I think everyone already has this figured out, but for what its worth, here what I looked at this morning.
While tonnage is indeed -- as I've explained in other posts -- generally more important than grade, this doesn't mean that grade is no object.
16 ct/100 t is not anywhere close, and this is why the company was, I think, so doubtful in terms of future work.
Ashton Mining Data
ACA DMM
Ore Mined tonnes 5,400,000 3,365,000
Recovered Grade ct/tonne 0.16 1.03
Carats Produced carats 864,000 3,465,950
Av. Value per Carat US$/ct 100 130
Av. Value per Tonne US$/ct 16 134
Cash Cost per Tonne US$/t 9.25 27.00
Cash Cost per Carat US$/ct 57.81 27
Revenue US$ 36,720,000 126,848,000
Operating Costs US$ 28,353,000 25,578,000
Depreciation US$ 17,000,000 11,941,000
Operating Earnings US$ (8,633,000) 89,329,000
Gross Margin US$ (24) 70
Marketing Costs US$ 10,700,000 6,342,000
Exploration US$ 4,330,000 2,610,000
Interest Expense US$ 11,600,000 6,855,000
Net Income Before Tax US$ (35,263,000) 73,522,000
Taxation US$ (15,163,090) 34,103,000
Net Profit After Tax US$ (20,099,910) 39,419,000
C$ (29,144,870) 57,157,550
Earnings per Share C$ (0.89) 1.74
Fully Diluted Shares MM 32.80 32.80
Cheer up everyone. Its going to take a little bit longer than we first thought. |
