## Recent

% | \$
 Quotes you view appear here for quick access.

# Pacific Ethanol, Inc. Message Board

• misskellyfitz misskellyfitz Apr 28, 2013 9:23 AM Flag

## Over Lay Your 2011 Corn and Ethanol price Charts With 2013,& You Will See Something BETTER than 2011

I Will Send You the Link Jack

They Are Making More \$ than 2011,when they Went to \$1.80

Except This Time They Own 82% Of Earnings,Instead Of 28%

SortNewest  |  Oldest  |  Most Replied Expand all replies
• The Negatives Don't Over Come THIS

Then we can get a gross operating Margin

Costs:

\$0.09 Natural gas
\$0.04 Enzymes
\$0.03 Yeast
\$0.03 Electricity
\$0.08 Denaturants
\$0.30 Other costs
....................................................................
\$0.57 per gallon * 2.8 = \$1.596 per bushel
....................................................................

\$4.4895 Positive crush spread per bushel
\$1.5960 Operating costs per bushel
....................................................................
\$2.8935 Gross Operating Margin per bushel

At Capasity Production 3 plants they use 14,285,714 bushels per Quarter

\$2.8935 * 14,285,714 = \$41,335,713 per Quarter =\$13,778,571 per month

Calculation:

Ethanol yield per bushel 2.8 // later we also (later is in Q2-13) can count with Corn Oil value per bushel

\$7.490 = A. Ethanol earnings per bushel of corn
\$1.722 = B. D6 RIN earnings per bushel of corn
\$1.730 = C. Co product earnings per bushel of corn
…………………………………………………………………………………………………….
\$10.942 = Earnings per bushel of corn
\$6.4525 = Corn cost per bushel of corn
…………………………………………………………………………………………………….
\$4.4895 = Positive corn crush a bushel

• "Except This Time They Own 82% Of Earnings,Instead Of 28%"

But how many shares and warrants have been issued since 2011?
And how much more debt is there now? I am not going to look it up, but
if you own shares, you should. Just don't tell what is good without

Biff

• The good:

Margins back to 2011 level.
Production costs decreased.
PE ownership at 82%
Improved balance sheet, financing pushed to 2016
Relativity low market cap of 49m