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Gold/Mining/Energy : SOUTHERNERA (t.SUF)
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To: gemsearcher who wrote (3322)5/12/1999 3:20:00 PM
From: GEORGES  Read Replies (2) of 7235
 
They collect the money 60 days after production.This is similar to just about every business on the planet. The money due is in accounts receivable and normally you can borrow 75% of the value of the ARs of 90 days or less.That's how you normally offset your cash flow requirements. The major issue that people seem to have missed with the last quarter results is that there were write offs of almost $0.30 per share (tax effected). If you disregard these one time charges, the last quarter results are in fact pretty good.
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