Teal Valley T.TV

RE:4th Quarter Estimated Income before Taxes

[LuvtoInvest]

I am reposting in a more presentable format:

2020 Zinc Price	Spot ($/lb)
December $2,782.36/MT	1.26
November $2,669.69/MT	1.21
October $2,441.55/MT	1.11
4th Quarter Average	1.19
September 2,450.50/MT	1.11
August 2,406.83/MT	1.09
July 2,161.24/MT	0.98
3rd Quarter Average	1.06
Zinc Payable Production in 3rd Quarter (Mlbs)	74.1
Zinc Payable Sales in 3rd Quater (Mlbs)	65.3
Zinc Payable Inventory Build-up in 3rd Quarter (Mlbs)	8.8
Zinc Payable Production in 4th Quarter (Mlbs)	74.0
Expected Zinc Payable Sales in 4th Quarter (Mlbs)	82.8
3.75 Mlbs X 3 months at fixed price of 1.10	11.3
Balance Expected Zinc Payable Sales in 4th Quarter (Mlbs)	71.6
2.5 Mlbs X 2 months at fixed price of 1.12	5.0
Balance Expected Zinc Payable Sales in 4th Quarter (Mlbs)	66.6
3rd Quarter Gross Profit based on Zinc payble Sales of 65.3 Mlbs	$     3,288,000.00
Projected 4th Quarter Gross Profit if Zinc Price had remained at 1.06	$     4,169,163.86
Additional Gross Profit in 4th Quarter on Sales of 11.3 Mlbs @ 1.10	$        450,000.00
Additional Gross Profit in 4th Quarter on Sales of 5.0 Mlbs @ 1.12	$        300,000.00
Additional Gross Profit in 4th Quarter on Sales of 66.6 Mlbs @ 1.19	$     8,651,500.00
Cost of Put Options for 6.25 Mlbs of payable zinc @ $0.03 per lb	-$        187,500.00
Expected Gross Profit for 4th Quarter 2020	$  13,383,163.86
Expected General and Administrative Expenses	$     1,600,000.00
Operating Profit	$  11,783,163.86
Expected mark-to-market Gain on Sales of 3rd Quarter	$     2,509,155.55
Expected Interest	-$    2,500,000.00
Income before taxes	$  11,774,008.31