NSQ,

Thinking this over & over, I believe that the "cost to produce a pound of copper" and C1 cash cost are two different concepts that come to a similar end result.  It's just a different way of promoting a number.

Example:

• 250Mlbs of Copper @ $3.50 US
• 125M oz of gold @ $1400 US

If your C1 cost is 300M to produce 300Mlbs of CuEq, you will have a C1 cost of 1$/lbs CuEq.

However, your cost to produce one pound of copper (net of by-products) will be 300M - (125000 x 1400$) = 125M/250Mlbs copper = $0.50 per lbs.

If after you want to calculate your profit, in one example you will multiply 300 lbs CuEq x (3.50-1) = 750M

In the other case, 250Mlbs of Cu x (3.50 - 0.50) = 750M

Schaft Creek 2013 had a C1 cost around 1$.  I believe the 2021 C1 cost will really be around $0.60 to $0.70, but agree that the cost to produce one pound of copper should be much closer to zero... 

Hope this makes any sense...

IMO.

MoneyK