$3.74=$3.81/pound=$4/share earningsWhat does that meann? Whatever the spot price is add about 7 cents to it to come up with AUR's minimum selling price because of the premium they get for their LME Registered Grade A production. Should $3.81/pound be the average for the rest of the year, AUR would be on track for earnings of $4/share, cashflow well over $5/share and NET CASH in the bank OVER $6/share by year end (based on chart from AGM that said that for each 5 cents over $2.50/pound that AUR sells its copper, add about 7 cents/share to 2006 earnings of $2.19)
Near $4/share and over $6/share NET CASH in the bank and all for a stock still in the teens. Wait, it gets better: AUR is increasing produciton this year with addition of 100% owned zero cents/pound Duck Pond that ALONE would add about $1.50/share at these prices in 2007 to whatever is earned in 2006. Don't complain about the stock price, sieze it!!!