Mallay silver, lead and zinc production were lower in 2Q17 in order to
accommodate the pilot production of Uchucchacua´s ore.
Silver production guidance for 2017 from Mallay´s mining operation is
1.0 million – 1.3 million ounces to permit the treatment of
Uchucchacua´s ore (more value).
Julcani (100% owned by Buenaventura)
Production
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Silver
|
|
Oz
|
|
647,883
|
|
837,937
|
|
-23%
|
|
1,314,118
|
|
1,690,989
|
|
-22%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost Applicable to Sales
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Silver
|
|
US$/Oz
|
|
17.85
|
|
11.40
|
|
57%
|
|
14.79
|
|
11.05
|
|
34%
|
Silver production in 2Q17 was 23% lower than the production reported in
2Q16; primarily due to a decrease in ore treated (12% QoQ) and lower ore
grades (13% QoQ). Cost Applicable to Sales (CAS) in 2Q17 (17.85 US$/Oz)
was 57% higher than 2Q16 (11.40 US$/Oz), primarily explained by lower
productivity due to the change in the mining procedures for enhanced
safety, resulting in an increase in mining support expenses. This
temporary issue will be addressed through high grade production and
controlled volumes for the subsequent quarters.
Silver production guidance for 2017 is 2.6 million – 2.8 million ounces.
La Zanja (53.06% owned by Buenaventura)
Production
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Gold
|
|
Oz
|
|
30,647
|
|
35,384
|
|
-13%
|
|
62,902
|
|
69,577
|
|
-10%
|
Silver
|
|
Oz
|
|
61,878
|
|
49,468
|
|
25%
|
|
130,810
|
|
108,703
|
|
20%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost Applicable to Sales
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Gold
|
|
US$/Oz
|
|
802
|
|
533
|
|
25%
|
|
762
|
|
535
|
|
21%
|
Gold production in 2Q17 decreased by 13% quarter on quarter, but remains
in line with the mine production plan. Cost Applicable to Sales (CAS) in
2Q17 (802 US$/Oz) increased by 25% compared to 2Q16 (533 US$/Oz), mainly
due to i) increased reagent consumption (associated with higher volumes
of water treated due to heavy rains associated with the Coastal El
Niño), ii) a 32% sequential decrease in ounces sold and iii) lower ore
grades.
Gold production guidance for 2017 is 115k – 125k ounces.
Tantahuatay (40.10% owned by Buenaventura)
Production
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Gold
|
|
Oz
|
|
31,725
|
|
36,733
|
|
-14%
|
|
62,970
|
|
71,295
|
|
-12%
|
Silver
|
|
Oz
|
|
172,943
|
|
180,578
|
|
-4%
|
|
306,217
|
|
424,568
|
|
-28%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost Applicable to Sales
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Gold
|
|
US$/Oz
|
|
469
|
|
469
|
|
0%
|
|
466
|
|
449
|
|
4%
|
Gold production in 2Q17 decreased 14% quarter on quarter, but remains in
line with the mine production plan of a strong 2H17 with higher grades
coming from Cienaga Norte. Cost Applicable to Sales (CAS) in 2Q17 was in
line with the figure reported in 2Q16.
Gold production guidance for 2017 is 145k – 155k ounces
El Brocal
(61.32% owned by Buenaventura)
Production
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Copper
|
|
MT
|
|
10,308
|
|
11,677
|
|
-12%
|
|
21,463
|
|
23,020
|
|
-7%
|
Zinc
|
|
MT
|
|
12,166
|
|
13,725
|
|
-11%
|
|
29,069
|
|
23,641
|
|
23%
|
Silver
|
|
Oz
|
|
976,757
|
|
480,818
|
|
103%
|
|
2,021,665
|
|
1,007,541
|
|
101%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost Applicable to Sales
|
|
|
|
|
2Q17
|
|
2Q16
|
|
Var%
|
|
6M17
|
|
6M16
|
|
Var%
|
Copper
|
|
US$/MT
|
|
4,864
|
|
4,815
|
|
1%
|
|
4,870
|
|
4,808
|
|
1%
|
Zinc
|
|
US$/MT
|
|
1,838
|
|
1,688
|
|
9%
|
|
1,914
|
|
1,610
|
|
19%
|
Copper production in 2Q17 decreased 12% compared to 2Q16 mainly due to a
decrease of ore treated and lower ore grades. In 2Q17 zinc production
decreased 11% compared to 2Q16 mainly due to less ore treated and lower
ore grades.
In 2Q17, zinc Cost Applicable to Sales (CAS) increased 9% quarter on
quarter, mainly due to higher commercial deductions triggered by a 28%
sequential increase in zinc prices which triggered the treatment charge
(TC) escalator. Copper CAS in 2Q17 was in line with the figure reported
in 2Q16.
Zinc production guidance for 2017 is 50k – 60k MT, while copper
production guidance for 2017 is 55k – 65k MT.
Among the Company’s achievements at El Brocal, it’s important to note an
improved metallurgical performance which resulted in: a) a 90% increase
(QoQ) in the silver recovery rate in the lead concentrate, with a 27%
sequential reduction of the silver recovery rate from the zinc
concentrate (better silver payments); b) a 5% sequential increase in the
lead recovery from the lead concentrate; and c) 5% sequential increase
in the copper recovery rate from the copper concentrate.
General and Administrative Expenses
2Q17 General and Administrative expenses were US$18.3 million; an 8%
year-on-year decrease, from US$19.8 million in 2Q16, primarily due to
savings in administrative expenses resulting from initial synergies
between Buenaventura and El Brocal which will end next year.
Exploration in Non-Operating Areas
2Q17 Exploration costs in Non-Operating Areas were US$5.5 million
compared with US$5.0 million in 2Q16. During the period, Buenaventura
primarily focused its exploration efforts on the Marcapunta Norte
(US$0.81 million) and San Gabriel projects (US$0.36 million).
Share in Associated Companies
During 2Q17, Buenaventura’s share in associated companies was US$44.9
million, compared to US$28.4 million reported in 2Q16, comprised of:
Share in the Result of Associates
(in millions of US$)
|
|
|
2Q17
|
|
|
2Q16
|
|
|
Var %
|
|
|
6M17
|
|
|
6M16
|
|
|
Var %
|
Cerro Verde
|
|
|
20.4
|
|
|
15.8
|
|
|
29%
|
|
|
56.4
|
|
|
34.8
|
|
|
62%
|
Coimolache
|
|
|
3.7
|
|
|
6.4
|
|
|
-42%
|
|
|
8.0
|
|
|
12.1
|
|
|
-34%
|
Yanacocha
|
|
|
(27.2)
|
|
|
(1.5)
|
|
|
1676%
|
|
|
(22.6)
|
|
|
2.2
|
|
|
N.A.
|
Total
|
|
|
-3.1
|
|
|
20.7
|
|
|
N.A.
|
|
|
41.8
|
|
|
49.1
|
|
|
-15%
|
YANACOCHA
At Yanacocha (43.65% owned by Buenaventura), 2Q17 gold production was
120,856 ounces (52,754 ounces attributable to Buenaventura); a 22%
decrease as compared to the 155,524 ounces (67,886 ounces attributable
to Buenaventura) produced in 2Q16.
Gold production guidance at Yanacocha for 2017 is 530k – 560k ounces.
In 2Q17, Yanacocha reported a net loss of US$62.2 million, compared to a
net loss of US$3.5 million reported in 2Q16.
