Math revisitedExtrapolating the Q2 numbers over 4 quarters:
MAG's gross profit from Juanicipio = $149 million USD or $199 million CAD
After taxes, interest payments and mine exploration costs MAGs net profit from Juanicipio = $90 million USD or $120 million CAD.
Other MAG expenses have reduced company profits to $77,560,000 USD or $0.76 USD/share.
The true cost of Juanicipio mining in Q2 was 65.8% of gross income.
My initial calculation assumed a 40% true cost. I was way off!