future copper demand, page-13

The $1/lb was with precious metal credits. Does that its cost is $1/lb if you deduct the profit made from gold and silver?

I think TC was calculating his own costs purely from the last quarter results, which included the costs of extracting the precious metals.

The last quarter can't provide an accurate indication of operating costs considering they were ramping up production. They only produced a little more than half of their expected capacity.