CAS in 2Q17 was US$1,129/oz; a 43% increase as compared to the US$790/oz
reported in 2Q16 mainly due to higher mining cost per ton, milling cost
per ton and leaching cost.
The Quecher Main project engineering (oxide deposit) is the process of
being developed, a decision to progress is expected in 2H17. In the case
of Yanacocha Sulfides, technical and economic viability studies have
been progressing, with an updated report expected in 2H17.
Capital expenditures at Yanacocha were US$10.9 million in 2Q17.
CERRO VERDE
At Cerro Verde (19.58% owned by Buenaventura), 2Q17 copper production
was 118,071 MT (23,118 MT attributable to Buenaventura), a 6% decrease
compared to 2Q16 (126,143 MT and 24,699 MT attributable to Buenaventura).
During 2Q17, Cerro Verde reported a net income of US$104.1 million
compared to net income of US$80.8 million in 2Q16. This increase was
primarily due to a higher realized price (US$2.62/Lb in 2Q17 compared to
US$2.15/Lb in 2Q16).
Capital expenditures at Cerro Verde were US$37.8 million in 2Q17.
Copper production guidance at Cerro Verde for 2017 is 500k MT – 550k MT.
COIMOLACHE (Tantahuatay operation)
At Coimolache (40.10% owned by Buenaventura), 2Q17 attributable
contribution to net income was US$3.7 million (US$5.7 million in 2Q16).
Project Development and Exploration
The Tambomayo Ramp up Process (100% ownership)
-
2Q17 results:
-
Gold ounces: 12,454
-
Silver ounces 295,379
-
CAS: 723 US$/Oz Au
-
Full capacity expected by 3Q17.
-
2017 Production Guidance of 60k – 90k Au Oz.
The San Gabriel Project (100% ownership)
-
Geomechanical studies in progress to complete:
-
Mining method and rock support analysis
-
Metallurgical test to optimize processing plant design and
recovery rate
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly
traded, precious metals company and a major holder of mining rights in
Peru. The Company is engaged in the mining, processing, development and
exploration of gold and silver and other metals via wholly owned mines
as well as through its participation in joint exploration projects.
Buenaventura currently operates several mines in Peru (Orcopampa*,
Uchucchacua*, Mallay*, Julcani*, El Brocal, La Zanja and Coimolache and
is developing the Tambomayo project.
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with
Newmont Mining Corporation), an important precious metal producer;
19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper
producer.
For a printed version of the Company’s 2016 Form 20-F, please contact
the investor relations contacts on page 1 of this report, or download
the PDF format file from the Company’s web site at
www.buenaventura.com
.
(*) Operations wholly owned by Buenaventura
Note on Forward-Looking Statements
This press release may contain forward-looking information (as defined
in the U.S. Private Securities Litigation Reform Act of 1995) that
involve risks and uncertainties, including those concerning the
Company’s, Yanacocha’s and Cerro Verde’s costs and expenses, results of
exploration, the continued improving efficiency of operations,
prevailing market prices of gold, silver, copper and other metals mined,
the success of joint ventures, estimates of future explorations,
development and production, subsidiaries’ plans for capital
expenditures, estimates of reserves and Peruvian political, economic,
social and legal developments. These forward-looking statements reflect
the Company’s view with respect to the Company’s, Yanacocha’s and Cerro
Verde’s future financial performance. Actual results could differ
materially from those projected in the forward-looking statements as a
result of a variety of factors discussed elsewhere in this Press Release.
**Tables to follow**
APPENDIX 1
Equity Participation in
Subsidiaries and Associates (as of June 30, 2017)
|
|
|
|
|
BVN
|
|
|
|
Operating
|
|
|
|
|
Equity %
|
|
|
|
Mines / Business
|
El Molle Verde S.A.C*
|
|
|
|
100.00
|
|
|
|
Trapiche Project
|
Minera La Zanja S.A*
|
|
|
|
53.06
|
|
|
|
La Zanja
|
Sociedad Minera El Brocal S.A.A*
|
|
|
|
61.32
|
|
|
|
Colquijirca and Marcapunta
|
Compañía Minera Coimolache S.A **
|
|
|
|
40.10
|
|
|
|
Tantahuatay
|
Minera Yanacocha S.R.L **
|
|
|
|
43.65
|
|
|
|
Yanacocha
|
Sociedad Minera Cerro Verde S.A.A **
|
|
|
|
19.58
|
|
|
|
Cerro Verde
|
Processadora Industrial Rio Seco S.A*
|
|
|
|
100.00
|
|
|
|
Rio Seco chemical plant
|
Consorcio Energético de Huancavelica S.A*
|
|
|
|
100.00
|
|
|
|
Energy – Huanza Hydroelectrical plant
|
Buenaventura Ingenieros S.A*
|
|
|
|
100.00
|
|
|
|
Engineering Consultant
|
(*)Consolidates
|
(**) Equity Accounting
|
APPENDIX 2
|
|
|
|
|
|
GOLD PRODUCTION
|
|
|
|
|
|
|
2Q17
|
|
|
2Q16
|
|
|
%
|
|
|
6M17
|
|
|
6M16
|
|
|
%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Underground
|
Orcopampa
|
|
|
Ore Milled DMT
|
|
|
121,984
|
|
|
118,341
|
|
|
3%
|
|
|
236,469
|
|
|
228,930
|
|
|
3%
|
|
|
|
Ore Grade OZ/MT
|
|
|
0.39
|
|
|
0.40
|
|
|
-3%
|
|
|
0.38
|
|
|
0.40
|
|
|
-5%
|
|
|
|
Recovery Rate %
|
|
|
97.0%
|
|
|
94.9%
|
|
|
2%
|
|
|
96.9%
|
|
|
95.5%
|
|
|
1%
|
|
|
|
Ounces Produced*
|
|
|
46,917
|
|
|
47,826
|
|
|
-2%
|
|
|
89,248
|
|
|
91,962
|
|
|
-3%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Open Pit
|
La Zanja
|
|
|
Ounces Produced
|
|
|
30,647
|
|
|
35,384
|
|
|
-13%
|
|
|
62,902
|
|
|
69,577
|
|
|
-10%
|
Tantahuatay
|
|
|
Ounces Produced
|
|
|
31,725
|
|
|
36,733
|
|
|
-14%
|
|
|
62,970
|
|
|
71,295
|
|
|
-12%
|
* Includes ounces from retreatment of taling dams
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SILVER PRODUCTION
|
|
|
|
|
|
|
2Q17
|
|
|
2Q16
|
|
|
%
|
|
|
6M17
|
|
|
6M16
|
|
|
%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Underground
|
Uchucchacua
|
|
|
Ore Milled DMT
|
|
|
353,236
