The numbers I showed on 9/16/10 were future production estimates. The revenues for Q3 are a different matter. From the Q2 results we have the following:

Metal revenues: $4,425,413

Loss: $3,400,930

Loss from Foreign Exchange: $904,491

Mineral Concession Payment: $1,260,096

Since the Canadian dollar strengthened in Q3, we should not have a loss from it this quarter. I think we only have 2 payments left on the mineral concession, and that the next payment is not until Q4 2010, so we will not have a loss from it this quarter.

Q2 loss NIC Foreign Exchange and Concession: $1,236,343

Total Q2 costs NIC Foreign Excange and Concession: $5,661,756

Based on last quarters revenues and this quarters higher gold and silver prices, revnues should be about $5 million from the dore, and lead and zinc concentrates. ECU announced that it had begun receiving payments from its gold pyrite in a news release on 9/14/10. This news release said that ECU would be shipping 1500 to 2000 tonnes per month of the concentrate. Assuming we receive payment for one months worth of 2,000 tonnes and guessing at the average metal prices, the silver content, and the smelter charge, I come up with $1,160,078 of additional revenue in Q3. Note we should get 2.5 to 3 times this amount from the gold pyrite in Q4.

Estimated revenues in Q3: $6,160,078

Profit in Q3: $6,160,078 - $5,661,756 = $498,332