Ann: Quarterly Activities Report - March Qtr 2019, page-5

Oh well... one mystery about why this stock trades so low has been explained to me... the company doesn't make it at all easy to work out if they are mining profitably. They reveal the financials only in the half yearly and annual reports. The only actual hint they are doing ok is the cash position has improved by $2.2M.

fwiw... these are my numbers...

6223 tonnes of Cu produced = 13,690,600lbs. AIS pays [I believe] a 5% smelter charge so the effective revenue generating number is 13,006,070lbs. Although I believe AIS has been getting close to $4.10 a lb for contained copper I calculate that at $4lb the cash flow = $52,024,280 for the quarter. On the AISC for the quarter of $3.50 that = $6,503,035 profit for the quarter [by my calcs].

They reported a $10.45M loss for the first half... so this quarter has accounted for ~65% of that. With the projection of increased production to 25,500 tonnes AIS is on track to report an annual profit in November 2019 of around $4.5 to $5M [by my calcs].