Wheels Group Inc GRFJF

RE: It's Getting Better

[SkyeCairns]

re: Cost of goods sold does not include the full cost of running the company, it is an expression of production cost .   Your numbers refer to cash flow per share.  

Actually I took all their expenses/revenuses from their Income statement changing the numbers for their forecast on oz to be sold, selling price based on Kitco spot prices.  I did not taking any numbers for the MTM on their hedges as it was revalued on March 31 when spot was 933 and I don't expect the June numbers to be at 933 so if anything the revalue of the contracts will be a positive on the income statement in June.  The hedges themselves don't start until the 3rd quarter.  Still these are all guestimates until we do a couple of quarters when we find out what the actual oz mined per qtr will be.

Nevertheless its still taking a beating.