True but BAA also has a ton of shares issued for a big financing plan that was put out back in 2013. They have taken out lots of loans that are backed by their production on one or two of their deals. One of them was with Auramet Trading, LLC and The Auramet loans are repayable in six monthly physical gold deliveries commencing July 2014 and ending December 2014, through the delivery of 1,558 ounces each month. The Company also negotiated a gold prepayment arrangement which provides for prepayment by Auramet for gold sales to Auramet up to 30 days in advance of gold delivery. The amount of prepayment at any one time will not exceed $7.5 million. Then lets not forget that their production cost keep going up this was from their 3rd Q report. Gold has gone down As well so if production keeps going up along with cost and gold has gone down from that 1320 range they sold for last Q things are not getting much better.
3rd Q cash costs of $821/ounce ($789/ounce in Q2 2013
So I would rather wait for this next Q and see just how they are really doing. Right now I like still think PZG, AAU, IAG, MUX, KGC and AEM are the ones I would be watching. Again I have warmed up to gold here but there are still plenty of gold stocks that have their problems.
AI
