RE:Report a Profitmacdj,
Orvana should be out with fiscal Q4 2016 results in this coming week, so I decided to use Avino's realized metal prices for calendar Q3 2016, and see what Orvana's quarterly results look like. I used $1328 USD for my gold price, $19.50 USD for silver, and $2.17 USD per pound of copper.
My calculation for each mine is based on the assumption that they only sold the metal that they produced in the quarter. Since Orvana Minerals had a little over $6 million in copper concentrate in inventory at the end of Q3, they likely sold more metal than they produced in the quarter.
The other key assumption is that Samsung paid Orvana 83 percent of the value of the metals in their copper concentrate, and that number comes from Avino's Samsung pay factor tor their concentrates from the Avino mine.
So here is my estimate for the quarter $0.023 USD per share in profit with the profit coming from Don Mario, and EVBC operating at break even for the quarter.
Gold costs are based on the by product method for both mines with depreciation backed out.
Total cost estimate for EVBC includes $2.5 million in depreciation, $800,000 in capital expense, $870,000 in sustaining development, $48,000 in exploration, $800,000 in corporate Q&A, and $205,000 in reclamation expense. Total throughput was estimated at 1389 tons per day with 6 percent coming from oxide, 70 percent from Boinas skarns, and 14 percent from Carles skarns. No currency adjustments were included for EVBC.
So we will see soon enough if this is a turn around play or another quarterly miss.