DeBeers total production in CanadaFor 2016 is 1,031 K carats. Of course this is their 596K from Victor, and their 432K 51% share of production from the GK mine. They also won about $3,622M dollars Can worth of stones from us in the fancies and specials. MPVD did capitalize this amount to the mine as it was in pre-production.
Anglo does use IFRS accounting like MPVD, so there was no revenue recorded in 2016 from the production or sale of any stones by Anglo for GK production as those amounts were capitalized just like MPVD, into the second Q of 2017.
Thus the Sales price per carat gives you a pretty clear picture of Victor in 2016. They report EBITDA of $79MUS for 2016, which again IMO ismostly or all Victor.
They report EBITDA for all of Canada in 2017 of $205M US. Taking out Victor, assuming the same run rate of $80M US EBITDA in 2017 for Victor, would leave $125MUS EBITDA for their 51% share of GK production.
Assuming they used IFRS accounting and stopped capitalizing GK sales at the same time MPVD did, which appears to be the case from the Anglo reporting, MPVD reported $70US per carat for an averge 2017 full year realization, and full year 2017 EBITDA of
$56.6 M Canadian.
Why do I think there is something wrong with this picture being presented to MPVD stockholders?