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CUU own 25% Schaft Creek: proven/probable min. reserves/940.8m tonnes = 0.27% copper, 0.19 g/t gold, 0.018% moly and 1.72 g/t silver containing: 5.6b lbs copper, 5.8m ounces gold, 363.5m lbs moly and 51.7m ounces silver; (Recoverable CuEq 0.46%)

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Message: Re: Negative Cu production cost
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Icon president Negative Cu production cost
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Chappy726
Jul 15, 2012 04:33PM
Icon president Re: Negative Cu production cost
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Chappy726
Jul 15, 2012 05:12PM
Re: Negative Cu production cost
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chops
Jul 15, 2012 05:37PM
Re: Negative Cu production cost
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Abullion
Jul 15, 2012 06:43PM

Thanks Chops and Dsikorsk... I was thinking that the calc was a bit simpler...

Cu production cost (life of mine) = (Total Mining Costs of All Metals) minus (Non-Cu Metal Sales Credits) all divided by total pounds Cu produced

A) Total Mining Costs All Metals: $10,572,514,460

B) Non-Cu Metal Sales Credits: $13,399,613,465

C) Lbs Cu produced: 6,146,884,279 lbs

(A-B)/C = negative $0.4599 per lb Cu produced

Assumptions:

Cu Recovery rate0.89

Mo Recovery Rate0.64

Au Recovery Rate0.73

Ag Recovery Rate0.58


"Total Ore based costs" (US$/t) $5.12

3 yr metal Prices from July 11/2012:

Cu / lb$3.57

Mo / lb$14.00

Au / Oz.$1,379.00

Ag / Oz$26.60

"Metal Selling Costs" 2011 RE:

Cu / lb$0.53

Mo / lb$2.74

Au / Oz. $6.00

Ag / Oz$6.00

dyodd

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Chappy726
Jul 16, 2012 12:31PM
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Jul 16, 2012 12:45PM
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Jul 16, 2012 12:49PM
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darpa1
Jul 16, 2012 12:59PM
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Jul 16, 2012 01:05PM
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