RE: eps 2.4 centsIn the context of four successive quarters of recorded losses for Net Earnings, the actual earnings identified by Amerigo for Q3, 2009 were quite close to the "in the region of $0.03 earnings per share" projected in my post no. 27567088 Oct. 24, 2009. This reflects no great foresight, given that the company announced production numbers for Q3 earlier in October.... it rather relative accuracy of operations modelling based on good production numbers and public domain commodity pricing. Following review of the SEDAR details posted by Amerigo, the following selective extracts from that public information may be interesting to some fellow BB colleagues as it reflects improvement:
- The Company has reduced capital and discretionary expenditures and has suspended dividend distributions for the foreseeable future.
- As a result of the improvements in cash flows(operational and negotiated debt-repayment schedules is my interpretetion here) .......management believes the Company will be able to meet its obligations as they come due for at least the next 12 months. Consequently, management determined the going concern note that was included in the Company’s financial statements as of March 31, 2009 and December 31, 2008 was no longer required as of June 30, 2009.
- The Company also believes that additional cash could be realized in the next 3 to 15 months from the exercise of outstanding warrants and stock options currently in the money (a little of this has already happened since Oct. 1st).
Molybdenum continues to be a drag in both reduced Moly revenue and in negative moly adjustments for Q4, 2009 at current pricing.
Peace,
Good Decision-making to All,
ElJ