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Update: Nyrstar's 2014 Results Are Better Than Expected

Nyrstar (NYRSY) has released its financial results for 2014 and I was kinda looking forward to see if the company had made any progress on the operational and financial front in the past few months. The company's revenue decreased slightly by just one percent, but as Nyrstar was able to keep its operating costs under control, the EBITDA increased by 51% to 280M EUR ($325M). This sharp increase was also caused by a one-time income from unwinding the silver stream agreement with Silver Wheaton (SLW) which I talked about in an earlier update.

The net loss increased due to higher finance expenses (keep in mind Nyrstar has repurchased a fair amount of its outstanding bonds and has issued new bonds with the maturity date further out, and these capital operations obviously aren't free). I'm positively surprised by Nyrstar's cash flow statements as its operating cash flow of 311M EUR… Read More …