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Allied Nevada Gold Şirket Message Board

  • a8bil a8bil Feb 24, 2014 7:33 PM Flag

    Reconciling Q4...

    So, my back of the napkin analysis is as follows:

    INCOME
    Total Revenue -- $83 million

    EXPENSES
    Total Production Costs - $57.4 million (including $12.5MM write off, $45 MM without)
    Dep & Amort -- $12 million (compared to $19 MM for the prior 3 quarters)
    Exploration - $.5 million
    Corp. Exp. -- $3.5 million
    Other -- $13 million (losses on sale/property held for sale)
    Interest Exp. -- $9 million

    Basically, there was a loss of $23 million on the quarter, $25 million of which was based on write offs and losses on properties for sale. Without their negative effect, the co. gained about $2.5 million, prior to application of the $8 million tax benefit and the impact of hedging, etc. Okay, not great, but keep in mind that $9mm is non-cash depreciation/amortization, so net you're looking at $11.5 million after adjustments.

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    • None of the PR's give the fourth quarter results, but available from the 10K at the NASDAQ website

      2013 Fourth Quarter
      Revenue -- $82,972
      Total cost of sales -- $81,149 (1)
      Gross profit -- $1,823
      Net Income (loss) -- (16,614)
      Basic income (loss) per share -- (0.18)
      Diluted income (loss) per share -- (0.18)

      (1) Includes a $12.6 million write-down of production inventories. See Note 4 - Stockpiles and Ore On Leachpads for detail.

    • monarch6500@sbcglobal.net monarch6500 Feb 24, 2014 9:10 PM Flag

      Another view.

      Total Revenue
      2010......130,930
      2011......152,029
      2012......214,559
      2013......267,901

      2013Q1....49,190
      2013Q2....58,998
      2013Q3....76,741
      2013Q4....82,972

      On a background of an improving metals environment.
      Large short position.
      Improved expense profile.

      Sentiment: Strong Buy

      • 1 Reply to monarch6500
      • That's good, but without accounting for all expenses, I'm not sure it is fully accurate.

        Here's another way to view Q4 from a cash perspective (net of all of the adjustments and hedging effects):

        Total Revenue -- $84 MM
        Production Cost - $45 MM
        Exploration - $.5MM
        Corp. Exp - $3.5MM
        Interest - $9MM

        Net -- $26MM

        Again, this can be somewhat misleading, as there is a large capital expense involved in mining, which becomes a depreciation charge when its useful life is consumed by use/time/etc. But subject to that observation, this gives some perspective on operations.

    • ANV management needs to learn how to communicate effectively and in simple language.

      They should also provide a clear guidance that would indicate what revenue and EPS they expect to realize in 2014.
      Investors want to know, what is the outlook.

 
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