Dartboard,
The full calcs of my profit estimate for the Sep qtr is as follows:(in US$mil)
Sales revenue:
7.5mil lbs Cu @ $1.23 @ 96% assay 8.86
275k ozs Ag @ $6.19 @ 90% assay(20c/lb net) 1.53
GROSS SALES 10.39
Smelting,refining & realisation costs(13c/lb) 0.98
NET SALES(NET SMELTER RETURN) 9.41
Other cash costs(60c/lb) 4.50
DRC govt Admin fee 1% of sales 0.11
Net smelter royalty @ 6.25% on NSR 0.59
Interest payable 0.18
Deprec & amort 0.50
Contingency-explor w/off,options value,FX losses 0.25
Head Office costs- General & Admin/Marketing 0.75
TOTAL COSTS 6.88
NET PROFIT before tax & minorities 2.53
Less: 10% minorities(before conting & HO costs) 0.35
NET PROFIT(with no tax to pay) 2.18
Notes:
1)Rebublic House,metal trader,purchases all copper & silver but gets a 4% commission on Cu revenue and 10% commission on Ag revenue,hence the 96% assay & 90% assay on the revenue lines.
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