A debate! I love it"I will make a prediction on our revenue based on average copper prices and nickel prices from August 1st to October 31st. 2.9 million revenue 765,000 net profit."
We did $1.6 million in revenue in Q2 and had a profit of $53,900. To show a profit of $765,000, we would have to do a little more than $2.9 million in revenue.
Yes but nickel and copper was delivered mostly from the end of June and July pricing structures, much lower than august to october prices. Plus we missed 300 ounces of precious metals total value about 300,000? Ie last quarter we actually made $350,000 so all I did as add 365,000 to cover 50% more tonnes delivered and higher prices.
"Adding to the tonnage at Shakespeare is also likely the best way to explore as opposed to chasing over western Ontario."
The problem with adding tonnage at Shakesdpeare is twofold. One, we have to get Xstrata to accept more ore and two, there is only so much tonnage the mine road can handle in a day. If we increase the size of Shakespeare to lengthen the life of mine @ 4500 tonnes then really have a great project instead of just a good one. Shakespeare is also permitted which is a huge and mostly overlooked fact. Shakespeare is also studied and feasibility study is done.
"If the price doesn't move up we can take 1 million a year and buy back shares reducing the float substantially over a two year period."
The company had a share buyback program a few years and it was an abject failure. Buying back shares is, imo, a waste of money. We are not by any means flush with cash and our money would better spent on exploration or even a quality acquisition. A few years ago the price of this stock was closer to a dollar than a dime. Share buybacks work very well as demonstrated by little companies like microsoft, apple, etc. A quality acquisition is a great idea. Do you know any? I would love to hear.
One more idea that perhaps you could respond to would be a 1000 tpd mill with concentrate. It would lengthen the life of shakespeare by 4.5 times or about 31.5 years. It would cost a lot less than a 4500 tpd plant and we could always ramp up later.
Thanks Ker Ber for the response!