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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Bid Buster who wrote (190477)9/4/2002 4:06:49 PM
From: Horgad  Read Replies (2) of 436258
 
There were no shockers during the conference call. Mostly reiterated the news releases.

The said that it should not be much of a problem renegotiating with the banks and that cash flow is not a problem.

Production will be down the next couple of quarters. Expenses will be about the same. They are working on lowering expenses by switching mining techniques. They have some (unexpectedly?) narrow ore veins that they have been using large machinery on which is lowering their ounces per ton ratio. They are going to switch to a more appropriate more precise mining techniques that will will decrease tonnage but increase ounces per ton. This will take time. Long term production forecasts still hold.

In any case, I am holding out for a bounce to 8 or better, but will bail if we get close to today's lows around 6.75.
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