Ann: Half Year Accounts, page-3

39.9 Mlbs of copper for an adjusted half year NPAT of $13.5M CAD which is $10.35M US.

That's a net margin of 26c per pound US, including gold and silver credits.

From an average realised copper price of $3.15 that puts total cost of production at $2.89/lb, including overheads, interest, D&A and tax, but excluding forex effects.

Just to update the previous conversation from a couple of months ago about why total cash cost of $1.83 is not the true cost of production. These numbers are very similar to the last FY costs released 6 months ago, where total cost was $2.73.

Basically all adds up to CMMC really needing a long term copper price significantly above $3 to generate much in the way of earnings.