Headline EPS was .13 / share but if you READ through their earnings report you'd see they PRODUCED 32,000 ozs of gold but only sold 20,000 ozs, and held off selling 38,000 ozs of silver. If you take that and sell it at todays metal prices ($1640 gold & $30 silver) you gett approximately another $20.8 million in Revenues or about .23 / share EXTRA. Which would make this earnings around .36 cents per share.
They did state some capital costs associated with the processing of this concentrate, but even a 6 cent knockoff would make this report around 30 cents.
Maybe i'm missing something here but this seems like a major overreaction and I'm going to buying some more shares (just bought around 25.74) - check it out and please let me know where i'm mistaken
maybe would charge costs of 500 to 600/oz and tax cost so maybe 600 /oz profit and add silver aftertax so get gold 6mm profit plus 1mm or so from silver divided by 89 mm shares add 8 cents or 21 cents eps......cash would have been up 20++ mm or so.....so for this we lose 270 mm market cap?
There would be no production costs because they produced it in this quarter so the production costs are already included in the quarter's expenses. But you do have a good point about counting after tax costs - take out a generous 1/3 of that .23 extra and you get around 15 cents which would put us right in the mid to upper twenties in EPS for the quarter. Not something I consider a 10% let-down in share price.
Your Friendly Neighborhood, Spider
PS - I bought some shares at $25.75 & $25.50 today - little much of an over-reaction