Dec. 4 at 2:00 PM
$CDE To date, according to my calculations, the average prices of gold and silver have been
$4,089 and
$50, respectively, which leaves plenty of room for growth compared to Q3 (
$3,457 excluding Franco Nevada for gold and
$38.93 for silver). If we apply the differences of
$635 and
$11.07 to the estimated production volumes for Q4, we get a gross profit increase of
$120 million, or
$0.186 per share, compared to Q3 earnings of
$0.23. This is significant, representing 82%, but it is overestimated because we must take into account royalties, which will increase CAS, and taxes, which are difficult to assess given the potential for recoverable credits.
