Thanks for replying to arsenic's interpretation. What he has...

Thanks for replying to arsenic's interpretation. What he has mentioned is correct pretty much for the 3rd march 2015 qtr if read in isolation. For some reason SRQ seem to bring forward concentrate inventory movement cost for 3rd qtr ($0.60 per lb). It is however substantially lower for all other quarters, and in fact become a rebate in the 2nd dec qtr for almost every year. When I derived $40m pa profits, i assumed C1, depreciation, amortisation cost to remain constant and equal to march 2015 qtr, cu price of A$3.50, and average concentrate inventory movement cost from the last 4 qtrs. As usual DYOR and IMO.