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Pan American Silver ( (PAAS) 1q15

Mine Operating Earnings doesn't take into account essentials such as G&A, exploration, project development and Forex. For example, you stick all that on top of the 1q15 MOE of $2.63m and it suddenly turns into a $11.4m loss on operations. The net loss was $19.785m.

Also liquidity dopped by $39m, with cash now under $110m. And because of that...they're going to spend $112.4m on the Dolores upgrade. 

This can't go on, PAAS. NR here