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PMS Daily Digest for Wednesday July 23


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The thmelly dog has liked this one for some time......

 

chart.asp?symb=ca:mng&ma=3&maval=100&uf=0&lf=4&lf2=32&lf3=2&type=4&size=2&sid=103447&style=320&time=6&freq=1&nosettings=1&rand=6011&mocktick=1&rand=4898.gif

 

news out today is quite favourable.......

 

 

Meridian earns $9.7-million (U.S.) in Q2 2003

150 miilion in cash on balance sheet .... El Penon continues to exceed expectations....

 

And the chart man look at the chart man... long base very solid.... measuring the relative performance can obscure ones vision... chart patterns like this are overlooked using that criterium ... Scientifically speaking

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http://www.shareholder.com/meridian-gold/n...etype=Corporate

 

 

July 22, 2003 Print this document

 

 

Meridian Gold Reports Second Quarter 2003 Results

RENO, Nevada, Jul 22, 2003 (BUSINESS WIRE) --

 

Meridian Gold:

 

(All dollar amounts in U.S. currency)

 

Meridian Gold is pleased to announce results for the quarter and six months ended June 30, 2003. The Company's balance sheet remains strong, with no debt and $149 million in cash, while El Penon continues to deliver excellent results. Highlights for the period covered in this release are as follows:

 

Second Quarter Highlights

-- El Penon gold production of 78,000 ounces at a cash cost of

$48 per ounce

-- Net income of $9.7 million, or $0.10 per share

-- Total gold production of 103,000 ounces at a cash cost of $102

per ounce

-- Operating cash flows of $15 million helped increase total cash

balances to $149 million

-- The Company remains unhedged in gold and debt free

-- Strong margins with return on sales at 27%, and operating

margin at 34%

-- Exploration at El Penon is on track to replace gold ounces

produced in 2003

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