joverke, re-read slowly...
Earnings without recognition of Inmet relief would be three times what you posted. We were shut down part of December as the expansion was folded into the operations. Otherwise we would have produced over 21,000oz. AuEq. and will in Q4 that is already half over. PDI with Metco got a new road to build and one of the permanent camps. Obviously they were satisfied with the job on the by-pass road. Look at the four fold increase in the PDI revenue stream. There are now $29,000,000.00 in assets set aside for PDI. With 52,000,000 shares you can do the math. Heap leaching has proved itself on large scale and will be fully commissioned mid-FY 2014. That will be before end of calendar 2013. Remember that is $450.00oz. AuEq.. Stockpiled ore continues to accumulate with no additional mining costs for that ore. Red Kite looks iffy, but is it due to PTQ or Red Kite having problems? Behre Dolbear NI 43-101 on LP coming soon and will double reserves in Spain, bringing back open pit.
As to short term borrowings, that is certainly not unusual and no big deal. Sometimes cash flow does not match obligation in the short run. Read the information about projected cash flows and income for operations.
Unfortunately, we are currently at the mercy of those selling anything with 'gold' in its name. Even cereal companies!!! We are very profitable at $1,300.00/oz. and easily make up the lost revenue from a higher price with higher volume. We now have $0.10 EPS in the bag, same as all of FY 2012, with 4th quarter to go. That will give us a great YoY improvement. To achieve that at the same time we expanded operations is a feather in the cap of management! With expansion and higher gold grade FY 2014 should be above $0.15 EPS with gold at its current level. The most important things now are to get additional financing to spin out PDI and expand in Spain quickly. That is why the Duke and Doctor are in Zurich and talking about Spain's opportunity.
Share price may not move much until GDXJ recovers. PTQ never trades on fundamentals.
