'how can you "stay short" as you say. You have no money'
He apparently has been shorting PAAS since 19. I have been selling PAAS since 20. My position is very small at the moment but I feel pretty good that it will go up. The pull backs so far have been small. I started selling because in the past few years there has been too many gut hitting pull backs. I am too old to take the change on that and I am too smart to short a stock with is in an industry in favor and making lots of money.
1st qtr numbers based on 4th quarter, but adjusting for change in prices and production: I think we might hit $0.36 for the 1st qtr or 2007 and maybe $0.49 for the 2nd quarter of 2007. Remember that the 4th quarter of 2006 had a nonrecurring capital gain, (probably $0.30 without the cap gain) and that zinc prices have been soft for January, but are now recovering.
I think silver and gold, plus base metals prices will be very strong from here on out for the first 3 quarters of 2007. Also look for long term US interest rates to be lower in February 2008 than they are today.
I am very positive on gold and silver shares.
If I calculated correctly, about .10 of the .39 was due to the one time gain on sale of an asset. However, this is a before tax figure. So net of income taxes, the gain contributed about .08 of the .39.
That means by my calculation they did .31 purely from operations despite selling less ounces than forecasted. That still beats the estimates by .05 after tax.
Outstanding results without question.
My spreadsheet projects $1.40 to $1.50 for 2007 based on the guidance they issued and using current metals prices. Higher silver prices of course means higher earnings.
My spreadsheet shows that for each $1.00 higher avg. price for silver, the after tax EPS jumps about .15. Put another way, at $18 silver I get about $2.00 per share in EPS.