Upandway, the copper concentrate's value is, per my spreadsheet calculations, about $1.63 per pound due to its mix of valuable metals along with a majority (by weight) of worthless ground up rock. The spreadsheet multiplies the copper content (estimated at 720 lbs per ton of concentrate) by the value of copper per lb (a market value figure like $2.74/lb) and does the same for the gold and silver content, which add appreciable value. The total value is divided by 2000 to get the value per lb of con. This is a gross value before deductions for smelting, transportation, RBS's cut, and so on which will yield a net At-Mine Revenue (AMR) that is appropriately less. This AMR calculation is based on a mining text that provides a few details about this "real world" cost, which in this case is about a 11% reduction. Daily mill/mining expenses figure into the profit calculation in the usual way.
Let's presume the shipment was exactly 500 short tons. That's one million pounds. The gross value will be $1.63 million. The 11% reduction brings this down and 60% of that is about $870,000. My previous value of $978,000 did not include the 11% reduction. This omission was probably just due to my rush to post since qualifying all the details in a post that may quickly be "covered up" is not always worth the effort. These are all estimates anyway.
One goal of putting out the spreadsheet when new information occurs is to keep the readers doing the right calculations. There have been several instances where people over-simplify the situation, use the wrong value figure, or ignore basic aspects of a copper flotation process.
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