Deep Core Mining Releases Strong Earnings Report | EVE Online

Deep Core Mining Releases Strong Earnings Report

2009-11-02 - Por Svarthol

Paara -- Deep Core Mining Inc. announced their quarterly earnings this week, exceeding analyst expectations by nearly 10%.  While many of the gains have been company-wide, as infrastructure investments facilitated by CAESA funds have finally begun paying dividends, the greatest improvements have been in their Tasen and Otawasa operations.  The latter recently went through a significant reorganization after an accident at the Kaunokka III-1 facility several months ago, which many analysts believe contributed to the improvement.

According to the company's financial statements, worker productivity and actual production volume have both increased significantly since this time last year, and several new trading strategies have allowed the company to take better advantage of fluctuations in mineral prices.  The company has also canceled plans for a new bond issue, which some investors had worried would be necessary after several quarters of painful losses.

At the Kaunokka III-1 facility, workers don't seem to be surprised by the report.  "Workers here are much more productive and safety-conscious since the reorganization, and overall I think we're running a tight ship these days," said Reita Wotimi, the newly promoted chief technical officer at the mining outpost.  "It's still dangerous work, but we're spending a lot less on sick leave these days."

Due to challenging environmental conditions, the Kaunokka strip mine is still a hazardous place. Last week, two workers suffered heavy injuries in a vehicle crash at one of the sites; however, both the miners and the medical officials agree that these are unavoidable. "That's why we get paid twice as much," said one of the injured workers. "All we asked for is for our bosses not to increase the level of danger any further by their actions. We're happy the new managers keep that in mind."