understanding the Q1 numbersVery excited to see the positive earnings report today, I am trying to understand the profitability of the two existing mines and have a hard time reconciling the figures of the MD&A versus the Interim Financial Statements:
Revenue for Los Santos:
As per MD&A p.7 total sales revenue was USD 3.7 mill.
As per Interim Financial statement p. 36 revenue was CAD 6.108 mill.
Revenue for Panasquiera:
As per MD&A p. 10 total sales revenue was USD 6.24 mill.
As per Interim Financial statement p. 36 the revenue was CAD 11.194 mill.
In both cases the difference is too big to be explained only by USD/CAD rate of exchange.
Similar with the costs:
Los Santos:
As per MD&A p. 7 Los Santos sold 21,894 MTU and had an all-in cash operating cost of USD 232 per MTU, this would result in total costs of USD 5.079 mill (higher than revenue).
But as per IFS page 36 the mining costs were only CAD 3.627 mill.
Panasquiera:
As per MD&A page 10 Panasquiera sold 23,141 MTU and had an all-in cash operating cost of USD 188 per MTU, this would mean total cost of USD 4.350 mill for the sold product.
But as per Interim Financial Statement page 36 the figure is CAD 6.071 mill.
Maybe I am reading these figures wrong ? Many thanks for any comments.