GREY:HRIVF - Post by User
Comment by
cjsellon Apr 29, 2011 8:05am
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Post# 18505275
RE: RE: severstal gold production
RE: RE: severstal gold production
According to Severstal's web site the Q1 2011 IFRS statements will be posted May 17, 2011. This is the first year IFRS standards have been used. So we will know HRG's Q1 before Severstal releases. Go figure.
I have been keeping track of bigger buys coming from Goldman over the past year. Their timing is always 14 - 21 days before results. I believe they are hedging their bets and are buying in advance of news. Remember there was no shortage of production input, and with 2x the milling capacity at the Russian mine, we should blow out the production numbers. We also know the selling price, just a tad under $1,400 oz. So with 100K oz of production we should see $440 million in revenue and between .08 in EPS. Which annualized is .32 and at current multiples of 8X forward earnings gives a stock price of $2.56 And we have not factored in any "silver". Plus the AGM date has been set for June 30, but not the location.
CJ