are people confused?I think people are confused by the numbers because the company lost money over the whole year (assuming 800$/oz of gold and ignoring the silver for now). The dug up 338304 ton at a cost of say $15/ton. That implies a loss of 5580*800-338304*15=-610,000. But that was during
the ramping up stage.
But read more carefully: they produced 5580 oz in the last 3.5 month.
Using the average head grade provided, it implies they processed 100440 tonnes (at $15/ton), which means they made almost 3 million dollars! So they seem on track for at least 10 million dollar this
year, of which 30% goes to Exmin.
What am I doing wrong here? or is the market doing something wrong?
The company has about 1M dollar in cash after the warrants were exercised and will be getting about 3M dollar this year from the mine.
Yet it trades at only 21M MC?