RE:RE:My back-of-the-envelope estimation Wally,
Q2 sales = 3,027T = 9% higher than Q1 sales (2,783T)
Q2 average V2O5 price = US$8.19 = 16% higher than Q1’s US$7.09 (Q1 revenue per lb of V2O5 equivalent which included high purity was only US$6.49 or 9% lower than Q1 average V2O5 price. So I expect the Q2 revenue per lb to be also lower than the Q2 average V2O5 price).
Q2 Net income as per my conservative estimation = US$7.6M - 8.5M (average = US$8M) = nearly 2X the Q1 Net income of US$4.4M.
We will also have revenue from the iron ore sales with a huge margin. Hopefully another US$1.5M - 2M to be added to the Net Income. Who knows?
Conclusion: Very good results for Q2.