2nd half results

2nd half results should be out on monday 31st (3 weeks away) and should be quite impressive

The Chilean operations gave an un audited net profit of $2.16 million in the March quarter and EBIT of $5.49 million to the end of May which must be generating substantial cash flows

The march quarter copper price averaged around US$2.30 lb and has since averaged around US$3.40 lb (today US$3.51 lb) hence the large increase in EBIT

IMO it is only a matter of time before SMO gets re rated and if copper can stay around the current levels then NPAT 06/07 can hit $15 million or earnings of 3.4c per share

Looking forward to the drilling results at Cinabrio Block 2 and the Andres mine which hopefully will be out soon

Cheers

kawartha

DYOR - I hold SMO