ItsAllCyclical,
Just in case you didn't see this on Yahoo:
General thoughts on 2003 and 1Q
by: pcnisbet (45/M/Moscow, ID) 01/23/03 12:21 am
Msg: 37231 of 37308
Looking at the Costs and other factors over the 2002 year time frame and the revenues that should flow from existing operations and the current production schedule, things look pretty interesting. Costs over all should be around 100 million dollars, but revenues over 2003 if the gold and silver price hold above $350 and $4.80 should jump to $150,000,000. The Zemex thing and several other factors take care of the small hedged position effects on earnings.
Looking at it all, there shold be 11-12 cents a share earnings every quarter of this year and that would beat expectations of the current Est EPS by just under 20 cents a share.
Now Ivanhoe does not come on till 2005, B Block in 2004, but we might see increased production if drilling is completed and development work at Perdenelillo comes in. Still, this year may show higher then the 2002 production numbers in terms of ounces. Going forward, it should show even better, rising as each new project gets into production. I suspect that over 400,000 ounces of gold will be produced by 2005, 25% higher then what Art was looking for and the highest gold production by HL in its 112 year history.
Thats well worth the probs of a few days dealing with some dilution.
have a great day,
Roebear |
