My Estimate of 2nd Quarter Earnings
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2006 - 2nd QTR-Estimate
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Gold Product Oz 24,000
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Market Price Gold
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POG - USA $ 600
Oz Sold 8,000
Revenue USA $4,800,000
Conv Rate 1.1000
POG - Canadian $660
Oz Sold 8,000
Canadian Revenue 5,280,000
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Call Option Gold
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POG - USA $550
Oz Sold 14,000
Revenue USA $7,700,000
Conv Rate 1.1000
POG - Canadian $605
Oz Sold 14,000
Canadian Revenue 8,470,000
USA Revenue 12,500,000
Oz Sold 24,000
Avg Price per Oz 521
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Income Statement - Canadian $$$$
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Canadian Dollars
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Revenue 13,750,000
Other Rev 100,000
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Total Revenue 13,850,000
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Mining Operations 10,560,000
Cost per OZ produced 440
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MEMO:
Revenue - Mining Costs 3,290,000
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Royalty 82,500
% of Revenue 0.006
Depreciaiton Normal 775,000
Depreciation 4 Trucks 0
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Depreciation Total 775,000
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Total COGS 11,417,500
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Gross Margin 2,432,500
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Admin Costs 750,000
Stk Comp 80,000
Exploration 250,000
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Total Opera Exp 1,080,000
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Earnings from Operations 1,352,500
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Interest On Notes 275,000
Interest 4 Trucks 0
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Total Interest Expense 275,000
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EBT/Other/1Time 1,077,500
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AmotFinFee 0
Accre on Conv Deben 0
Interest Conv Deben 0
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Total 1 Time Charges 0
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EBT-and-Other 1,077,500
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Unrealized Loss -500,000
For Exc Gain/(Loss) -100,000
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Sub Total -600,000
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EAT / (Loss) 477,500
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Shares 135,000,000
EPS 0.00
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Cash Flow from Operations QTR-2E
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Earnings After Taxes 477,500
Amortization Defered Fees 0
Depreciation Normal 775,000
Depreciation 4 Trucks 0
Accre on CDebent 0
Unrealized Loss 500,000
Interest CDebent 0
Stk Comp 80,000
Royalty 82,500
Interest on Trucks 0
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Sub Total 1,915,000
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Less:
Cap Lease Payments 0
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Total Cash Flow 1,915,000
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Foibles and just dumb ideas on my part:
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(1) There is no royalty expense but
I am building a small 'hard spot' to cover
my guesses in other lines wherein I
may have understated expense.
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(2) I don't have a clue what the Loss
on Call Options will be - but it won't
be zero.
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(3) The average price of gold for
the quarter per KIT was
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April:610
May:676
Jun:597
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AVG:628
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Of the 24,000 oz I am projecting:
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14,000 oz were sold to cover Call Options @550
8,000 oz were sold at an average Market price of $600
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Critisms of this estimate ARE WELCOME because
it is my purpose (in the long run) to get a handle
(a feel for) this companies financial statements.
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Finally, at this time I do not have a feel for
what the CASH BALANCE on the Balance Sheet will
be.
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Thus far, TAD has done a much better job than
I have in accounting for all the OUTFLOWS that
are in front of us. Hopefully, this confusion will
clear up in a quarter or to, and based on projected
P&L data it will also be possible to GUESS what our
current cash postion will be at the end of a quarter.
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