RE: Latest 3rdQ Results Not Very InspiringHi jjward,
I agree that the results are not very inspiring. The results are lower than last year mainly due to the onetime refinancing charges and penalties for getting out of the bank financing agreement. The agreement was onerous as it had many convenants and restrictions and it made sense for the company to get out of it.
Also, last year the company made a bunch by hedging its copper sales where as the since the copper price has increased the hedging profits are lower, but they are offset by higher profits on the sale.
What I am excited about is the future copper prices and how it will really help AUR's earnings.
Another neat thing about AUR is that last year its cashflow was over $.60 US per share and that will increase as revenues rise.
AUR is still very solid investment, high positive cashflow, high liquid assets, and neglible current debt, and easily affordable long-term debt.
I see AUR as potential takeover target. Who was buying the 1.3 millions shares sold yesterday?
I am defintetly long in this one.
Good Luck,
Cheers
SKLASSEN