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Come on Doom & Gloom Gang, where are your responses and calculations??????
Not a single valid or genuine response from the Doom Brigade apart from "They aren't" is about as good as it gets.
Thanks to your response DanielC43R.
If you are so positive without any doubt that RMM lost money from Oct-Dec 22, then show your calculations, let's see your figures, don't hide behind your keyboard.
I have adjusted my previous calculation but the end result remains th same.
Saleable Copper produced - 1588 Tons
1588T x $8,330/t (hedged price) = $13,228,400
Gold sale - 401 ozs × $1,750 = $701,750
Total Copper & Gold Sales - $13,930,150
Let's say 14 million for arguments sake.
If RMM are supposedly not making any money, then show me calculations how they are spending the $13,930,150?
If they are employing 186 staff (miners / engineers / operators) lets for arguments sake pay them all $300 / day for 3 months solid.
My very quick *** packet calculations:-
186 x 90 x $300 = $5,022,000 ( This equates to all the staff being on over $108,000 / year )
Plant Lease Hire (3 Months) - $750,000
Fuel / Parts / Electricity (3 Months) - $2,250,000
Drilling / Blasting / Haulage (3Months) - $1,500,000
Management / Consumables (3 Months) - $750,000
Miscellaneous - $500,000
Under $11,000,00 million and I think in my opinion I am being very generous, prove different to me.
From gold they only get 20% of sale price as they took $11 million from elemental for forward sale of gold .
I think this calculation is too bullish. At their 1H results on 26 Sep they stated: "We project our C1 cost at the end of 2022 to be in the range of $2.70-2.80/lb". Interestingly in the RNS on Wed we did not get a C1 guidance or reiteration of this (might not be an issue but still worth noting). Using the C1 guidance at $2.8/lb and a copper price of $4.2/lb for 2023 and assumed 7,000t production you would get to an implied $21.5m of cash generation in 2023. If we reflect administrative costs (C2) of ~$5m this goes to $16.5m. This would imply ~$1.38m of cash per month or $4.1m per quarter. This could be used for development capex and dealing with working capital issues. I think RMM is on much sounder footing, but would prefer some aggressive hedging at this level. There are also big question marks on communication of the group (again apparent in RNS this week) and how it was possible to drive the company against the wall in the way that has happened.