annual report npat up 300 percent, page-4

Looks like an excellent report , and totally in line with my conversations in the past few months with Bob .
Worth noting was that no actual tax was paid due to tax credits . So in effect they made $ 56.2 m .
Credits also extend way past next year I believe .
Exploration is underway on no less than 6 projects .
thats not a typo , 6 projects ,and all with great prospects .
$ 238 m in the bank plus $30m payment from CDE due in a few months .
So ...... $56m profit ,$270 m cash , 8.9% of TNG , ,6 major projects underway ,2 new mines by 2009 , Endeavour increasing production in this half year ,huge exploration upside ,,and still a market cap of $500m .
Management have certainly got their act together in the past year and deserve a rerating for their performance .