Cost per pound vs profitWhenever I see PM talking about how great is Largo's Maracas operation I feel great. Whenhe talks about our low production cost per pound I just want to go out and buty more shares
"The company reported annual vanadium pentoxide (V2O5) equivalent sales of 11,393 tonnes at a cash operating cost excluding royalties per pound (1) of $3.37"
But then I see the actual profits and I wonder whyif the cost is so low is not this company reporting huge profits, after all even at 8.3 we make almost 5$/lb
if we sold 11,393 tonnes x 2204 = 25,117,266 lbs x 5$ = 125millions
But the actualcost per lb is much higher and it seems the higher the V price the higher the cost.
What did I miss?