MNEAF - Minera Andes, Inc. - OTCBB

[jotuk6771]

I decided to give this slow mover a shot and bought in at .56 this morning...

I just sold this at .62... Took several fills... No momo... Like watching sap drip out of a tree...

Slow mover but around 100% potential profit in 8 months .... 

Still better that the Bank Interest ... 

[Vegas]

I decided to give this slow mover a shot and bought in at .56 this morning...

I just sold this at .62... Took several fills... No momo... Like watching sap drip out of a tree...

Slow mover but around 100% potential profit in 8 months .... 

Still better that the Bank Interest ... 

I went for the 35% in two weeks option Jotuk... It's not a two-bagger type stock but the trade off is that it don't run 100% in one day and then drop 110% the next day... Lower return but a pretty safe trade...

[Vegas]

This is having a nice little pop after breaking par sar a couple of days ago...

[Vegas]

This is having a nice little pop after breaking par sar a couple of days ago...

Still on the move upward...

[stretcher25]

Very nice uptrend here, slow and steady 

[Vegas]

Glad to see this heading back down toward a buy-in point... Will try to catch the bottom on the next run... 

[Vegas]

Bought into this again Friday am on a limit order as I am not home to trade on Fridays... Hopefully I can get another quick profit...

[Vegas]

Minera Andes Reports Net Income of $1.3 Million for First Quarter 2010

TORONTO, ONTARIO – May 11, 2010 - Minera Andes Inc. (the “Corporation” or “Minera Andes”) (TSX: MAI and US OTC: MNEAF) today reported a net income of $1.3 million ($0.01 per share basic and diluted) in its financial statements for the three months ended March 31, 2010 compared to a net loss of $4.4 million ($0.02 per share basic and diluted) for the three months ended March 31, 2009.

All amounts in this news release are in US dollars unless otherwise noted. Our financial statements and management’s discussion and analysis are available under the Corporation’s profile at www.sedar.com and www.sec.gov.

This increase was primarily due to an increase in the income recorded in our investment in Minera Santa Cruz S.A. ("MSC") and a reduction in total expenses in 2010. Minera Andes' share of the net income derived from MSC for the three months ended March 31, 2010 (before amortization), was $2.2 million compared to income of $0.0 million in the same period in 2009. MSC is owned 49% by Minera Andes and 51% by Hochschild Mining plc ("Hochschild"). MSC owns the San José silver-gold mine in southern Argentina (the “Mine” or the “San José Mine”) and Hochschild is the operator of the Mine.

Also, in comparing the first quarter of this year with the same period in 2009 Minera Andes reduced total expenses by $3.6 million, which was a result of decreases in professional fees and interest expense while also benefitting from a positive change in foreign currency exchange.

http://www.kitco.com/pr/1267/article_05112010160445.pdf

[Vegas]

Broke par sar this morning... Nice little two day run so far...

[Vegas]

Looks like this might be setting up for another nice little run...