Earnings will be out on Friday morning.
Gold revenue in 3rd Q: 4.532M with gold averaging $960
Gold revenue in 4th Q:5.218M assuming gold at $1100 average
Operating profit in 3rd Q: 2.335M
Operating profit in 4th Q: 2.688M assuming the same ratio of expenses
Towards the end of May, before the AGM, we should get the 1st Q 2010 financials which should be very similar to the 4th Q. What will be fun is that the 2nd Q 2010 financials should close to double that with only 1 month of production at 1200t/d average at Lamaque. In the 3rd quarter, with our first full quarter of production, we should see 25M in gold revenue and 14M in operating profit. That would bring us to 50-60M in operating profit per year. On a fully diluted basis, that is about 14 cents per share or about 5.5 P/E at our current share price. We should be trading at a minimum P/E of 10 or $1.40, probably closer to a P/E of 15 or $2.10 when we confirm CMM has delivered the predicted prodution.
One thing at a time though. Let's start by the financials on Friday, let's see how they compare to my 2.688M on revenue of 5.218M. Next let's get our first pour and keep building from there. Gold increasing in price is just a great bonus!
Glorieux
I predicted a few days ago we would probably see 65 to 70 cents again. That will probably happen tomorrow, if it happens. If we get anywhere near 65, I will be buying back some of the 20% that I have sold. Stink bids should be placed between 65 and 70 cents IMO. Good luck to all!