|
|
|
304,241
|
|
|
16%
|
|
|
686,113
|
|
|
622,623
|
|
|
10%
|
|
|
|
Ore Grade OZ/MT
|
|
|
14.81
|
|
|
15.37
|
|
|
-4%
|
|
|
14.60
|
|
|
15.49
|
|
|
-6%
|
|
|
|
Recovery Rate %
|
|
|
82.4%
|
|
|
83.9%
|
|
|
-2%
|
|
|
83.2%
|
|
|
83.8%
|
|
|
-1%
|
|
|
|
Ounces Produced
|
|
|
4,311,194
|
|
|
3,921,199
|
|
|
10%
|
|
|
8,332,916
|
|
|
8,083,174
|
|
|
3%
|
Julcani
|
|
|
Ore Milled DMT
|
|
|
38,587
|
|
|
43,796
|
|
|
-12%
|
|
|
76,929
|
|
|
88,778
|
|
|
-13%
|
|
|
|
Ore Grade OZ/MT
|
|
|
17.40
|
|
|
19.97
|
|
|
-13%
|
|
|
17.66
|
|
|
19.91
|
|
|
-11%
|
|
|
|
Recovery Rate %
|
|
|
96.5%
|
|
|
95.8%
|
|
|
1%
|
|
|
96.7%
|
|
|
95.7%
|
|
|
1%
|
|
|
|
Ounces Produced
|
|
|
647,883
|
|
|
837,937
|
|
|
-23%
|
|
|
1,314,118
|
|
|
1,690,989
|
|
|
-22%
|
Mallay
|
|
|
Ore Milled DMT
|
|
|
54,558
|
|
|
52,413
|
|
|
4%
|
|
|
103,940
|
|
|
100,959
|
|
|
3%
|
|
|
|
Ore Grade OZ/MT
|
|
|
7.84
|
|
|
8.95
|
|
|
-12%
|
|
|
7.46
|
|
|
8.97
|
|
|
-17%
|
|
|
|
Recovery Rate %
|
|
|
88.9%
|
|
|
92.0%
|
|
|
-3%
|
|
|
90.4%
|
|
|
92.8%
|
|
|
-3%
|
|
|
|
Ounces Produced
|
|
|
380,369
|
|
|
431,346
|
|
|
-12%
|
|
|
700,742
|
|
|
839,964
|
|
|
-17%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Open Pit
|
Colquijirca
|
|
|
Ounces Produced
|
|
|
755,230
|
|
|
302,623
|
|
|
150%
|
|
|
1,568,228
|
|
|
660,322
|
|
|
137%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ZINC PRODUCTION
|
|
|
|
|
|
|
2Q17
|
|
|
2Q16
|
|
|
%
|
|
|
6M17
|
|
|
6M16
|
|
|
%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Underground
|
Uchucchacua
|
|
|
Ore Milled DMT
|
|
|
353,236
|
|
|
304,241
|
|
|
16%
|
|
|
686,113
|
|
|
622,623
|
|
|
10%
|
|
|
|
Ore Grade %
|
|
|
1.71%
|
|
|
1.17%
|
|
|
46%
|
|
|
1.48%
|
|
|
1.15%
|
|
|
28%
|
|
|
|
Recovery Rate %
|
|
|
48.67%
|
|
|
52.9%
|
|
|
-8%
|
|
|
47.3%
|
|
|
50.2%
|
|
|
-6%
|
|
|
|
MT Produced
|
|
|
2,949
|
|
|
1,890
|
|
|
56%
|
|
|
4,831
|
|
|
3,615
|
|
|
34%
|
Mallay
|
|
|
Ore Milled DMT
|
|
|
54,558
|
|
|
52,413
|
|
|
4%
|
|
|
103,940
|
|
|
100,959
|
|
|
3%
|
|
|
|
Ore Grade %
|
|
|
4.7%
|
|
|
5.7%
|
|
|
-18%
|
|
|
4.82%
|
|
|
6.10%
|
|
|
-21%
|
|
|
|
Recovery Rate %
|
|
|
88.0%
|
|
|
88.2%
|
|
|
0%
|
|
|
88.1%
|
|
|
87.6%
|
|
|
1%
|
|
|
|
MT Produced
|
|
|
2,220
|
|
|
2,632
|
|
|
-16%
|
|
|
4,418
|
|
|
5,396
|
|
|
-18%
|
Mining Unit
|
|
|
Operating Results
|
|
|
Open Pit
|
Colquijirca
|
|
|
MT Produced
|
|
|
12,166
|
|
|
13,725
|
|
|
-11%
|
|
|
29,069
|
|
|
23,641
|
|
|
23%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
APPENDIX 3: EBITDA Reconciliation (in thousand US$)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q17
|
|
|
2Q16
|
|
|
6M17
|
|
|
6M16
|
Net Income
|
|
|
-5,739
|
|
|
58,473
|
|
|
70,511
|
|
|
109,721
|
Add / Substract:
|
|
|
62,262
|
|
|
49,834
|
|
|
66,757
|
|
|
60,618
|
Provision for income tax, net
|
|
|
12,492
|
|
|
14,197
|
|
|
9,033
|
|
|
7,408
|
Share in associated companies by the equity method, net
|
|
|
3,055
|
|
|
-20,675
|
|
|
-41,809
|
|
|
-49,072
|
Provision for contingencies
|
|
|
-666
|
|
|
-1,087
|
|
|
11,816
|
|
|
-202
|
Interest income
|
|
|
-1,182
|
|
|
-1,965
|
|
|
-2,473
|
|
|
-4,312
|
Interest expense
|
|
|
8,257
|
|
|
7,694
|
|
|
15,469
|
|
|
15,674
|
Loss on currency exchange difference
|
|
|
-1,212
|
|
|
891
|
|
|
-4,215
|
|
|
-5,488
|
Long Term Compensation provision
|
|
|
0
|
|
|
590
|
|
|
-4
|
|
|
590
|
Depreciation and Amortization
|
|
|
36,826
|
|
|
45,842
|
|
|
81,135
|
|
|
92,680
|
Workers´ participation provision
|
|
|
608
|
|
|
2,418
|
|
|
1,444
|
|
|
3,694
|
Impairment of long-term lived assets
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
Write-Down adjustment
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
Loss from discontinued operations
|
|
|
4,084
|
|
|
1,929
|
|
|
-3,639
|
|
|
-354
|
EBITDA Buenaventura Direct Operations
|
|
|
56,523
|
|
|
108,307
|
|
|
137,268
|
|
|
170,339
|
EBITDA Yanacocha (43.65%)
|
|
|
-12,543
|
|
|
20,221
|
|
|
413
|
|
|
45,625
|
EBITDA Cerro Verde (19.58%)
|
|
|
56,333
|
|
|
46,315
|
|
|
132,096
|
|
|
94,548
|
EBITDA Coimolache (40.095%)
|
|
|
9,838
|
|
|
8,774
|
|
|
18,510
|
|
|
16,203
|
EBITDA Buenaventura + All Associates
|
|
|
110,151
|
|
|
183,617
|
|
|
288,287
|
|
|
326,715
|
Note:
EBITDA (Buenaventura Direct Operations) consists of earnings before net
interest, taxes, depreciation and amortization, share in associated
companies, net, loss on currency exchange difference, other, net,
provision for workers’ profit sharing and provision for long-term
officers’ compensation.
EBITDA (including associated companies) consists of EBITDA (Buenaventura
Direct Operations), plus (1) Buenaventura’s equity share of EBITDA
(Yanacocha) (2) Buenaventura’s equity share of EBITDA (Cerro Verde),
plus (3) Buenaventura’s equity share of EBITDA (Coimolache). All EBITDA
mentioned were similarly calculated using financial information provided
to Buenaventura by the associated companies.
Buenaventura presents EBITDA (Buenaventura Direct Operations) and EBITDA
(including affiliates) to provide further information with respect to
its operating performance and the operating performance of its equity
investees, the affiliates. EBITDA (Buenaventura Direct Operations) and
EBITDA (including affiliates) are not a measure of financial performance
under IFRS, and may not be comparable to similarly titled measures of
other companies. You should not consider EBITDA (Buenaventura Direct
Operations) and EBITDA (including affiliates) as alternatives to
operating income or net income determined in accordance with IFRS, as an
indicator of Buenaventura’s, affiliates operating performance, or as an
alternative to cash flows from operating activities, determined in
accordance with IFRS, as an indicator of cash flows or as a measure of
liquidity.
