Average gold price for Q1/2024 = $2074 US/ounceJanuary average gold price = 2034$....February average gold price = 2025$....March /2024 average gold price = 2164$......
The average gold price for Q2/2024 so far is 2289$/ounce.
Krr produced about 36,000 ounces in about 10 weeks in Q1 which means they were producing about 3600 ounces per week. So at that pace they should produce about 44,000 ounces in Q2 barring any unforeseen production problems.
Maybe they stockpiled about 7200 ounces worth of ore that they could not process in Q1, if that's the case that 7200 ounces will be processed and then sold at probably 2300$/ ounce in Q2 which should render much bigger profits..
So if Q2 gold averages at least 2275$/ounce and if they sell about 44,000 ounces, then krr's profit should be big...
Remember they sold about 40,000 ounces in Q1 at about 2074$/ ounce but could conceivably sell 44,000 in Q2 at at least 2275$/ounce or more.. 44000 x 200$ per ounce is 8.8 million US dollars more than Q1...
Q2 profits for KRR should be impressive if gold price stays above 2300$