Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG Message Board

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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: Wade	6/24/2010 10:59:35 AM
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First Majestic Silver (FR.TO and FRMSF.PK) is one of my largest positions. Its Q1 net earning was 3.0 million cents per share, but actually it would be 5.3 million if 2.3 million was not capitalize. Therefore, their actual earning was about 6 cents per share at average silver price at $16.23. Now, the average price of silver is about $18.23 for Q2, therefore my estimation of their earning would be adding another $2.3 million net earning on top of the Q1 to 7.6 million. finance.yahoo.com Furthermore, their new La Encantada plant has began production since April 1, 2010. This additional revenue is not included in the estimation. They also reduced very significant smelting charges for dore to $0.52/oz from $4.05/oz for concentrates. Therefore, their earning est. for Q2 could be in the range of is 8 to 10 cents, which could be way of base of course. WDIK...I am not an insider. BTW, silver (and some gold) is at 90% of their main revenue. The rest of 10% is lead. I treat it as a pure silver play.

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