RE:Disappointed cmmc has produced arround 3,8 millions pounds of copper more than sold . (25 515 M pounds - 21 696)
approx worth for copper : 3 819 000 x 4,33 usd (av. price of copper during the trimester) x 1,25 (approx convertion rate usd vs can $) = 20,6 Million Cad $ for unsold copper in sales
gold produ 7627 oz q2
vs sales of 6545 oz q2
1082 oz of gold unsold , x 1800 usd per oz (approx) x 1,25 = 2,4 millions cad $ for approx unsold gold
silver prod of 147 973 oz
vs sales of 121 291 oz
26 682 unsold oz of silver x 25$ usd per oz (approx) x 1,25 approx rate = 800 k cad$ for approx unsold silver
So , the impact of the good production has not been feeled yet in the financial . IF they would have sold it during the q2 , it would be arround 23,8 millions more in revenues .
the gross margin was arround 60% (85,7M gross margin q2 / 142 M rev q2)
60%x 23,8 M =14,3 M cad$ more gross margin (pre tax) if they would have sold it completely (the equivalent of prod of q2)
On 207 M shares , we would have seen couple a cents more on those earnings if everything produced would have been sold . (Consider tax expenses)
we will see the impact hopefully on the next quarter with higher copper prices .
IT was not sold , so , the cost only is in the inventories .
but the gravy (gross margin) is not there yet like it would be in a receivable .
(Watch also the productions vs sales since q4 2020 , I think they have more )
IMHO