APPENDIX 4: COST APPLICABLE TO SALES RECONCILIATION
Reconciliation of Costs Applicable to Sales and Cost Applicable to
Sales per Unit Sold
Cost applicable to sales consists of cost of sales, excluding
depreciation and amortization, plus selling expenses. Cost applicable to
sales per unit sold for each mine consists of cost applicable to sales
for a particular metal produced at a given mine divided by the volume of
such metal produced at such mine in the specified period. We note that
cost applicable to sales is not directly comparable to the cash
operating cost figures disclosed in previously furnished earnings
releases.
Cost applicable to sales and Cost applicable to sales per unit of
mineral sold are not measures of financial performance under IFRS, and
may not be comparable to similarly titled measures of other companies.
We consider Cost applicable to sales and Cost applicable to sales per
unit of mineral sold to be key measures in managing and evaluating our
operating performance. These measures are widely reported in the
precious metals industry as a benchmark for performance, but do not have
standardized meanings. You should not consider Cost applicable to sales
or Cost applicable to sales per unit of mineral sold as alternatives to
cost of sales determined in accordance with IFRS, as indicators of our
operating performance. Cost applicable to sales and Cost applicable to
sales per unit of mineral sold are calculated without adjusting for
by-product revenue amounts.
The tables below set forth (i) a reconciliation of consolidated Cost of
sales, excluding depreciation and amortization to consolidated Cost
applicable to sales, (ii) reconciliations of the components of Cost
applicable to sales (by mine and mineral) to the corresponding
consolidated line items set forth on our consolidated statements of
profit or loss for the three and nine months ended September 30, 2015
and 2016, and (iii) reconciliations of Cost of sales, excluding
depreciation and amortization to Cost applicable to sales for each of
our mining units. The amounts set forth in Cost applicable to sales and
Cost applicable to sales per unit sold for each mine and mineral
indicated in the tables below can be reconciled to the amounts set forth
on our consolidated statements of profit or loss for the three and nine
months ended September 30, 2015 and 2016 by reference to the
reconciliations of Cost of sales, excluding depreciation and
amortization (by mine and mineral), Selling Expenses (by mine and metal)
expenses and Exploration in units in operations (by mine and mineral) to
consolidated Cost of sales, excluding depreciation and amortization,
consolidated Selling Expenses and consolidated Exploration in units in
operations expenses, respectively, set forth below.
Set forth below is a reconciliation of consolidated Cost of sales,
excluding depreciation and amortization,
|
to consolidated Cost applicable to sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the 3 months ended June 30
|
|
|
For the 6 months ended June 30
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
|
|
|
|
(in thousands of US$)
|
Consolidated Cost of sales excluding depreciation and amortization
|
|
|
136,414
|
|
|
126,383
|
|
|
277,734
|
|
|
241,793
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Exploration in units in operation
|
|
|
21,541
|
|
|
22,105
|
|
|
41,202
|
|
|
41,221
|
Consolidated Commercial deductions
|
|
|
56,663
|
|
|
59,375
|
|
|
122,818
|
|
|
113,717
|
Consolidated Selling expenses
|
|
|
|
5,854
|
|
|
5,342
|
|
|
10,167
|
|
|
10,115
|
Consolidated Cost applicable to sales
|
|
|
220,472
|
|
|
213,205
|
|
|
451,921
|
|
|
406,846
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Set forth below is a reconciliation of Cost of sales, excluding
depreciation and amortization
|
(by mine and mineral) to consolidated Cost of sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the 3 months ended June 30
|
|
|
For the 6 months ended June 30
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
Cost of sales by mine and mineral
|
|
|
|
(in thousands of US$)
|
Julcani, Gold
|
|
|
|
-19
|
|
|
5
|
|
|
-13
|
|
|
5
|
Julcani, Silver
|
|
|
|
3,888
|
|
|
5,077
|
|
|
11,664
|
|
|
9,082
|
Julcani, Lead
|
|
|
|
516
|
|
|
498
|
|
|
1,138
|
|
|
885
|
Julcani, Copper
|
|
|
|
40
|
|
|
21
|
|
|
82
|
|
|
49
|
Mallay, Gold
|
|
|
|
93
|
|
|
245
|
|
|
193
|
|
|
364
|
Mallay, Silver
|
|
|
|
2,635
|
|
|
2,577
|
|
|
5,015
|
|
|
4,668
|
Mallay, Lead
|
|
|
|
1,328
|
|
|
1,230
|
|
|
2,808
|
|
|
2,525
|
Mallay, Zinc
|
|
|
|
2,790
|
|
|
1,872
|
|
|
4,873
|
|
|
3,381
|
Orcopampa, Gold
|
|
|
|
23,870
|
|
|
20,761
|
|
|
47,840
|
|
|
42,532
|
Orcopampa, Silver
|
|
|
|
1,081
|
|
|
959
|
|
|
2,231
|
|
|
2,040
|
Orcopampa, Copper
|
|
|
|
59
|
|
|
0
|
|
|
79
|
|
|
6
|
Uchucchacua, Gold
|
|
|
|
32
|
|
|
31
|
|
|
52
|
|
|
48
|
Uchucchacua, Silver
|
|
|
|
24,465
|
|
|
24,885
|
|
|
50,566
|
|
|
46,443
|
Uchucchacua, Lead
|
|
|
|
2,508
|
|
|
1,363
|
|
|
4,994
|
|
|
2,670
|
Uchucchacua, Zinc
|
|
|
|
2,203
|
|
|
1,047
|
|
|
3,759
|
|
|
1,931
|
Tambomayo, Gold
|
|
|
|
3,149
|
|
|
0
|
|
|
3,149
|
|
|
0
|
Tambomayo, Silver
|
|
|
|
716
|
|
|
0
|
|
|
716
