Let''s get you blood boiling again !Mucho banter today about profit at $21 silver.
This news release would suggest even with a $6 cash cost, the cash flow is not enought to offset the infrsstructure cost. Thus the need for financing at such depressed share price, so now it can operate for anoth 1 year added to the normal 2 that was left in the bank. Normal opeating cost that is without constructuion cost.
No net earning unitl Q4 or Q3 of 2008 and even then you will need more financing to built more mines.
Someone poste 5M oz produce and that's a NA-DA at this stage. i go generous and use 3Moz at 14 profit from sales. That's a cash flow of $42M which means constructing is clipping at more that $42M per year for now, say $50M.
Construction is still slated for another 2 year a least meaning $100M is needed unitl end of 2009.
How long is this been running ?
Mine does not cost 500M ... hmmm ?
What did I miss ?
Cheers
Any more