Zinc and Pb-Ag Revenue and C1-AISCThe Trevali Income Statement reports total revenue by combing the ZInc and Lead-SIlver revenues NET of smelting and refining charges (FS Page 12 June 2021).
ZInc revenue is $151.951M and Lead-SIlver revenue is $21.110M
June 2021 YTD. Trevali calculates AISC by applying the $21.110M Lead-Silver revenues (net of its smelting and refining) as a reduction / credit ot total production costs.
The following table compares the June 2021 YTD costs per pound to the Full Year 2020 costs per pound (MDA Page 23). I have
bolded the key changes. Without the benefit of the reduced smelting charges, Trevali's operating costs are significantly higher than the T90 guideline (even the improving lead and silver prices and production increases have helped reduced the AISC) - this is a cause of concern.
| C1 / AISC | YTD Q2 2021 | Change | Full Year 2020 | |
| Mining | 97,323 | 0.60 | 0.11 | 153,407 | | 0.49 | |
| Smelting | 50,749 | 0.31 | (0 10) | 129,360 | | 0.41 | |
| Distribution | 7,866 | 0.05 | (0.01) | 18,482 | | 0.06 | |
| Royalties | 4,933 | 0.03 | 0.01 | 5,835 | | 0.02 | |
| Lead-Silver Credits | (21,111) | (0.13) | (0.05) | (26,027) | | (0.08) | |
| C1 | 139,760 | 0.86 | (0.04) | 281,057 | | 0.90 | |
| Sustaining CAPEX | 15,861 | 0.10 | (0.01) | 32,887 | | 0.11 | |
| Lease Payments | 3,193 | 0.02 | 0.01 | 4,257 | | 0.01 | |
| AISC | 158,814 | 0.98 | (0.04) | 318,201 | | 1.02 | |
| Zinc Payable Produced M Pounds | 162.2 | | | 313.0 | | | |
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