Q2 likely to be US$0.10/shareEPS of US$0.06 in Q1 was good. I thought it may be a penny or two higher due to higher settlement contracts (but these are one-time items anyways).
In Q2 with production up 20% from Q1 EPS based on the same copper price should be around US$0.08, especially given that the marginal cost of the additional 20% increase would be small.
Given that copper prices are likely to average around US$0.40/lb. higher in Q2 that should add two pennie.
Even without Colihues, ARG on track to generate arounf US$0.35/share in EPS (based on US$3.25/lb. copper). And this is real earnings as ARG's CAPEX is dropping close to its depreciation level - therefore earnings = cash flow. So ARG's cash balance should build throughout the year. Getting Colihues going will be a huge boost (as it would double production and earnings). Seeing the cash build should also mean other initiatives in the future.