RE: RE: RE: Third quarter ended September 30, 2010... "Much worse than I expected"
... SPM must reduce the costs, the already did. The operating costs for mining in the 3 month lay 20 cents below the costs of the previos year (Q3 2009). Okay, the earnings just increased for about $186,255 in the same period. It seems that SPM couldn't take much advantage of the increased metal prices because of contracts. Perhaps there primary attention since spring was the Platte River deal. Perhaps that is one of the reasons why Gary Cope has changed positions?
Anyway, SPM stays in the game for a big move upside IMO. Always remember EDR -> negative balances but the stock went upside.
<pre>
Three months Three months Nine months Nine months
ended ended ended ended
September 30, September 30, September 30, September 30,
2010 2009 2010 2009
$ $ $ $
Revenue 8,515,531 5,413,071 21,001,736 12,317,106
Mine operating 1,186,255 1,800,936 3,475,512 3,796,961
earnings
Gain (loss) on
dilution and
deconsolidation
of Scorpio Gold
Corporation - (31,663) 20,164,101 1,205,738
Net earnings (1,342,211) 652,652 15,983,163 689,442
(loss)
Earnings per (0.01) 0.01 0.10 0.01
share (loss)
Adjusted EBITDA
((1)) 2,568,856 2,010,441 6,078,646 4,283,693
Cash operating
cost per tonne(
(2) )USD 43.74 43.94 43.44 41.62</pre>