I have owned HL off and on for some time now. Most pundits don't even crow about HL they like SLW or FR. In FR's case production cost is about 8 bucks vs. a negative cost for HL so go figure.
HL:<SECOND QUARTER 2010 HIGHLIGHTS
Silver production of 2.6 million ounces
Gold production of 17,880 ounces
Cash costs of negative $1.82 per ounce of silver after by-product credits in the second quarter of 2010 and cash costs of negative $2.41 per ounce of silver in the first half of 2010
Net income of $13.7 million, or 6 cents per basic share, applicable to common shareholders>
FR:< Silver ounces produced 1,538,798 ounces
(excluding equivalent
ounces of gold and lead)
Silver equivalent production 1,656,165 ounces
Silver equivalent ounces sold 1,623,844 ounces
Total cash costs per ounce $8.20 (U.S.)
Direct cash costs per ounce $6.16 (U.S.)
Average revenue per ounce sold $18.68 (U.S.)
<The company generated net income of $8.9-million in the second quarter of 2010, or earnings per common share (EPS) of 10 cents, compared with a net income in the second quarter of 2009 of $1-million, or EPS of one cent. Net income for the second quarter of 2010 included non-cash stock-based compensation expense of $600,000 and an income tax provision of $1.4-million. In the first quarter of 2010, net income was $3-million, resulting in EPS of three cents. If the revenues and expenses of the new plant were deemed commercial in the first quarter (recorded as income rather than capital), an additional $2.3-million of capitalized profits would have increased EPS in the first quarter to six cents. >
Considering location and reserves and costs I will bet on HL in the long haul but FR has done an oustanding job. |