|
|
|
0
|
La Zanja, Gold
|
|
|
|
24,190
|
|
|
24,049
|
|
|
47,158
|
|
|
41,767
|
La Zanja, Silver
|
|
|
|
658
|
|
|
398
|
|
|
1,345
|
|
|
834
|
El Brocal, Gold
|
|
|
|
1,739
|
|
|
1,805
|
|
|
3,136
|
|
|
3,769
|
El Brocal, Silver
|
|
|
|
4,660
|
|
|
2,429
|
|
|
9,571
|
|
|
5,131
|
El Brocal, Lead
|
|
|
|
4,055
|
|
|
2,262
|
|
|
8,047
|
|
|
4,419
|
El Brocal, Zinc
|
|
|
|
9,819
|
|
|
10,684
|
|
|
23,425
|
|
|
17,974
|
El Brocal, Copper
|
|
|
|
20,279
|
|
|
21,485
|
|
|
39,778
|
|
|
45,595
|
Non Mining Units
|
|
|
|
1,662
|
|
|
2,702
|
|
|
6,127
|
|
|
5,676
|
Consolidated Cost of sales, excluding depreciation and
amortization
|
|
|
136,414
|
|
|
126,383
|
|
|
277,734
|
|
|
241,793
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Set forth below is a reconciliation of Exploration expenses in units
in operation (by mine and mineral) to consolidated Exploration
expenses in mining units:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the 3 months ended June 30
|
|
|
For the 6 months ended June 30
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
Exploration expenses in units in operation by mine and
mineral
|
|
|
(in thousands of US$)
|
Julcani, Gold
|
|
|
|
-12
|
|
|
3
|
|
|
-6
|
|
|
3
|
Julcani, Silver
|
|
|
|
2,443
|
|
|
2,602
|
|
|
5,517
|
|
|
4,813
|
Julcani, Lead
|
|
|
|
324
|
|
|
255
|
|
|
538
|
|
|
469
|
Julcani, Copper
|
|
|
|
25
|
|
|
11
|
|
|
39
|
|
|
26
|
Mallay, Gold
|
|
|
|
32
|
|
|
89
|
|
|
63
|
|
|
130
|
Mallay, Silver
|
|
|
|
924
|
|
|
940
|
|
|
1,644
|
|
|
1,668
|
Mallay, Lead
|
|
|
|
465
|
|
|
449
|
|
|
921
|
|
|
902
|
Mallay, Zinc
|
|
|
|
978
|
|
|
683
|
|
|
1,598
|
|
|
1,208
|
Orcopampa, Gold
|
|
|
|
8,481
|
|
|
9,392
|
|
|
17,056
|
|
|
17,579
|
Orcopampa, Silver
|
|
|
|
384
|
|
|
434
|
|
|
795
|
|
|
843
|
Orcopampa, Copper
|
|
|
|
21
|
|
|
0
|
|
|
28
|
|
|
2
|
Uchucchacua, Gold
|
|
|
|
7
|
|
|
8
|
|
|
10
|
|
|
13
|
Uchucchacua, Silver
|
|
|
|
5,611
|
|
|
6,598
|
|
|
10,078
|
|
|
12,335
|
Uchucchacua, Lead
|
|
|
|
575
|
|
|
361
|
|
|
995
|
|
|
709
|
Uchucchacua, Zinc
|
|
|
|
505
|
|
|
277
|
|
|
749
|
|
|
513
|
Tambomayo, Gold
|
|
|
|
333
|
|
|
0
|
|
|
333
|
|
|
0
|
Tambomayo, Silver
|
|
|
|
76
|
|
|
0
|
|
|
76
|
|
|
0
|
La Zanja, Gold
|
|
|
|
357
|
|
|
3
|
|
|
746
|
|
|
7
|
La Zanja, Silver
|
|
|
|
10
|
|
|
0
|
|
|
21
|
|
|
0
|
El Brocal, Gold
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
El Brocal, Silver
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
El Brocal, Lead
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
El Brocal, Zinc
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
El Brocal, Copper
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
Non Mining Units
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
Consolidated Exploration expenses in units in operation
|
|
|
21,541
|
|
|
22,105
|
|
|
41,202
|
|
|
41,221
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Set forth below is a reconciliation of Commercial Deductions in
units in operation (by mine and mineral)
|
to consolidated Commercial deductions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the 3 months ended June 30
|
|
|
For the 6 months ended June 30
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
Commercial Deductions in units in operation by mine and
mineral
|
|
|
(in thousands of US$)
|
Julcani, Gold
|
|
|
|
-2
|
|
|
1
|
|
|
-2
|
|
|
1
|
Julcani, Silver
|
|
|
|
575
|
|
|
1,435
|
|
|
1,917
|
|
|
2,870
|
Julcani, Lead
|
|
|
|
71
|
|
|
140
|
|
|
184
|
|
|
275
|
Julcani, Copper
|
|
|
|
7
|
|
|
7
|
|
|
15
|
|
|
18
|
Mallay, Gold
|
|
|
|
26
|
|
|
80
|
|
|
64
|
|
|
124
|
Mallay, Silver
|
|
|
|
661
|
|
|
1,149
|
|
|
1,569
|
|
|
2,259
|
Mallay, Lead
|
|
|
|
334
|
|
|
550
|
|
|
886
|
|
|
1,231
|
Mallay, Zinc
|
|
|
|
701
|
|
|
1,302
|
|
|
1,882
|
|
|
2,672
|
Orcopampa, Gold
|
|
|
|
268
|
|
|
48
|
|
|
367
|
|
|
150
|
Orcopampa, Silver
|
|
|
|
63
|
|
|
0
|
|
|
95
|
|
|
16
|
Orcopampa, Copper
|
|
|
|
10
|
|
|
0
|
|
|
14
|
|
|
1
|
Uchucchacua, Gold
|
|
|
|
10
|
|
|
12
|
|
|
17
|
|
|
18
|
Uchucchacua, Silver
|
|
|
|
7,845
|
|
|
10,384
|
|
|
17,471
|
|
|
19,640
|
Uchucchacua, Lead
|
|
|
|
788
|
|
|
561
|
|
|
1,698
|
|
|
1,129
|
Uchucchacua, Zinc
|
|
|
|
2,452
|
|
|
1,431
|
|
|
3,996
|
|
|
2,743
|
Tambomayo, Gold
|
|
|
|
3
|
|
|
0
|
|
|
3
|
|
|
0
|
Tambomayo, Silver
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
La Zanja, Gold
|
|
|
|
52
|
|
|
107
|
|
|
115
|
|
|
165
|
La Zanja, Silver
|
|
|
|
1
|
|
|
7
|
|
|
2
|
|
|
8
|
El Brocal, Gold
|
|
|
|
2,418
|
|
|
2,408
|
|
|
4,457
|
|
|
4,602
|
El Brocal, Silver
|
|
|
|
3,536
|
|
|
2,092
|
|
|
7,714
|
|
|
4,120
|
El Brocal, Lead
|
|
|
|
2,340
|
|
|
1,266
|
|
|
5,133
|
|
|
2,321
|
El Brocal, Zinc
|
|
|
|
7,556
|
|
|
8,599
|
|
|
20,948
|
|
|
13,954
|
El Brocal, Copper
|
|
|
|
26,950
|
|
|
27,796
|
|
|
54,274
|
|
|
55,401
|
Non Mining Units
|
|
|
|
0
|
|
|
0
|
|
|
0
|
|
|
0
|
Consolidated Commercial deductions in units in operation
|
|
|
56,663
|
|
|
59,375
|
|
|
122,818
|
|
|
113,717
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Set forth below is a reconciliation of Selling expenses (by mine and
mineral) to consolidated
|
Selling expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the 3 months ended June 30
