Olma ammendment, my last post correctionOlma Investment Company has put out a correction of its last research report. The new target is $1.76 with a 'BUY' recommendation, down from $2.53/share.
https://freepdfhosting.com/c2578fb7a1.pdf
Also, Mongoose pointed out my mistake on my last post, so here is the corrected version below.
"Severstal reported a 38k oz drop in production for Q1. Berezitovy produced 87k oz in 2009 or 7300 oz/month. The statement in MD&A states that the 'main' crusher was down in Feb. This could indicate some production was still occuring.
HRG produced $433 per oz of cash flow in Q4 on average. If full shutdown and we missed on 7300K oz of production, then this amounts to $3.2M. This would take our cash flow down from $41M to $37-38M. If not a full shut down, then our numbers will be better than this. If there are no write downs in Q1, HRG should still produce a profit.
As Proud says, this is a short lived set back and a 2nd ball mill will allow the mine to eventually beat its peak production - maybe in Q2."