Looking good for 2006Canatuan Mine
- Revenues for 2005 were $14,662,865 with cash flow of $4,536,815 and net income of $1,107,417. In the fourth quarter revenues were $5,542,719 with cash flow of $1,668,937 and net income of $150,792.
- A total of 19,342 ounces of gold and 442,418 ounces of silver was produced and shipped for the year ended December 31, 2005. During the fourth quarter, the mine produced 7,237 ounces of gold and 139,771 ounces of silver. The average price received per ounce of gold and silver sold for the year was $544.19 ($574.71 for the fourth quarter) and $8.85 ($9.45 for the fourth quarter), respectively.
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- I think the part to read here is that if they can continue to produce like the 4Q for 2006, then we would see another 10,000 oz of gold and 11,000 oz of silver, which in dollars is $5,700,000 net which will put us into a profitable company by the year end, based on the same numbers TVI used for the 4Q.
OC