last chance?, page-2

Hi Miningnut,

Are you being a little conservative with their profit? If they get their inventory levels down to that similar in June (ie 800 tonnes) then that would imply delivery of roughly 9 tonnes of copper for this quarter (ie 2,343 in inventory at the start of quarter + 7446 tonnes produced - 800 at the end of quarter) or approx 19.8m pounds of copper.

Copper averaged US$1.95 a pound during the quarter leading to gross rev of around $38.6m (I realise there may be timing issues regarding when the bulk of the copper was delivered)

Even if you get fairly conservative with the amortisation, operating expenses etc I still get a figure somewhat north of US$12m.

Oh well I guess time will tell (probably tonight). Also I wouldn't mind a copy of that Haywoods report sent to me at [email protected] - Would be nice to compare their figures with mine

Cheers

J.