Certain statements in this call will be forward-looking statements, which reflect management's expectations regarding future growth, results of operations, performance and business prospects and opportunities. For detailed information about risks and uncertainties that could cause actual results to differ materially from those expressed or implied, please refer to the disclaimer for forward-looking information contained in today's press release and filed with the Canadian securities regulators and on Form 6-K with the SEC. The company will make a brief presentation on the results announced this morning and then open the call to questions.
I would now like to turn the call over to Mr. Michael Smith, Chairman and CEO of MFC Industrial. Hi, Michael.
Michael J. Smith
Good morning, Michael. Thank you very much. First of all, I would like to just walk you through the half financial results, and then maybe make some comments in ref to some projects which we're involved with. So if I -- let me start with the balance sheet of the company. At June 30, we had cash and near cash equivalents of about $364 million. Major changes on the balance sheet is our inventories went up to $114 million from $81 million. Predominantly, the increase was because of additional products which we have taken on, predominantly steel coils, and also some iron ore left over from this season. Receivables are up to $33 million from $21 million but that's constant and there's nothing abnormal, it's just the timing issue. Deposits in prepays went from $9 million to $16 million and that was because of the refinery we acquired in the last quarter.If I take you down now to noncurrent assets, and if you look at plant, property and equipment, you'll see it went up from $3 million to $30 million, and that is strictly because of the acquisition of the refinery which we acquired in the last quarter.
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