Bottles You say that you "plan to sit and ride this one to Q4 earnings to see what happens".
My question is WHY?
- They said that production for 2013 is expected to be little changed from 2012's.
- They said that the high grades encountered in Q3 are not expected to repeat.
I estimate head grades to be near the lows of recent times and costs to be close to $1000/oz AFTER the shaft extension is finished in Q1 2013. Once its capital and maint. expenses are taken into account, Seabee is not expected to generate much free cash flow if any in 2013.
Based on my research, I also speculate that their other 2 properties are not economically minable and will fetch small sums if sold this year.
So, what's there to look forward to this year?
There are better stocks out there.
Disclosure: I sold much of my position on today's pop and still hold a very small position.