|
|
|
For the 6 months ended June 30
|
|
|
|
|
2017
|
|
|
2016
|
|
|
2017
|
|
|
2016
|
Selling expenses by mine and mineral
|
|
|
(in thousands of US$)
|
Julcani, Gold
|
|
|
|
-1
|
|
|
0
|
|
|
0
|
|
|
0
|
Julcani, Silver
|
|
|
|
129
|
|
|
207
|
|
|
234
|
|
|
385
|
Julcani, Lead
|
|
|
|
17
|
|
|
20
|
|
|
23
|
|
|
38
|
Julcani, Copper
|
|
|
|
1
|
|
|
1
|
|
|
2
|
|
|
2
|
Mallay, Gold
|
|
|
|
5
|
|
|
17
|
|
|
10
|
|
|
26
|
Mallay, Silver
|
|
|
|
150
|
|
|
176
|
|
|
253
|
|
|
337
|
Mallay, Lead
|
|
|
|
75
|
|
|
84
|
|
|
141
|
|
|
182
|
Mallay, Zinc
|
|
|
|
159
|
|
|
128
|
|
|
245
|
|
|
244
|
Orcopampa, Gold
|
|
|
|
284
|
|
|
161
|
|
|
438
|
|
|
320
|
Orcopampa, Silver
|
|
|
|
13
|
|
|
7
|
|
|
20
|
|
|
15
|
Orcopampa, Copper
|
|
|
|
1
|
|
|
0
|
|
|
1
|
|
|
0
|
Uchucchacua, Gold
|
|
|
|
1
|
|
|
2
|
|
|
2
|
|
|
2
|
Uchucchacua, Silver
|
|
|
|
989
|
|
|
1,214
|
|
|
1,668
|
|
|
2,023
|
Uchucchacua, Lead
|
|
|
|
101
|
|
|
67
|
|
|
165
|
|
|
116
|
Uchucchacua, Zinc
|
|
|
|
89
|
|
|
51
|
|
|
124
|
|
|
84
|
Tambomayo, Gold
|
|
|
|
16
|
|
|
0
|
|
|
16
|
|
|
0
|
Tambomayo, Silver
|
|
|
|
4
|
|
|
0
|
|
|
4
|
|
|
0
|
La Zanja, Gold
|
|
|
|
331
|
|
|
269
|
|
|
505
|
|
|
486
|
La Zanja, Silver
|
|
|
|
9
|
|
|
4
|
|
|
14
|
|
|
10
|
El Brocal, Gold
|
|
|
|
129
|
|
|
131
|
|
|
196
|
|
|
251
|
El Brocal, Silver
|
|
|
|
345
|
|
|
176
|
|
|
598
|
|
|
342
|
El Brocal, Lead
|
|
|
|
300
|
|
|
164
|
|
|
503
|
|
|
294
|
El Brocal, Zinc
|
|
|
|
727
|
|
|
776
|
|
|
1,464
|
|
|
1,197
|
El Brocal, Copper
|
|
|
|
1,501
|
|
|
1,560
|
|
|
2,486
|
|
|
3,036
|
Non Mining Units
|
|
|
|
477
|
|
|
127
|
|
|
1,057
|
|
|
725
|
Consolidated Selling expenses
|
|
|
|
5,854
|
|
|
5,342
|
|
|
10,167
|
|
|
10,115
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
JULCANI
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
-19
|
3,888
|
516
|
-
|
40
|
4,425
|
5
|
5,077
|
498
|
-
|
21
|
5,600
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
-13
|
11,664
|
1,138
|
-
|
82
|
12,871
|
5
|
9,082
|
885
|
-
|
49
|
10,021
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
-12
|
2,443
|
324
|
-
|
25
|
2,781
|
3
|
2,602
|
255
|
-
|
11
|
2,871
|
|
|
|
Exploration Expenses (US$000)
|
-6
|
5,517
|
538
|
-
|
39
|
6,088
|
3
|
4,813
|
469
|
-
|
26
|
5,311
|
Commercial Deductions (US$000)
|
-2
|
575
|
71
|
-
|
7
|
650
|
1
|
1,435
|
140
|
-
|
7
|
1,583
|
|
|
|
Commercial Deductions (US$000)
|
-2
|
1,917
|
184
|
-
|
15
|
2,113
|
1
|
2,870
|
275
|
-
|
18
|
3,165
|
Selling Expenses (US$000)
|
-1
|
129.16
|
17.15
|
-
|
1
|
147
|
0.21
|
206.79
|
20.27
|
-
|
0.84
|
228
|
|
|
|
Selling Expenses (US$000)
|
-0
|
234
|
23
|
-
|
2
|
258
|
0
|
385
|
38
|
-
|
2
|
425
|
Cost Applicable to Sales (US$000)
|
-34
|
7,035
|
929
|
-
|
72
|
8,003
|
9
|
9,321
|
913
|
-
|
39
|
10,282
|
|
|
|
Cost Applicable to Sales (US$000)
|
-22
|
19,332
|
1,883
|
-
|
137
|
21,330
|
9
|
17,151
|
1,666
|
-
|
96
|
18,922
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
4
|
394,077
|
291
|
-
|
9
|
Not Applicable
|
11
|
817,511
|
787
|
-
|
13
|
Not Applicable
|
|
|
Volume Sold
|
8
|
1,306,733
|
883
|
-
|
25
|
Not Applicable
|
11
|
1,551,735
|
1,365
|
-
|
31
|
Not Applicable
|
CAS
|
-
|
17.85
|
3,189
|
-
|
8,103
|
Not Applicable
|
812
|
11.40
|
1,160
|
-
|
3,015
|
Not Applicable
|
|
|
CAS
|
-
|
14.79
|
2,134
|
-
|
5,536
|
Not Applicable
|
847
|
11.05
|
1,220
|
-
|
3,057
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MALLAY
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
92.53
|
2,635
|
1,328
|
2,790
|
-
|
6,845
|
245
|
2,577
|
1,230
|
1,872
|
-
|
5,923
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
193
|
5,015
|
2,808
|
4,873
|
-
|
12,889
|
364
|
4,668
|
2,525
|
3,381
|
-
|
10,938
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
32.43
|
924
|
465
|
978
|
-
|
2,399
|
89
|
940
|
449
|
683
|
-
|
2,161
|
|
|
|
Exploration Expenses (US$000)
|
63
|
1,644
|
921
|
1,598
|
-
|
4,226
|
130
|
1,668
|
902
|
1,208
|
-
|
3,909
|
Commercial Deductions (US$000)
|
26
|
661
|
334
|
701
|
-
|
1,721
|
80
|
1,149
|
550
|
1,302
|
-
|
3,081
|
|
|
|
Commercial Deductions (US$000)
|
64
|
1,569
|
886
|
1,882
|
-
|
4,401
|
124
|
2,259
|
1,231
|
2,672
|
-
|
6,285
|
Selling Expenses (US$000)
|
5.26
|
150
|
75
|
159
|
-
|
389
|
17
|
176
|
84
|
128
|
-
|
404
|
|
|
|
Selling Expenses (US$000)
|
10
|
253
|
141
|
245
|
-
|
649
|
26
|
337
|
182
|
244
|
-
|
790
|
Cost Applicable to Sales (US$000)
|
156
|
4,369
|
2,202
|
4,627
|
-
|
11,354
|
430
|
4,842
|
2,312
|
3,985
|
-
|
11,569
|
|
|
|
Cost Applicable to Sales (US$000)
|
331
|
8,480
|
4,756
|
8,598
|
-
|
22,165
|
644
|
8,932
|
4,841
|
7,506
|
-
|
21,922
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
152
|
309,975
|
1,236
|
2,169
|
-
|
Not Applicable
|
459
|
385,120
|
1,771
|
2,231
|
-
|
Not Applicable
|
|
|
Volume Sold
|
345
|
621,133
|
2,512
|
3,640
|
-
|
Not Applicable
|
699
|
727,710
|
3,570
|
4,526
|
-
|
Not Applicable
|
CAS
|
1,027
|
14.10
|
1,782
|
2,133
|
-
|
Not Applicable
|
937.10
|
12.57
|
1,305
|
1,786
|
-
|
Not Applicable
|
|
|
CAS
|
960
|
13.65
|
1,893
|
2,362
|
-
|
Not Applicable
|
921
|
12.27
|
1,356
|
1,658
|
-
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ORCOPAMPA
