bear back of envelope

Last years net profit $1.117 Bln

Last QTR cost, 1031
assume the BEST that it doesnt continue To rise when copper credits have fallen significantly since jan 1 along with the GOLD price in AUD terms and it needs more spend according to last announcement.........

sneaky easter downgrade to guidance of 2M / PA, further money needed, CEO call that Gold will be strong when at 1617, totally wrong

Current gross margin 1400 less.1031, 369, say 400/ oz

Company running at a approx GROSS PROFIT rate of 800M/ PA

So 800M less expenses,,,,,,,,,,you get the picture,,,,,,,,,,,,its very very bad......

if you then take the punt POG aud will stabilize here, EPS probably for this six months at best should be ZERO

So thats 46 cps for the year

Current SP1953/46

Again massive number, Illustrating why imo the current share price is totally unjustified and why even 1655 is going to be a struggle if these conditions continue......

The party is up,,,,,765000000 shares and only one exit door,,,should make for some memorable trading come monday

many of these big mining companies have been built on a GFC assumption,,,that Gold prices would never fall,,,,just like the housing market in usa,,,,,many will go out of exisitance and those that do survive are only going to be a shadow of their former self......

first Eagle about to see a name change to broken eagle