Based on previous news releases, we know ECU's tonnage for each month to be as follows:

May = 12,641 tonnes

June = 8,569 tonnes

July = 14,207 tonnes

We also know that the following amounts of precious metals were contained in their dore bars:

May: Au = 614 oz, Ag = 23,354 oz

June: Au = 542 oz, Ag = 14,406 oz

If we estimate July's production based on July tonnage and June grades, then the metal contained in July's dore bars is:

July: Au = 899 oz, Ag = 23,884 oz

(The eventual monthly production we hope for once ECU starts mixing in the roasted pyrite concentrate, running average grade ores and using the secondary leach circut is):

Au = 1692 oz, Ag = 64,198 oz

Using the monthly average London PM fix prices as follows:

May: Au = $928.64, Ag = $14.029

June: Au = $945.67, Ag = $14.654

July: Au = $934.23, Ag = $13.362

And using a 3% refinery fee, we obtain the following PM sales estimates:

May = $870,883

June = $701,948

July = $1,124,240

So we have a July production revenue bar of $1.124 million dollars. This is the minimum we should expect since the mill was shut down for nearly 1/2 of June in order to prepare the mill to process higher grade ores.