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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (5107)	5/15/2002 2:57:47 PM
From: Claude Cormier	Read Replies (1) \| Respond to of 8010

Bob, <Here's what they have for cash flow: 50,000 ounces of gold at a cash cost of $150, and 12moz of silver at a cash cost of $4.02. At current prices, the gold can generate $8M and the silver $6M, a total of $14M annually.> How do you see that happening. That is what they produced in Q1 on an annual basis and they came in way in the red. Remember they have lots of admin, interests and other costs.. Net they have outflows of several millions per quarter. Am I missing something ? THREE MONTHS ENDED March 31, -------------------------- 2002 2001 --------- --------- (In Thousands, except for per share data) REVENUES Product sales $ 16,469 $ 18,006 Interest and other revenues 528 16 --------- --------- Total Revenues 16,997 18,022 COSTS and Expenses Production 18,014 18,257 Depreciation and depletion 1,878 2,817 Administrative and general 2,105 2,277 Exploration 628 1,392 Pre-feasibility 822 566 Interest 4,401 3,744 Other 1,045 217 --------- --------- Total Costs and Expenses 28,893 29,270 --------- --------- NET LOSS FROM CONTINUING OPERATIONS BEFORE TAXES AND EXTRAORDINARY ITEM (11,896) (11,248) Income tax provision -- 1 --------- --------- Net loss before extraordinary item (11,896) (11,249) Extraordinary item -- early retirement of debt (net of taxes) -- 3,181 --------- --------- NET LOSS (11,896) (8,068) Unrealized holding gain (loss) on securities 101 415 --------- --------- COMPREHENSIVE LOSS $(11,795) $ (7,653) ========= ========= BASIC AND DILUTED EARNINGS PER SHARE: Weighted average number of shares of Common Stock 52,389 37,308 ========= ========= Loss before extraordinary item $ (.23) $ (.31) Extraordinary item -- early retirement of debt (net of taxes) -- .09 -------- --------- Net loss per share attributable to common shareholders $ (.23) $ (.22) ========= =========