PDG..NEM just picked them up PDG 14 NEM 21 1/2// Placer Dome's 3rd-Quarter Net Soared Fivefold As Sales Rose 6% I have no immediate target, I've been watching PDG and should have entered before today.
PDG...conference call today 7:30 canadian time.. 416 626-4100 code 1650005.. great earnings, been watching this a few days now..
NEW YORK -(Dow Jones)- Mining company Placer Dome Inc. late Monday reported its net income soared fivefold in the third quarter, surpassing analysts' estimates.
The Vancouver-based company posted net income of $33 million, of 12 cents a share, compared with year-ago results of $6 million, or one cent a share. Sales rose 6% to $336 million.
The mean estimate of 12 analysts surveyed by First Call was for net income of seven cents a share.
For the third quarter, cash flow from operations rose to $133 million, or 52 cents a share, from $66 million, or 25 cents a share, a year ago.
Placer Dome (PDG) said sustained cost reduction, higher gold production and strong hedging revenue resulted in Placer Dome reporting continued growth in earnings and cash flow in the first nine months of 1998.
Placer Dome now expects its total 1998 equity production to exceed 2.8 million ounces at an average cash cost below $160 per ounce.
With strong outlooks for its best-performing mines, and the new contribution from Las
Cristinas Mine in Venezuela, Placer Dome expects its cost to remain low and its production profile stable well into the next decade.
The company said 1999 equity production is forecast to be 2.7 million ounces at an average cash cost of $170 per ounce Based on current plans, the corporation expects to maintain average annual gold production at 2.5 million ounces from 2000 through 2002 at
cash production costs of about $180 per ounce.
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