LOL Chuck, yes almost verbatim, opening line on the very first page!
$46.1m pre-tax profit is 20c per share fully diluted... on gold sales of only 83,347 oz in FY12
For FY13 they're forecasting sales of 155-195k oz depending mainly on the average underground grade at Mt Monger, somewhere between 5.6 and 7.3 gpt is their estimate
Their operations are ramping up beautifully, translating into significant profit growth along the way. If they keep on schedule, FY14 will be spectacular
We overestimated the gold poured numbers a bit... should have used 700kt rate instead of 900kt but so what really?
Their cash/bullion position barely dropped at quarter-end... still $80m after investing $34m in the quarter.
SLR Price at posting:
$2.76 Sentiment: Buy Disclosure: Held
