Value Microcaps Motherboard

[cliffvb]

QUA..cloo1,I checked and production was actually up 16% from the previous quarter in Q32006. They did have two problems:
1. Sales were down as there were delays in shipping their inventory. The company said they had taken steps to make sure that problem did not re-occur.
2. Biggest factor were all the hedges their lender required them to take out to get the Robinson mine in NV financed. Those were all at low prices and their earnings took a huge hit on derivative losses as copper prices soared that quarter. Important to note that all of their hedges will be gone after the current quarter and they were not required to hedge any of the production for their new mine in Arizona that will start production next year. They learned their lesson well.