I realize this theory may be flawed
Really? Isn't that what the consensus of this thread is? Nope, you've got it right. I've noticed some of the brighter lights of SI are only into big caps. One of the first things I did for the new year was to buy a PM mutual fund (big caps only), then I ventured south a little.
The problem with holding some of the smaller players is that you are reducing yourself from investor to gambler. (note my pay.per.view comment)
What about the suppliers for the mining industry?
I've pasted something from a company that was a spin-off of Sherrit. -- It's a cute little penny that's trying to become the National Oilwell of mining exploration companies. The stock price has been stagnant for years, but I'm sure like the O&G sector, this service company will be a great buy a year or two down the road.
IMHO stick with what Isopatch and Slider have been saying, -- go long with quality gold/silver stocks.
Best Regards
Frank P.
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Dynatec first quarter revenues up 28%
RICHMOND HILL, ON, May 8 /CNW/ - (DY-TSE) Dynatec Corporation, ("Dynatec"), today announced that for the first quarter ended March 31, 2001, revenue from continuing operations increased to $46.1 million, up $10.2 million from $35.9 million for the same period of 2000.
Earnings before interest, taxes, depreciation and amortization, EBITDA, in the first quarter of 2001 was $3.5 million compared to EBITDA of $1.7 million for the same period the year earlier. The Company reported net earnings of $0.6 million or $0.006 per share for the first quarter of 2001 compared to a loss of $0.2 million or ($0.002) per share for the same period of 2000.
W.R. Dengler, Dynatec President and CEO commented, "We are pleased with the improving profitability of the Company as initiatives undertaken last year have led to both additional contracts and improved margins in the Mining and the Metallurgical Technologies Divisions. We have a favorable outlook for continued revenue growth and added earnings, as Dynatec's unique technical and operating expertise continues to add to the success of major mining clients around the world."
The $10.2 million revenue growth was a result of significant revenue increases in the Mining Services Division and the Metallurgical Technologies Division during the quarter. Mining added a multi-year agreement to conduct the underground mining operation at Goldcorp Inc.'s Red Lake Mine in northern Ontario, while continuing with major projects at the Franco-Nevada Ken Snyder Mine and the Barrick Meikle Mine in Nevada, U.S.A. Metallurgical Technologies continues to add revenue through contracts for their expert technical services and with licensing arrangements for the Company's proprietary pressure hydrometallurgy technology. The Division earned significant license fee income for the Company's zinc pressure leach technology during the quarter. Revenue from the Drilling Division was lower in the first quarter of 2001 compared to the same period last year related primarily to the prior completion of a two- rig contract in Saudi Arabia and a reduction in North American exploration activity in the quarter.
A significant portion of Dynatec's long-term debt will come due in 2001, and the Company has commitments from its lenders to refinance this senior debt. The Company holds $18.1 million cash on hand, intended for acquisition and investment purposes.
Dynatec Corporation, based in Richmond Hill, Ontario, is a widely held Canadian public company that provides a broad range of services, principally to mineral exploration, mining and refining companies internationally. Its business is composed of three divisions: Mining Services, Drilling Services and Metallurgical Technologies and employs over 1000 people in its operations. The company holds a 35% equity interest in Highwood Resources Ltd., a resource development company engaged in the industrial minerals and specialty metal business.
Dynatec is listed on the Toronto Stock Exchange with the symbol "DY" and has 113,593,287 shares outstanding.</I> |
