CRS 10.0% 1.8¢ caprice resources ltd

CRS: who sold themselves short?, page-13

  1. 1,816 Posts.
    "Nickoo,
    What are you trying to say about this share Nikko, is it supposed to be a good share and cheap as well , is that what you are trying to say?"

    >YES, i'm saying it's cheap.



    "What do you mean with 'a minimal capital cost' , how can this be if you do not take a charge for depreciation?
    If one keeps the same plant and machinery then there will be reduced efficiency and higher maintainence costs."

    >Depreciation is an accounting cost, it's not a cash cost.
    I'm concerned with free cash flows.

    The existing mines are operating effeciently, and they're progressively reducing their cash cost without big capital expennditures.




    "I suggest you get your calculator out and carry out a re concilliation between the figures you say and the figures released by the company for the half Year ended 31/12/01 and showed a small profit after tax as far as I can see.I cannot get anywhere near your fiigures Nickoo."

    >You obviously have ZERO understanding about Croesus.
    They merged their existing mines with Central Norseman in mid Jan 2002. The Norseman mines are forecast to increase Croesus' total production by five times this year.

    Have a look at the first quarter activities report which shows them producing 70,000 ounces in the March quarter.



    "For example I am concerned that they only made AU$33.53 an ounce in that period after tax and it took a big lick of gold to do that, 56665 ounces were produced to achieve that. If that continues then on the 300,000 oz you mention they would only make Au$10.1 million a year post tax , that is a high PE Ratio for a gold share don't you think ?"

    > You're basing your analysis on the old Croesus before they merged with Central Norseman at the beginning of this year... and the figures you quote about the profitability per ounce are accounting figures, which are very distinct from cash flows.

    Perhaps you should read up on the differences between accrual accounting, and cash accounting?




    "Where is the reason to buy this share at these prices Nickoo?"

    > They're grossly undervalued!!!




    "I shall want to see some forcasts from the company before I get excited about CRS .
    The good thing about a market is it is made up of different opinions and that is good for free and open discussion."

    > Fine. If you're too lazy to research and understand what CRS is about TODAY, you can keep waiting for more confirmation tommorow... and in the meantime miss out on significant gains in the CRS share price.

    Ignorance is bliss!!!
 
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