sorry in a scenario of 3000 tonnes copper and 70,000 ounces gold, I shouldve added 21.1 mill profit from gold to the profit and not the revenue only!!!
the revenue for 3000 tonnes is :
3000 * 2200 (convert tonnes to pounds) * (3.50USD price - $2.00 USD cost) = 9.9mill USD per qtr
= 39.6millUSD per year
= 43.56mill AUD (using AUD:USD 0.90 exchange rate)
So add profit from gold of 21.1mill to this:
we get overall profit of approx 65mill
65mill/1000 mill shares + options
= 6.5cents
thats based on 3000 tonnes copper and 70,000 ounces
4000 tonnes copper + 70,000 ounces :
4000 * 2200 * 1.65AUD (net revenue after costs for copper)
= 58mill profit based on 4000 tonnes
add now 21.1 mill for 70,000 ounces gold
= 79mill
79/1000mill = 7.9 cents per share
if we use 100,000 ounces and 4000 tonnes
we get 58mill plus 100,000 ounces * say 350USD net revenue = an extra 35mill profit
So 58mill for copper + 35mill for gold = 93mill
93mill/1000mill
= 9.3cents per share
PE 5 gives 47cents valuation
PE 7 gives 65 cents valuation
PE 10 gives 93 cents valuation
Note ive assumed a 900USD gold price minus an overall cost of 550USD to be conservative
But for now tghe market should only value the coy based on its copper given that its a bear market, so based on 3000 tonnes copper
that is,
4.4 cents per share
PE 5 gives 22cents
when proddy goes up to 4000 tonnes later in the year we'll get 5.8 cents per share which is 29 cents valaution given PE of 5.
But Im using costs of $2USD per pound of copper and management are saying that over time costs will reduce to $1.30US!
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