operation income/loss if all things equal
Comparing with Q3, Q4 should make the following amount more if all things equal: (608,640*17.31)-(570,220*16.98)=853222.8 Q3's loss is 1.64m Q4's loss should be narrowed to .79m. Q3 has a larger-than-average concentrate inventory. Those becomes the income of Q4. If the concentrate inventory of Q4 returns back to normal, they are likely to have no loss or a small profit. If their leftover inventory were still larger-than-average, they would be able to sell those at a more favorable price of January 2020. I.e. 2020 Q1 will be quite significantly better. The only thing I don't like this company is that they issue way too many shares to themselves, too many share dilution. However, the conversion of restricted shares to common shares were significantly less than Q3. So better financial result for Q4.