Cash flow from operations was 5.6 million in the 2nd qrt. Silver probably averaged a $2 increase from the 28 average price(2nd qrt) in the third quarter. This quarter...33 to 35 may be a conservative estimate for average prices. Just on La Negra's 600,000 production of silver equivalent... a $5 increase is a $3 million increasein cash flow.
Once Shafter starts commercial production (3.8 million ozs annually...1 million quarterly) cash flow from operations should move from the 8 Million level quarterly to over 25 million per quarter.
Exploration/mill expansion and acquisition strategy will bloom during 2013.
call ir and see what they say....cash flow good...why a secondary????????????????current share structure not further dilution is issue ...but if shafter has gold and la negra jus increased mine life dramatically!!! do your own due diligence