Ann: Lady Annie Exploration and Glencore Collaboration Update, page-16

this is where they can manipulate the AISC.

They sold 2,818t for the quarter, however, you can see they dropped a massive amount of stacked ore tonnes. Which means they didn't produce close to as much copper as they sold. Meaning the AISC of $2.79lb's is based on 2,818 tonnes of copper, they look to have only really produced ~2,500t.


this would increase the AISC to well over USD$3 for copper produced. Beware of the wording in their quarterly reports.

On that note, the value here does seem to the upside but I dislike their reporting style & how they portray their debt position so I need to wait until financial reporting time to see their balance sheet.