RE: RE: RE: RE: RE: RE: Bashed to the bottom My Apologies to the board for having to repeat the obvious - I just hate misinformed posts:
Mr. Notright - please tell me you don't take the globe and mail quick stats as your gospel for due diligence? They are notorious for being out of date and full of errors.
The only reliable source is the companies own financials -here is last quarter reported Balance Sheet
March 31 December 31As at (millions of Canadian dollars) 2012 2011----------------------------------------------------------------------------ASSETSCurrent assets Cash and cash equivalents $ 1,702 $ 718 Accounts receivable 325 376 Inventories 149 142 Prepaid expenses 5 10---------------------------------------------------------------------------- 2,181 1,246Property, plant and equipment, net (Note 4) 7,213 7,227Exploration and evaluation 89 89Reclamation trust 61 58---------------------------------------------------------------------------- $ 9,544 $ 8,620--------------------------------------------------------------------------------------------------------------------------------------------------------LIABILITIES AND SHAREHOLDERS' EQUITYCurrent liabilities Accounts payable and accrued liabilities $ 559 $ 479 Current portion of employee future benefits 47 47---------------------------------------------------------------------------- 606 526Employee future benefits and other liabilities 476 480Long-term debt (Note 5) 1,801 1,132Asset retirement obligation (Note 6) 911 1,008Deferred taxes 1,364 1,264---------------------------------------------------------------------------- 5,158 4,410Shareholders' equity 4,386 4,210---------------------------------------------------------------------------- $ 9,544 $ 8,620----------------------------------------------------------------------------
When you subtract from the recent long term debt issue ($1.801B)from the cash on hand ($1.702B) they are virtually debt free ($99 mil) compared to a nearly 10 billion dollar company is small potatoes. This was verified by management in their latest conference call and presentation. They have a similar working capital deficit if you want to include that as well - still not the approx $4 Billion that the forum's self proclaimed expert "Mr. Notright " would have you believe from stale data fed websites.
Be careful when using these sources - they must always be verified with company financials.