise as mining entities transition out of IFRS 6 into IAS 36, and why this shift often exposes deeper issues. We explore how going concern becomes a critical judgment area, especially when funding, timelines, and engineering realities don’t align.

From revenue uncertainty under IFRS 15 to embedded leases, inventory valuation, and complex funding structures, this episode highlights where things start to go wrong and when entities should have known.

🎧 In this episode, you’ll learn:

•  Why the development phase is the highest-risk stage for financial reporting 
•  How going concern risks build before projects fail 
•  When to exit IFRS 6 and trigger IAS 36 impairment
•  Why revenue and funding structures introduce volatility and judgment

Financial Reporting Conversations is brought to you by Basford Consulting helping professionals go beyond compliance and get financial reporting right.

For technical insights, training, and resources that make the unknowns in financial reporting known, visit basfordconsulting.com

🔗 Connect with us:
LinkedIn: Wayne Basford & Judith Leung
YouTube: @BasfordConsulting
Website: basfordconsulting.com