|Uruguay Mineral (SEE LSE:OMI)
||COM SHS NPV
||EPS - Basic
||Market Cap (m)
Real-Time news about Uruguay Mineral (SEE LSE:OMI) (London Stock Exchange): 0 recent articles
|stevea171: No takers to my question?
Here are my calculations based on current company guidance, POG, etc.
Uruguay Minerals (Orosur?).
09/10 Full year actuals/estimates:
Production: 13,173 oz
Sale price: Av $912
Revenue gold: $12,014,000
Silver credit: $484,000
Total revenue: $12,498,000
Q1 result: loss ($2.2 million)
Production: 15,000 oz giving 28,200 oz for H1 (full year estimate 60,000)
Sale prices: Sept $1000, Oct $1050, Nov $1100, av $1050
Revenue gold: $15,750,000
Silver credit: $500,000
Total revenue: $16,250,000 (increase of $3.75 million cf Q1)
Cash cost: $750
Gross profit: 15,000 oz x $300 = $4.5 million
Amortisation and depreciation: $2.5 million/qtr ($10 million full year estimate)
Capex: $2.3 million ($1.7 million exploration as Q1, $0.6 million other)
Cash balance: $10.3 million (Q1: $8.1 million)
Result Q2: profit of c. $1.6 million, based on implied charges/costs Q1. To be announced January.
Half 1 result: (loss) $0.6 million
The good news is that after 6 quarters of losses, Q4 07/08, Q1-Q4 08/09, Q1 09/10 UGY should make a profit in the current quarter but probably not enough to bring H1 into profit after the $2.2 million loss in Q1. Expect a small H1 loss, followed by a decent profit for the full year if production and cost targets are met or near met and gold stays above $1050.
Production: 15,800 oz
Sale price: Av $1100
Revenue gold: $17,380,000
Production: 16,000 oz
Sale price: Av $1150
Revenue gold: $18,400,000
Gold sales: $63.55 million
Silver credits: $2 million
Royalties and taxes: ($2 million)
Operating expenses: ($44 million)
Amort. & Depreciation: ($10 million)
s/t: $9.5 million
less capex write down Provision: ($1.0 million) for exploration.
plus recoveries (sale of Montevideo office): $2.2 million
General and Admin: ($3.0 million)
Income before tax: $7.7 million
Tax: nil due to tax credits from past losses.
Estimated 2009/10 profit: $7.7 million (Half 2: profit c. $8.3 million)
Shares in issue: 48.7 + 16.9 (Fortune Valley) = 65.6 million
Shares in issue (av): 57 million
Earnings/share: 13c (8p)
Share price: 35p
Price/earnings ratio: 4.4
If share price rose x 4 to 140p, forward P/E rating would increase to 17-18 which would bring it more in line with its peers in the Junior gold producers sector.
Profit: $12.2 million (60k oz production, $1125 av gold price)
Earnings/share: 18c (11p)
Price/earnings ratio: 3.2
Gold Junior sector P/E: average for a small-cap producer is 27 for CY2009 and 19.9 for CY2010 (Kitco).|
|qpwoei102938: Crazy, crazy share price for such figures.
We should be on a multiple of the current share price, but not complaining as I have been adding for the last few months.|
|daz: At the moment with FVX closing at 18c to buy, it converts into UGY at just under 23p. It's clear there's no reason to buy the UK shares when you can buy them at a discount by buying FVX
Given the current market uncertainty, FVX could quite easily fall again, which will put further pressure on the UGY price.|
|themoneymonster2: What makes me laugh is that everyone here was saying that UGY's share price was hovering at all time lows because they didn't have the resource to keep the company going past Arenal Deeps has been depleted.
Then they announce a stonking deal where they buy 2 million of potential resource for paper at the current share price equivelent to around $4 an ounce when gold is at $1045.
Seems they can't win.|
|cfro: cyberbub -
Indeed that is why imo the share price should NOT be at 36p BUT alot higher.
The decrease in production, the lack of explo and the short mine life is more than in the share price.
All i am saying is that if Gold does go up even a tiny amount from here then UGY is even more stupidly undervalued.|
|cfro: HI rivaldo, you in this as well ? Hope im not accused of following you around. LOL !
Perfect time to buy on the dip here. This is a leveraged play on the Gold price, pure and simple. You either believe Gold is going up or you dont. If you do, like me, then UGY is a great way to play it.
UGY should do EPS of around 20p so we are currently on a PE of 1.5. In my experience UGY should be on a forward PE of around 5 putting the share price at £1. This would more than discount its short mine life.|
|robson1974: METALS & MINING
Uruguay Mineral Exploration (UGY LN) CORPORATE
TP: N/R, SP: 37p, Mkt Cap: £18m
Company provides trading update in response to a 40% increase in share price in 2 days
Confirms it is in early stage discussions with several parties with regard to acquire late stage development assets.
The UGY share price has increased by some 40% in the last 2 trading days on large volumes and as a result the company has issued a trading statement. The primary component of this statement was the comment that the company was pursuing a strategy to acquire late stage development assets in South America and was as a result in early stage discussions with a number of parties.
In addition however, the company remains a debt free, unhedged, high cost producer and therefore would benefit significantly from recent strength in the gold price.|
|kooba: SYMBOLS: UME (TSXV), UGY (AIM)
Uruguay Mineral Exploration, Inc. ("UME" or "the Company"), a South American focused gold production and exploration company, announces that the Board of the Company notes the recent movement in its share price.
UME has no hedging and no borrowings. Accordingly, it benefits in full from the recent increase in gold prices. Furthermore, the drilling results released on 8 July, 4 August and 9 September 2009 for Arenal Deeps have delivered significantly better grades than those used in UME's previously published pre-feasibility study
In addition, and in keeping with its stated strategy, UME continues to investigate opportunities to acquire gold development assets in Latin America and is in early stage discussions with a number of parties.
The Board is not aware of any other reason for the recent increase in its share price.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.|
All I'm saying is share price trend has been a reliable indicator of newsflow.
There has been the odd blip but not sustained and just wishful buying in a thin market from oversold position.
Too early to tell this time round but if buying continues into next week I will begin to hope that news leaking.
One lesson I've learnt to my cost has been not to ignore share price movement for a producing mining company. There are just too many people in the loop to keep bad news under wrap.
Look at Serabi, Allied Gold, Mercador. Share price screamed bad news before it arrived.
Ditto UGY. All production problems heralded by falling share price.
With Rincon being drilled close to existing mine, and being of vital importance to all employed at mine, I would expect news to leak. And do they have on site labs for the assays? I believe they have their own facilities.
With hundreds working on site and all desperate for news, someone will give knowing wink/smile.
Obviously a lot of today's buying is punters buying on the price rise hoping someone else knows something.
Hence we need follow through buying.|
|cerrito: Catching up with reading yesterday Feb 20 FT there was an article on the performance of gold mining shares.
Basically as it was difficult to get physical gold, gold miners traded at a premium as this was the best way to gain exposure to the gold price. Now of course ETF's perform that function.
FT also points out increased costs of gold mining and cited a Citibank study which estimates that costs have gone up from $175 an oz to $300+.
Thus since the start of Jan 06 gold mines index has risen 12% but bullion 29.7%; also cites a RBC study which says that big gold miners have seen their collective PE fall to 21.8x rather than the historic 30/40x.
Interesting and explains some but not all of the reasons for the fact that the UGY share price is in the doldrums.|
Uruguay Mineral (SEE LSE:OMI) share price data is direct from the London Stock Exchange