Gold stocks

skin said:

Triako Resources (TKR)

Following a report from Westpac Broking:- fyi........


"Forgettable Year - Patience Required

Recommendation: Speculative Buy
Share Price: $0.85
FYE Jun 2002A 2003A 2004A 2005A
Reported NPAT $m 4.5 5.4 8.0 -5.6
EPS c 12.8 15.1 23.1 -16.7
P/E x 8.1 9.7 7.4 --
EPS Growth % -33.7 18.0 53.0 -172.3
DPS c 6.0 9.0 9.0 --
Yield % 6.2 6.2 5.2 --
Franking % 100 100 100 --

Event
TKR's recorded a headline FY05 net loss of $5.6m compared to a net profit of $8.0m. Sales revenue fell 43% due to lower production and less favourable smelting terms.

Gold output fell 56% to 25,630oz while copper more than doubled to 2,366t, mainly due to grades. A significantly lower proportion of gold was produced as metal compromising the realised price.

The headline result benefited from a one off $3.4m profit from the sale of the 25% interest in ASX listed Buka Minerals (BKA). The adjusted net loss of $9.0m compared to a net profit of $8.0m in FY04.

Net operating cash outflow of $0.6m compared to an inflow of $15.2m in FY04. At the end of the year TKR held $10.9m in cash and no debt. Cash and listed equities are worth ~40cps.

Hera resources grew to 1.94Mt for 505,000oz gold equivalent. The estimated grade fell from 14.8g/t to 8.1g/t Au eq due to the use of a more conservative calculation method.

Impact
Our valuation falls 6.7% to $1.40 per share due to the reduced resource grades at Hera, however, the new grade estimates may prove conservative.

With the Mineral Hill mine closing imminently, TKR is an exploration and feasibility study play. The prefeasibility study set to finish in December 2005 should provide an indication of project viability. We are relatively confident of a go ahead due to high grades and ore value.

If all goes to plan, a development decision on Hera will be made in 2H06 following the feasibility study results. Production should start in approximately one year later.

Testing to date suggests Hera ore is readily treatable.

Further exploration is planned at Hera and around Mineral Hill.

Source: Aspect Huntley analyst estimates. Note: Net profit and EPS are pre-goodwill." end quote,

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YOUNG_TRADER said:

BMO (BMA GOLD)

If further info on stock is required I will post, CBA has been buying up lately

Excellent value at present (Short Term overhang off SPP @ 28cents)

6 month target: 50cents

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sunboy said:

Good news of St. Barbara Mining. There should be a takeover in the next month. After the perfect result of the last year there are several investors interested in St. Barbara. The stock should reach the 1 Euro within the next weeks.

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crackaton said:

Um what news? Why 1 euro? That would make it nearly 2$, can't see that happening.

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sunboy said:

The story of the takeover of barbara mines comes from one of the most popular german stock magazines. If somebody is interested in, I will inform you in this forum about the original text last week. Stock Goal: 0,60 - 1 Euro

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sunboy said:

The story of the takeover of barbara mines comes from one of the most popular german stock magazines. If somebody is interested in, I will inform you in this forum about the original text last week. Stock Goal: 0,60 - 1 Euro

Click to expand...

sunboy said:

The story of the takeover of barbara mines comes from one of the most popular german stock magazines. If somebody is interested in, I will inform you in this forum about the original text last week. Stock Goal: 0,60 - 1 Euro

Click to expand...