Replies to post #89063 on Zeev's Turnips Patch-No Politics (ZEEV)

[brainlessone]

my brother the lawyer is 100 percent invested long since last thursday in his ira

[Babylon]

It wouldn't surprise me either if this was actually used as a cloak (the Iraq situation) to interevene in the marketplace publicly, but underneath it all, it may be something different all together. A good tip to that would be if during the "rebuilding" phases they are openly public about it then also in "minimizing economic impact" or something such.

[basserdan]

*** Wheaton River Reports Solid Earnings ***

Hi ml,
Not too shabby..... <gg>

Wheaton River Reports Solid Earnings
Wednesday March 19, 5:15 pm ET


VANCOUVER, British Columbia--(BUSINESS WIRE)--March 19, 2003--Wheaton River Minerals Ltd. (AMEX:WHT - News; TSX:WRM - News) today reported net earnings of US$5.6 million or US$0.04 per share for 2002 compared to a net loss of US$10.7 million or US$0.18 per share in 2001.
Since acquiring the Mexican assets in June 2002:

Revenue more than tripled to US$35 million in 2002 compared to US$9 million in 2001;
Earnings from mining operations increased significantly to US$12.2 million in 2002 compared to US$1.5 million in 2001;
Gold equivalent sales were 106,337 ounces at a total cash cost of US$182 per ounce;
Ended the year with cash and cash equivalents of US$23 million.
Chairman and CEO Ian Telfer stated, "These spectacular results reflect the strong management and experienced personnel at our Mexican operations."

A conference call to discuss these results will be held Thursday, March 20, 2003, at 4:00 p.m. Eastern Time (1:00 p.m. Pacific Time). You may join the call by dialing 1-877-888-4210, or 416-695-5261 for calls outside of Canada and the US.

Financial Statement Highlights
Year Ended December 31, 2002
(US Dollars)
The Company achieved substantial growth during the year to become a significant producer of gold and other precious metals, as a result of the acquisition of the Luismin mining operations in Mexico.

Acquisition of Luismin

On June 19, 2002, the Company acquired all of the outstanding shares of Luismin SA de CV ("Luismin"), a Mexican gold and silver producer that owns three mining operations, for a purchase price of $85,071,000. Consequently, the results of operations of Luismin have been consolidated since that date.

During the year, the Company completed a private placement for gross proceeds of $82,068,000 to fund this acquisition.

Results of Operations

Net earnings for the year were $5,602,000 ($0.04 per share), compared with a net loss of $10,733,000 ($0.18 per share) in 2001.

Earnings from mining operations were $12,235,000 in 2002, compared with $1,503,000 in 2001, reflecting the Luismin acquisition during 2002.

The 2002 net earnings include earnings of $4,990,000 from the Mexican operations, for the six months from the date of acquisition to December 31, 2002. During this period, the Company sold 106,337 gold equivalent ounces (59,662 ounces of gold and 3,208,924 ounces of silver) at an average price of $326 per ounce, generating revenues of $34,693,000. Total cash costs were $182 per gold equivalent ounce.

In comparison, during 2001 Wheaton generated revenues of $9,010,000 through the sale of 33,711 ounces of gold from the Golden Bear mine in Canada. Total cash costs were $167 per ounce, as 2001 was the last year of commercial production. Reclamation of the site is now in process.

Net earnings for the three months ended December 31, 2002 were $2,577,000 ($0.01 per share), compared with $2,665,000 ($0.04 per share) in 2001. During the quarter, the Company sold 55,593 gold equivalent ounces (32,270 ounces of gold and 1,672,206 ounces of silver) at an average price of $323 per ounce, generating revenues of $17,938,000. Total cash costs were $184 per gold equivalent ounce. Sales for the comparative period in 2001 were nominal.

Financial Position

The Company ended 2002 with cash and cash equivalents of $22,936,000 (2001 - $1,735,000) and net working capital of $ 24,422,000 (2001 - $17,372,000).

At December 31, 2002, total shareholders' equity was $108,054,000 (2001 - $16,316,000) and total assets amounted to $152,098,000 (2001 - $21,207,000).

Outlook

Effective March 17, 2003, the Company acquired Rio Tinto's 25% interest in the Bajo de la Alumbrera gold-copper mine in Argentina and 100% interest in the Peak gold mine in Australia, for cash consideration of $214 million. In order to finance the acquisition, the Company raised gross proceeds of Canadian $333,500,000 by way of private placement, in what is believed to be the largest gold equity financing done in Canada.

As a result of this acquisition, the Company projects 2003 production, on an annualized basis, of 458,500 gold equivalent ounces at a cash cost of $124 per gold equivalent ounce.

To see the actual numbers:

http://biz.yahoo.com/bw/030319/195591_1.html

not bad, eh?
Dan

[Zeev Hed]

Actually, this rally might have been triggered by the PPT but its dynamics are not too far from self induced. The Dow did reach and exceed the level sought for the end of Phase I and the Naz was within 30 points (and yes, without intervention it could have gone a lttle lower), but these were levels where the internal structure more or less required the move up. The qiality of the move is so bad and so thin, that IMTO, it is inevitable that we will soon enter phase II of the nassacre will soon emerge. Look at the pathetic number of new highs on the NYSE, despite the Dow making a six straight day of upo movement and more than a 10% advance from the recent bottom, that is pitiful, IMTO.

Zeev

[was Steve]

PPT is overused and beat to death. Why do so many blame every uptick on the bloody PPT? Granted this rally is way more than an uptick. Its pace and amplitude have exceeded all my wildest expectaions for this stage of the rally. In fact the nas and spx have already met my first targets for the whole rally. The next ones are now in play at 900 spx and 1467 nas.

Imo fwiw, this rally up to an including today can NOT be put on the PPT. A further advance from these levels without a pullback and then i would agree that there is intervention to keep markets happy going into the war the looms at any moment. Im not here to argue with you over this, just sharing my take on what i have seen. also we have not even come close to matching the ramps in july and october of last year. Were those the work of PPT as well?

We got to levels of major oversold on daily and WEEKLY charts in the USA, Asia and Europe. The various regions have had different levels of bounce. Asia's has been uncharacteristically weak, while Europes has been very robust. Moreso than ours.

What does tomorrow bring, i havent a clue, but i got rid of a bunch of my shorts just in case da boyz want to jam it once again.

This is in no way an attack on you or what you believe. It is merely my thoughts on my persective.

Best of luck to you in your trading.
steve