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
23,870
|
1,081
|
-
|
-
|
59
|
25,010
|
20,761
|
959
|
-
|
-
|
-
|
21,720
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
47,840
|
2,231
|
-
|
-
|
79
|
50,150
|
42,532
|
2,040
|
-
|
-
|
6
|
44,578
|
Add:
|
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
8,481
|
384
|
-
|
-
|
21
|
8,886
|
9,392
|
434
|
-
|
-
|
-
|
9,826
|
|
|
|
Exploration Expenses (US$000)
|
17,056
|
795
|
-
|
-
|
28
|
17,879
|
17,579
|
843
|
-
|
-
|
2
|
18,424
|
Commercial Deductions (US$000)
|
268
|
63
|
-
|
-
|
10
|
341
|
48
|
-
|
-
|
-
|
-
|
48
|
|
|
|
Commercial Deductions (US$000)
|
367
|
95
|
-
|
-
|
14
|
476
|
150
|
16
|
-
|
-
|
1
|
167
|
Selling Expenses (US$000)
|
284
|
13
|
-
|
-
|
1
|
298
|
161
|
7
|
-
|
-
|
-
|
168
|
|
|
|
Selling Expenses (US$000)
|
438
|
20
|
-
|
-
|
1
|
459
|
320
|
15
|
-
|
-
|
0
|
335
|
Cost Applicable to Sales (US$000)
|
32,903
|
1,540
|
-
|
-
|
91
|
34,535
|
30,362
|
1,400
|
-
|
-
|
-
|
31,762
|
|
|
|
Cost Applicable to Sales (US$000)
|
65,701
|
3,142
|
-
|
-
|
121
|
68,964
|
60,580
|
2,914
|
-
|
-
|
9
|
63,504
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
42,821
|
142,569
|
-
|
-
|
24
|
Not Applicable
|
43,130
|
155,889
|
-
|
-
|
-
|
Not Applicable
|
|
|
Volume Sold
|
84,921
|
292,704
|
-
|
-
|
31
|
Not Applicable
|
87,081
|
342,097
|
-
|
-
|
3
|
Not Applicable
|
CAS
|
768
|
10.81
|
-
|
-
|
3,849
|
Not Applicable
|
704
|
8.98
|
-
|
-
|
-
|
Not Applicable
|
|
|
CAS
|
774
|
10.74
|
-
|
-
|
3,944
|
Not Applicable
|
696
|
8.52
|
-
|
-
|
3,073
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UCHUCCHACUA
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
32
|
24,465
|
2,508
|
2,203
|
-
|
29,208
|
31
|
24,885
|
1,363
|
1,047
|
-
|
27,326
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
52
|
50,566
|
4,994
|
3,759
|
-
|
59,372
|
48
|
46,443
|
2,670
|
1,931
|
-
|
51,092
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
7
|
5,611
|
575
|
505
|
-
|
6,699
|
8
|
6,598
|
361
|
277
|
-
|
7,245
|
|
|
|
Exploration Expenses (US$000)
|
10
|
10,078
|
995
|
749
|
-
|
11,833
|
13
|
12,335
|
709
|
513
|
-
|
13,570
|
Commercial Deductions (US$000)
|
10
|
7,845
|
788
|
2,452
|
-
|
11,095
|
12
|
10,384
|
561
|
1,431
|
-
|
12,388
|
|
|
|
Commercial Deductions (US$000)
|
17
|
17,471
|
1,698
|
3,996
|
-
|
23,182
|
18
|
19,640
|
1,129
|
2,743
|
-
|
23,530
|
Selling Expenses (US$000)
|
1
|
989
|
101
|
89
|
-
|
1,181
|
2
|
1,214
|
67
|
51
|
-
|
1,333
|
|
|
|
Selling Expenses (US$000)
|
2
|
1,668
|
165
|
124
|
-
|
1,958
|
2
|
2,023
|
116
|
84
|
-
|
2,225
|
Cost Applicable to Sales (US$000)
|
51
|
38,910
|
3,972
|
5,250
|
-
|
48,183
|
53
|
43,080
|
2,353
|
2,806
|
-
|
48,292
|
|
|
|
Cost Applicable to Sales (US$000)
|
81
|
79,783
|
7,852
|
8,629
|
-
|
96,345
|
81
|
80,440
|
4,625
|
5,271
|
-
|
90,417
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
37
|
3,651,304
|
2,921
|
2,180
|
-
|
Not Applicable
|
68
|
3,876,108
|
2,199
|
1,367
|
-
|
Not Applicable
|
|
|
Volume Sold
|
79
|
7,383,706
|
5,178
|
3,298
|
-
|
Not Applicable
|
101
|
7,484,129
|
3,990
|
2,728
|
-
|
Not Applicable
|
CAS
|
1,376
|
10.66
|
1,360
|
2,408
|
-
|
Not Applicable
|
782
|
11.11
|
1,070
|
2,052
|
-
|
Not Applicable
|
|
|
CAS
|
1,036
|
10.81
|
1,516
|
2,617
|
-
|
Not Applicable
|
802
|
10.75
|
1,159
|
1,932
|
-
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TAMBOMAYO
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
3,148.76
|
716
|
-
|
-
|
-
|
3,865
|
|
|
|
|
|
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
3,149
|
716
|
-
|
-
|
-
|
3,865
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
333
|
76
|
-
|
-
|
-
|
409
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
333
|
76
|
-
|
-
|
-
|
409
|
|
|
|
|
|
|
Commercial Deductions (US$000)
|
3
|
-
|
-
|
-
|
-
|
3
|
|
|
|
|
|
|
|
|
|
Commercial Deductions (US$000)
|
3
|
-
|
-
|
-
|
-
|
3
|
|
|
|
|
|
|
Selling Expenses (US$000)
|
16
|
4
|
-
|
-
|
-
|
20
|
|
|
|
|
|
|
|
|
|
Selling Expenses (US$000)
|
16
|
4
|
-
|
-
|
-
|
20
|
|
|
|
|
|
|
Cost Applicable to Sales (US$000)
|
3,501
|
796
|
-
|
-
|
-
|
4,297
|
|
|
|
|
|
|
|
|
|
Cost Applicable to Sales (US$000)
|
3,501
|
796
|
-
|
-
|
-
|
4,297
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
4,840
|
81,454
|
-
|
-
|
-
|
Not Applicable
|
|
|
|
|
|
|
|
Volume Sold
|
4,840
|
81,454
|
-
|
-
|
-
|
Not Applicable
|
|
|
|
|
CAS
|
723
|
9.77
|
-
|
-
|
-
|
Not Applicable
|
-
|
-
|
-
|
-
|
-
|
Not Applicable
|
|
|
CAS
|
723
|
9.77
|
-
|
-
|
-
|
Not Applicable
|
-
|
-
|
-
|
-
|
-
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LA ZANJA
|
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
24,190
|
658
|
-
|
-
|
-
|
24,848
|
24,049
|
398
|
-
|
-
|
-
|
24,447
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
47,158
|
1,345
|
-
|
-
|
-
|
48,503
|
41,767
|
834
|
-
|
-
|
-
|
42,601
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
357
|
10
|
-
|
-
|
-
|
367
|
3
|
0
|
-
|
-
|
-
|
3
|
|
|
|
Exploration Expenses (US$000)
|
746
|
21
|
-
|
-
|
-
|
767
|
7
|
0
|
-
|
-
|
-
|
7
|
Commercial Deductions (US$000)
|
52
|
1
|
-
|
-
|
-
|
53
|
107
|
7
|
-
|
-
|
-
|
114
|
|
|
|
Commercial Deductions (US$000)
|
115
|
2
|
-
|
-
|
-
|
117
|
