GREY:MLKKF - Post by User
Post by
godisgr81on Jul 20, 2010 7:33pm
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Post# 17283297
Update regarding Q2 record Revenue
Update regarding Q2 record RevenueAfter speaking with Marc, the discrepancy in revenue is from the revenue recognition from Q1 or called the hang over from previous period of which the title of the shipment being recognized late or once the title is transferred to the buyer. He expects that for the following quarters the transfer of title to be tighter especially the shipments to Mexico.
He also stipulated that operating cash flow from Q2 is their best ever and should be recognized that great progress is made at Mineral Park.
July operation to date so far is equal if not better than June production, so expect continued progress. They will continue to provide monthly operational update until they achieve Phase 1.5 targets which will happen after the new flotation cells are in place Q3 of this year. After this, they will provide Quarterly production reports.
He hasn't seen the final Q2 numbers but he expects it to be positive. He does however states that premium paid for expiring the notes early might be recognized in Q2 or maybe spread out throughout 2010. Another is the exchange rate windfall from the notes which may or may not be recognized in Q2. All in all, he does expect a positive quarter, he just doesn't know how good the numbers will be.
For what it's worth, he did have an end of September target above $3.00 sp, This sp is contingent upon market dynamics and no double dip scenario.