America West Resources Second quarter results (AWSR)
Ian Gilson, CFA America West Resources ( AWSR ) Second quarter results: Although the company reported record revenue based on an all time high production rate, revenue was below our estimate due to some mine safety issues. The mine has been worked on and off for many years and removing some of the pillars and expanding the mine required some remediation work on the bolts holding up the roof. The new bolts were three times as expensive as the standard ones, much work was needed to ensure safety and the mine was re-inspected (the inspectors took some time in approving the work). […]