The calculation for the quarterly result uses the average spot prices (in AUD) from Oct 1 to Dec 31, which was:
Zinc A$3,666/t
Copper A$8,601/t
Lead A$2,739/t
Silver A$20.33/oz
Gold A$1,716/oz
My chart uses the daily spot prices and exchange rate and calculates the annualised revenue for each day based on the 2015 restart study. The study estimated 325ktpa throughput (1.7Mt / 5.25yrs), which Thalanga is currently operating at, so it's a fair comparison. As of Friday's close those prices were:
Zinc A$3,781/t (+3.1%)
Copper A$8,566/t (-0.4%)
Lead A$2,968/t (+8.4%)
Silver A$22.21/oz (+9.2%)
Gold A$1,836/oz (+7.0%)
You raise a good point though - the quarterly result assumes 85% payability whereas the annualised revenue estimate allows 100%. It doesn't change the shape of the chart though, which the point of was to show that for a long time the ebbs and flows of the share price were in line with the underlying fundamentals of the company, but recently it's become more and more detached.
Edit: At market close the annualised revenue was actually A$138.5m, which is the highest it's been since the SP was 25c.
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