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Queenstake Resources Ltd (qee)

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Last Post: 6/29/2007 7:03:32 AM - Followers: 8 - Board type: Free - Posts Today: 0

Queenstake Resources, Ltd. operates as a gold mining and exploration company. It engages in the mining, processing, production, and sale of gold. The company owns a 100% interest in Jerritt Canyon gold mine that is located 50 miles north of Elko, Nevada. Jerritt Canyon is an operating gold complex with four producing underground mines and a 1.5 million ton per year capacity processing plant. As of February 7, 2005, Queenstake Resources’ estimated proven and probable reserves were approximately 875,000 contained ounces. The company was incorporated in 1977 and is based in Denver, Colorado. http://www.queenstake.com/ Financial Review Third quarter revenue from gold sales totaled $23.7 million compared with $28.0 million for the year ago quarter. This was due to less gold ounces sold, as was expected under the redevelopment plan, partially offset by a higher realized gold price of $442 per ounce in the third quarter of 2005 compared with $402 a year ago. Third quarter 2005 operating costs were $22.4 million as expected under the redevelopment plan. Cash operating costs at $401 per ounce for the third quarter were in line with the redevelopment plan as ounces produced and ore tons processed were better than expected, offsetting higher energy and commodity costs. Depreciation, depletion and amortization decreased 34% from the 2004 quarter to $3.5 million in the third quarter of 2005 as a result of lower production. General and administrative costs of $890,000 were 25% lower than the year ago quarter as a result of the reduction of staff at the corporate office during 2005. Queenstake has one of the lowest corporate overhead costs among emerging gold producers. Cash generated from operating activities improved to $5.4 million compared to the second quarter of 2005 of negative $3.3 million and was 80% higher than the $3.0 million generated in the third quarter of 2004. Cash from operating activities includes cash provided by working capital assets, which during the third quarter was primarily due to a draw down of finished goods inventory. Working capital assets in the 2004 quarter were augmented by a temporary increase in accounts payable. The Company's balance sheet remains strong with cash and cash equivalents of approximately $14.0 million at the end of the third quarter, compared with $16.9 million at the end of the second quarter of 2005 and $6.1 million at the end of 2004. The Company has no long-term debt other than capital leases for mining equipment.
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PostSubject
#143   Bob have you started a Yukon Nevada board golden08 06/29/07 07:03:32 AM
#142   Newly acquired Jerritt Canyon in Nevada, United States NYBob 06/26/07 06:24:05 PM
#141   Bob thanks any input regarding the deal? PENNYPRINCE 1 06/26/07 09:14:44 AM
#140   PLAN OF ARRANGEMENT WITH QUEENSTAKE BECOMES EFFECTIVE NYBob 06/25/07 10:05:18 PM
#139   Welcome to Enjoy QEE new board - NYBob 06/25/07 07:23:40 PM
#138   Bob any idea when QEE trades? PENNYPRINCE 1 06/25/07 04:05:18 PM
#137   Queenstake Announces Extension of Bridge Loan Facility - NYBob 05/02/07 05:32:42 AM
#136   QEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!!!!!! RoyalShmily 04/16/07 04:12:43 PM
#135   Well rossi. I wont sugar cote it for golden08 04/09/07 08:43:26 AM
#134   Yep,I think you are right.Hope we dont have rossi 04/08/07 07:15:08 PM
#133   The one thing im scratching my head over golden08 04/08/07 09:57:04 AM
#132   NOT GOOD!Making a loss and a reduction in reserves. rossi 03/31/07 06:49:22 PM
#131   Friday March 30, 8:10 am ET rossi 03/31/07 06:47:14 PM
#130   For the year ended December 31, 2006, the rossi 03/31/07 06:44:26 PM
#129   Yukon Nevada Gold Corp sounds much better.I thought rossi 03/22/07 06:10:30 PM
#128   Queenstake and YGC Execute Definitive Combination Agreement the sinister one 03/22/07 09:42:25 AM
#127   hi james, did qee ever do the merger? mick 03/17/07 04:21:43 PM
#126   In today and hope to build a position. PENNYPRINCE 1 03/15/07 10:46:58 PM
#125   Don't know how that came about. That is enlightened1 02/19/07 10:46:29 AM
#124   Sorry Golden08 No know how that duplication of enlightened1 02/19/07 06:47:59 AM
#123   THIS NOT FROM ANY DOUBT, as I figured enlightened1 02/18/07 12:23:58 PM
#122   Im just curious how diluted my shares of golden08 02/18/07 12:09:32 PM
#121   THIS NOT FROM ANY DOUBT, as I figured enlightened1 02/18/07 11:54:43 AM
#120   You realize that with that amount of shares golden08 02/17/07 06:19:26 AM
#119   TRUE, I hadn't allowed for the R/S so enlightened1 02/16/07 03:54:09 PM
#118   Are you sure?My understanding is that there will rossi 02/16/07 03:20:51 PM
#117   GOT THE ANSWER NOW - about 643 mllion enlightened1 02/16/07 02:26:56 PM
#116   The good points are that it is joining enlightened1 02/14/07 04:00:54 AM
#115   Anyone know what the new outstanding share count golden08 02/13/07 01:57:18 PM
#114   FURTHER E-MAIL FROM QEE which addresses my question enlightened1 02/13/07 11:56:49 AM
#113   AN E-MAIL FROM QEE enlightened1 02/13/07 10:56:53 AM
#112   APOLOGIES THAT SHOULD HAVE READ QEE enlightened1 02/11/07 04:34:12 PM
#111   No I cant phone them.I am in NZ rossi 02/11/07 03:20:40 PM
#110   We have always to remember that changes in enlightened1 02/11/07 11:44:43 AM
#109   Hmmm.I wonder if that is a good reason rossi 02/10/07 03:54:48 PM
#108   But there will be no QEE or YGC enlightened1 02/10/07 12:15:20 PM
#107   QEE is an AMEX stock.I expect it to rossi 02/09/07 03:29:44 PM
#106   Will this Newco be traded on the US enlightened1 02/09/07 11:08:41 AM
#105   DENVER and VANCOUVER, British Columbia, Feb. 5 /PRNewswire-FirstCall/ rossi 02/05/07 05:02:00 PM
#104   on the radar. bihoreanu 01/18/07 07:17:03 PM
#103   News - Queenstake Reports Fourth Quarter Production and the sinister one 01/16/07 10:28:57 AM
#102   News This Evening - EOM. Metalsguy700 10/04/06 11:15:56 PM
#101   At $.25 we are Back BUY Territory Metalsguy700 10/04/06 03:54:48 PM
#100   Queenstake Continues to Expand Gold Mineralization at SSX basserdan 09/13/06 08:47:03 AM
#99   Thanks I agree and hope you get some PENNYPRINCE 1 09/10/06 10:34:56 AM
#98   PRVB looks very nice. Will get in on golden08 09/09/06 11:17:00 PM
#97   Added QEE here at .36 PENNYPRINCE 1 09/07/06 11:02:21 AM
#96   I hear you but IF there is one PENNYPRINCE 1 09/05/06 03:29:25 PM
#95   James444ct, fine, but No Margin for me. Justin 09/05/06 03:20:51 PM
#94   I have a nice position but boy the PENNYPRINCE 1 09/05/06 03:17:58 PM
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