Dutch Central Bank Sale Announcement Imminent? Message Board

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Politics : Dutch Central Bank Sale Announcement Imminent?

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To: Bill Murphy who wrote (2703)	12/17/1998 9:55:00 PM
From: baystock	Read Replies (1) of 80990

Bill, I disagree on two points in your ECU writeup: <<Second, Williams Resources invested $20 million into the Valardena Mine. ECU took it over for a song and a dance. This means ECU will not have to incur large depreciation expenses over time. That means greater net profits.>> Depreciation is actually a good thing since it reduces your profits and thus taxes. It does not reduce your cash flow however, since it is just an accounting expense rather than a real expense. <<Andre St-Michel projects a cash flow of $1 million per quarter by April of 1999 and $1 million per month by the end of 1999. >> How do you comeup with $1 million per month cash flow ? The company's press release of December 7 shows a final target of 300,000 oz Ag and 5000 oz Au per quarter. This translates into $3 million in revenues per quarter, not cash flow: biz.yahoo.com Ram

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