LoneClone GORO .03 was unsustainable but their still paying nearly 2.5%. Operationally GORO is classed an exploration company. The cost of the plant expansion is expensed rather than capitalized. The entire $17 million for the 2013 plant expansion, materials, equipment and labor have been subtracted from GORO's bottom line earnings. Should be more $ for Q4 but the mill expansion is complete. This expansion doubles the mill capacity. The question will be, how fast they can get the mine capacity at par with the mill. 2013 was a tough year, tring to expand with Low price of metals and paying the divy. With the mill complete, 2014 will blow away 2013 operationally. Their only analyst is forecasting .60 in earning for 2014. Care to comment??
Someone here mentioned the book value for GORO as being low. Most companys need to drill off millions of ounces to get the feasibility for the banks. GORO didn't need the NI43101 to get initially financed, and hence, only drilled enough to steer them to the production metals. Only recently they started working on the report. Their low booked 43-101 resource will hold down their book value relative to their peers.
I'm wondering if Hothchild will need to sell any more shares in the future??
Just presenting a little more of the picture.
Checkmate28 Wishing you the best for 2014
