Last quarter we were 60:40 of precious to base income, so this quarter if we exclude Daques we could get close to 50:50 given the sharp rises in both copper and zinc prices. Copper production was low at 3,000 tons for Q2, Zn 6,000 tons. 3K tonnes x $11,000 still comes to $33 million, and Zn @$3700 comes to $22 million. Throw in lead as well and a full year at these prices is going to send the share price up. In my book we are romping ahead because from memory copper was budgeted at $8550, and zinc at $3200. Importantly Federation and Peak Deeps have good grades of copper, zinc and lead, and oodles of gold.
These copper prices make Great Cobar look good.
What I want to see is 1. A report on the progress of Daques...half way through the quarter we should have a decent amount of gold 2. A date for the onset of mining at Peak Deeps...no more delays! 3. Exploration results 4. Timeline to mining Federation.
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