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Gold/Mining/Energy : Canadian Microcaps

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To: diddlysquatz who wrote (289)	1/18/2004 8:04:55 PM
From: Ciao	Read Replies (1) of 817

I would have like to see more top line growth than only 10%. Can't understand how on one hand the higher EURO helps them, yet they have to hedge on the lower US dollar; "We had a gross margin of 41% in the current quarter compare to 30% for the complete 2003 year. This is exceptional and is caused by our plant being more efficient and by the increased value in the Euro. Raw products prices did not change but are slightly increasing in Q2. Strength of Canadian dollar compare to US dollar will affect future margins and will be partly compensated by increase in efficiency." Just a bit suspicious on here. Ciao

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