First Nickel Inc. FNKLF

RE: RE: RE: Any guesses on eps for 2011

[ATM_EngTech]

The short answer is yes.

Probable Ni resources using 90% overall mining recovery and 20% dilution is 52M lbs of Ni.

Using the forward contract hedge and closing it resulted in a cash infusion of 35.2M for audited year 2011, creating a 5 cent per shr earning on the outstanding shares.

My personal calculations included a 30M credit facility infusion, which is cancelled (almost) out by the smart hedge return. It includes the potential full share dilution of +800M. Current Ni and CDN dollar price would market cap at +60M.

Per the balance sheet, using the current weighted average shares of 480M with a cash infusion of 35.2M is
.073 per share. Subtract this from recorded earnings and you get a loss of
.023 per share.

The long answer is no.

I can see by plugging in numbers how volatile FNI value is.  Going forward with better mineral price, dollar and global economic growth, the numbers quickly change favorably. What I am personally stating is the hard cold black and white picture at any given moment in our space and time.

All we can do is cross our fingers that these factors get better. Things don't look all that great in this current snap shot of the world. I for one, optimistic I am.

You have been on this post a long time, I am disappointed you have not followed this company and its numbers better.