RE:RE:$1400 AISC?maurizon,
Is $1400 AISC per ounce of gold a problem when top line revenue per ounce of gold sold is $1635 USD per ounce? The revenue model of Orvana is highly non linear because copper provides about 1/3 of the revenue, and since Orvana Minerals produces copper concentrates in addition to gold dore, the sales costs come out ahead of revenue, and then are added back in in the accounting calculation.
So what I look at is the operating margin less depreciation which for El Valle was negative $388 USD per ounce and at Don Mario was $116 USD per ounce of gold sold. For calendar Q4, I expect both EVBC and Don Mario to be cash flow positive with depreciation included.
So I would hold on to those ORV shares if you still have them. IMHO, this stock will be priced at above Teranga Gold within 6 months.