Gestern gab's nachbörslich die Jahreszahlen 2006
Energold Drilling earns $3.69-million in 2006
2007-04-19 17:08 ET - News Release
Mr. Frederick Davidson reports
ENERGOLD ANNOUNCES RECORD YEAR-END RESULTS
Energold Drilling Corp. has released its 2006 consolidated results. Earnings for the year were $3,697,000 (2005 -- $1,087,000), which includes a dilution gain on the investment in Impact Silver Corp. Gross revenues were $25.5-million on 190,000 metres of drilling, up 71 per cent from gross revenues of $14.9-million in 2005 on 118,000 m of drilling. Earnings per share were 17 cents, up from five cents in the prior year. A dilution gain of $1,177,000, net of future income taxes, on the investment in Impact was recorded for the year (2005 -- $184,000). This dilution gain arises when a subsidiary issues its own shares to third party interests, which results in a difference between the company's share of the proceeds and its carrying value of the subsidiary.
The company ended the year with a very strong balance sheet, with a net consolidated working capital position of about $18.6-million, an increase of just over $5.0-million from its net consolidated working capital position of $13.5-million at Dec. 31, 2005. Consolidated group cash and cash equivalents at the end of the year were about $10.8-million. A significant portion of the company's increased working capital position reflects its increased investment to $8.2-million in drilling inventories. The company's balance sheet strength also does not reflect the current market value of its equity investment in Impact. Based on closing market prices at April 18, 2007, the investment has a current market value of $13-million or $10-million more than its carrying cost. Energold had 22.2 million shares outstanding as of Dec. 31, 2006.
YEAR-END RESULTS COMPARISON
(thousands of dollars, except per share amounts and metres drilled)
Dec. 31
2006 2005
Income before taxes $5,459 $1,296
Net income 3,697 1,087
Earnings per share
Basic 0.17 0.05
Diluted 0.16 0.05
Cash and term deposits 10,800 5,400
Consolidated working capital 18,600 13,500
Metres drilled 190,000 118,000
The company fully consolidates its 50.01-per-cent-owned Pac Rim Drilling SAC, 50-per-cent-owned subsidiary, Kluane International Drilling Inc., and its affiliates. The company's 16.7-per-cent interest in Impact Silver is accounted for on an equity basis. As at Dec. 31, 2006, the company shared a 50-per-cent ownership with partners in 17 drill rigs.
The increase in the overall level of activity reflected the existing demand within the industry and the growth of the company's particular niche within that industry. With the exception of Central America, every region experienced significant growth. The efforts of prior years provided the establishment of the infrastructure necessary to handle this increase and the company is anticipating further growth in 2007. The company anticipates the addition of approximately six to seven new rigs during the period and plans to more deeply penetrate certain existing markets while expanding into at least one new market.
A webcast discussing the annual results is being been scheduled. Further details will follow.
We seek Safe Harbor.
Wenn man das jetzt grob umlegt wären wir derzeit bei einem ungefähren KGV von 15. Das ist meiner Meinung nach für den Moment ganz ordentlich. Oder seht ihr das anders? Die Frage ist, in wieweit sich die Drillprogramme noch ausweiten lassen, da wahrscheinlich ja 2006 schon rund um die Uhr gebohrt wurde. Andererseits wurden/werden ja weitere Bohrgeräte angeschafft, wenn ich mich richtig erinnere, dh. es wird wohl 2007 mehr gebohrt werden als 2006, folglich dürften die Einnahmen weitersteigen.
Auch interessant wird sein, was Impact Silver heuer noch so zu berichten haben wird. Wobei bei Impact denke ich mir immer, dass die in einer Konsolidierungsphase relativ leicht übernommen werden könnten.
Bin schon gespannt wie's weitergeht. Mit dem mittlerweile vorhandenen Polster kann ich mir die weitere Entwicklung bei beiden Companies ganz entspannt anschauen, wobei ich am überlegen bin, ob ich mich nicht von Impact Anfang Mai verabschiede um im Falle einer ausgeprägteren Korrektur im Mai/Juni meine Energold Position weiter ausbauen zu können.
Gruß
DAU2006