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Alexco Resource Corporation Message Board

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  • dope.slap dope.slap Mar 28, 2012 9:20 PM Flag

    Second Half 2011 AXU Results

    I'm pretty sure that one of the last posters you want a response from is "dope.slap".

    But ... I've really been delving into the numbers today (please note ... I am a dope, so I probably do not understand the accounting practices of mining companies as well as I should). Up until recently, I have been an AXU holder for the incredible potential that the company offers. Oh .. and I go on-and-on about M&A, but I'm going to stop that, for now.

    OK ... here goes ...

    <I've been long and strong for a year in this share, and frankly I must confess I'm disgruntled by the numbers that have just come out.>

    I have been long since $1.20 a share: I, too, am disgruntled.

    >We were expecting some bad numbers, true... power outages, etc., but 0.03 per share ??? That was low even for my lowered expectations>

    Further, I think we could actually see a LOSS of a couple cents for 1Q2012, especially if the Q1 shutdown was longer than expected. Since we have not heard a peep this quarter I am even more concerned (AXU use to report everything: power outages, increase in TPD, etc.)

    < Net income fell, our total available cash is at around 41M $ down from over 50M $... There a couple of good numbers, but the big picture, at least my first impression, is rather dark>

    For more darkness, read my 4-point questions. Also, I did not catch the ~ $9M reduction in cash ..

    "The Corporation’s cash and cash equivalents at December 31, 2011 totaled $41,741,000 compared to $50,443,000 at June 30, 2011, while net working capital totaled $47,997,000 compared to $53,119,000 for the same dates respectively. The decreases in cash and net working capital primarily reflect the net cash inflows from operations, offset by expenditures during the six month period ended December 31, 2011 on the calendar 2011 exploration program within the Keno Hill District as well as Bellekeno mine development."

    >I guess I need to strengthen a bit my deep felt conviction that AXU is a natural born winner (but not in 5 years time, please !!!). <

    Another point: When AXU was planning all of this 2-3 years ago, silver was much lower. Did they expect to have losses for the first year of production @ silver = $20 per ounce?


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