Thursday, July 01, 2010 6:57:55 AM
I assume since on the P&L there are no payments to the partners in the JV's that their payments were made as part of the gross and only the net was booked on the report. If true, then the production was somewhat higher than the 25oz you calculated. I believe some of our mining areas are not JV but wholy owned. If so where is that revenue?
Second thing I question is when will there be ANY revenue from the farming effort? It seems that SGCP continues to "get ready" but does not have production as the highest priority. Many business models would try to maximize production to finance the "get ready" effort. Put the dredges and wash equipment in the most identified productive area and generate some revenue.
I'm holding for the long term return but would appreciate some short term glimmer of hope.
GLTA!
the paw
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