RE:Austral Gold Heap Reprocessing Project to Deliver ProductionIn their quarterly report (June 2023) they stated:
Forecasted Calendar 2023 Production and Costs
• Production guidance for 2023 is estimated between 34,000-38,000 GEOs including 7,000-9,000 GEOs from the heap-reprocessing project, which started production in late July 2023.
• C1 for 2023 is estimated between US$1,200-US$1,250 per GEO. The average C1 for the second half of the year is expected to be lower at US$1,100-US$1,200 due to lower costs forecasted for reprocessing material at the heaps.
• AISC for 2023 is estimated between US$1,400-US$1,450 per GEO. The average ASIC for the second half of the year is expected to be lower at US$1,250-US$1,350 due to low sustaining capex forecasted for the heap operations.
So just assuming their mining operation barely braks even with regard to AISC, 7000 GEOs from heap-reprocessing should bring in $500-$1000 per GEO. Would result in 3.5-7 million USD for 2023 if things go according to plan (tax etc. needs to be considered on top, sure).
Any idea why the share price drops to almost the level of this years expected profit from the heap-reprocessing? What am I missing here?