TSX:SGR.UN - Post by User
Post by
AngelEyes3on Mar 21, 2014 10:29am
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Post# 22350891
Well the report was not all that bad
Well the report was not all that badThe non cash imparement charge of 83.1 million is book keeping only. They are lowering the value of the assets on the books to reflect current gold values in the market. The good news is that they have lowered their cost per oz produced. They have a solid asset here but they spent to much money on drilling in the past. As they go down deeper the deposts seem to be merging therefore this is positive. They just need to cut costs until it is below or around 780 per oz of gold produced and that will help them to recover. Sprott is heavily in this stock therefore they feel they have a future.