Thursday, August 11, 2011

Minera Andes ( 2q11 sucks

I was looking for 6.5c EPS, even with the strike stoppage at the Santa Cruz mine. We got 4c from Minera Andes (

Mind you, with the stock having been beaten down so far by McEwen's scheme to merge it with his other dog, US Gold (UXG) (and better named mexico silver), it probably won't suffer from this pisspoor quarter. Here's the link to the NR.

Disclosure: No position in (or UXG, for that matter).

UPDATE: "Why does a $10.7m net profit suck?" I am asked (by mail). Because it's a market cap of $643m that's why, and I'm one of those old fuddy-duddies that thinks PE ratios have something to offer the world. If you think it's a good performance, don't feel the need to argue the toss with me. Just wait until the market opens in 57 minutes' time and buy the stock.