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Strategies & Market Trends : Winter in the Great White North

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To: tyc:> who wrote (1338)8/28/2001 11:00:46 AM
From: Elizabeth Andrews  Read Replies (1) of 8273
 
Free cash flow is revenue less all royalties, less all operating expenses, less currency losses (if) and less all ongoing capital expenditures planned or required. It is not quite as simple as you have outlined as the big unknown is the required capital and development expenditures (ie capitalized expenditures) which can, if required, wipe out free cash flow and INM may receive zero for a long time. A mine always seems to require these things.
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