165
|
8
|
-
|
-
|
-
|
173
|
Selling Expenses (US$000)
|
331
|
9
|
-
|
-
|
-
|
340
|
269
|
4
|
-
|
-
|
-
|
274
|
|
|
|
Selling Expenses (US$000)
|
505
|
14
|
-
|
-
|
-
|
519
|
486
|
10
|
-
|
-
|
-
|
496
|
Cost Applicable to Sales (US$000)
|
24,931
|
677
|
-
|
-
|
-
|
25,609
|
24,428
|
410
|
-
|
-
|
-
|
24,838
|
|
|
|
Cost Applicable to Sales (US$000)
|
48,523
|
1,383
|
-
|
-
|
-
|
49,905
|
42,425
|
851
|
-
|
-
|
-
|
43,277
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
31,105
|
61,330
|
-
|
-
|
-
|
Not Applicable
|
45,856
|
57,602
|
-
|
-
|
-
|
Not Applicable
|
|
|
Volume Sold
|
63,676
|
128,849
|
-
|
-
|
-
|
Not Applicable
|
79,288
|
126,389
|
-
|
-
|
-
|
Not Applicable
|
CAS
|
802
|
11.05
|
-
|
-
|
-
|
Not Applicable
|
533
|
7.11
|
-
|
-
|
-
|
Not Applicable
|
|
|
CAS
|
762
|
10.73
|
-
|
-
|
-
|
Not Applicable
|
535
|
6.74
|
-
|
-
|
-
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BROCAL
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
1,739
|
4,660
|
4,055
|
9,819
|
20,279
|
40,551
|
1,805
|
2,429
|
2,262
|
10,684
|
21,485
|
38,665
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
3,136
|
9,571
|
8,047
|
23,425
|
39,778
|
83,957
|
3,769
|
5,131
|
4,419
|
17,974
|
45,595
|
76,887
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
|
|
Exploration Expenses (US$000)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
Commercial Deductions (US$000)
|
2,418
|
3,536
|
2,340
|
7,556
|
26,950
|
42,800
|
2,408
|
2,092
|
1,266
|
8,599
|
27,796
|
42,160
|
|
|
|
Commercial Deductions (US$000)
|
4,457
|
7,714
|
5,133
|
20,948
|
54,274
|
92,526
|
4,602
|
4,120
|
2,321
|
13,954
|
55,401
|
80,397
|
Selling Expenses (US$000)
|
129
|
345
|
300
|
727
|
1,501
|
3,002
|
131
|
176
|
164
|
776
|
1,560
|
2,808
|
|
|
|
Selling Expenses (US$000)
|
196
|
598
|
503
|
1,464
|
2,486
|
5,247
|
251
|
342
|
294
|
1,197
|
3,036
|
5,119
|
Cost Applicable to Sales (US$000)
|
4,285
|
8,541
|
6,696
|
18,102
|
48,730
|
86,353
|
4,344
|
4,698
|
3,692
|
20,059
|
50,841
|
83,633
|
|
|
|
Cost Applicable to Sales (US$000)
|
7,789
|
17,884
|
13,683
|
45,837
|
96,538
|
181,730
|
8,622
|
9,592
|
7,033
|
33,124
|
104,032
|
162,403
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
3,623
|
750,077
|
4,953
|
9,849
|
10,018
|
Not Applicable
|
3,228
|
342,385
|
2,912
|
11,886
|
10,560
|
Not Applicable
|
|
|
Volume Sold
|
7,051
|
1,575,817
|
10,547
|
23,951
|
19,823
|
Not Applicable
|
6,561
|
717,335
|
5,310
|
20,573
|
21,636
|
Not Applicable
|
CAS
|
1,183
|
11.39
|
1,352
|
1,838
|
4,864
|
Not Applicable
|
1,346
|
13.72
|
1,268
|
1,688
|
4,815
|
Not Applicable
|
|
|
CAS
|
1,105
|
11.35
|
1,297
|
1,914
|
4,870
|
Not Applicable
|
1,314
|
13.37
|
1,324
|
1,610
|
4,808
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON MINING COMPANIES
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
-
|
-
|
-
|
-
|
-
|
1,662
|
-
|
-
|
-
|
-
|
-
|
2,702
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
-
|
-
|
-
|
-
|
-
|
6,127
|
-
|
-
|
-
|
-
|
-
|
5,676
|
Add:
|
|
|
|
|
|
-
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
-
|
|
|
|
|
|
|
Selling Expenses (US$000)
|
-
|
-
|
-
|
-
|
-
|
477
|
-
|
-
|
-
|
-
|
-
|
127
|
|
|
|
Selling Expenses (US$000)
|
-
|
-
|
-
|
-
|
-
|
1,057
|
-
|
-
|
-
|
-
|
-
|
725
|
Total (US$000)
|
-
|
-
|
-
|
-
|
-
|
2,139
|
-
|
-
|
-
|
-
|
-
|
2,829
|
|
|
|
Total (US$000)
|
-
|
-
|
-
|
-
|
-
|
7,184
|
-
|
-
|
-
|
-
|
-
|
6,401
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BUENAVENTURA CONSOLIDATED
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
53,053
|
38,103
|
8,407
|
14,812
|
20,378
|
136,414
|
46,896
|
36,325
|
5,353
|
13,602
|
21,506
|
126,383
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
101,515
|
81,109
|
16,987
|
32,057
|
39,939
|
277,734
|
88,485
|
68,196
|
10,499
|
23,286
|
45,651
|
241,793
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
9,199
|
9,448
|
1,365
|
1,483
|
46
|
21,541
|
9,495
|
10,574
|
1,065
|
960
|
11
|
22,105
|
|
|
|
Exploration Expenses (US$000)
|
18,202
|
18,132
|
2,454
|
2,347
|
67
|
41,202
|
17,731
|
19,660
|
2,081
|
1,721
|
29
|
41,221
|
Commercial Deductions (US$000)
|
2,775
|
12,680
|
3,533
|
10,709
|
26,967
|
56,663
|
2,657
|
15,067
|
2,516
|
11,333
|
27,802
|
59,375
|
|
|
|
Commercial Deductions (US$000)
|
5,021
|
28,768
|
7,901
|
26,826
|
54,302
|
122,818
|
5,060
|
28,913
|
4,955
|
19,368
|
55,420
|
113,717
|
Selling Expenses (US$000)
|
766
|
1,639
|
494
|
975
|
1,503
|
5,854
|
579
|
1,785
|
335
|
955
|
1,561
|
5,342
|
|
|
|
Selling Expenses (US$000)
|
1,166
|
2,791
|
832
|
1,833
|
2,488
|
10,167
|
1,085
|
3,111
|
630
|
1,525
|
3,038
|
10,115
|
Cost Applicable to Sales (US$000)
|
65,794
|
61,869
|
13,799
|
27,978
|
48,894
|
220,472
|
59,627
|
63,751
|
9,269
|
26,850
|
50,880
|
213,205
|
|
|
|
Cost Applicable to Sales (US$000)
|
125,904
|
130,799
|
28,174
|
63,064
|
96,796
|
451,921
|
112,362
|
119,880
|
18,165
|
45,900
|
104,137
|
406,846
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
82,582
|
5,390,786
|
9,401
|
14,198
|
10,050
|
Not Applicable
|
92,752
|
5,634,615
|
7,669
|
15,484
|
10,572
|
Not Applicable
|
|
|
Volume Sold
|
160,919
|
11,390,394
|
19,120
|
30,889
|
19,879
|
Not Applicable
|
173,741
|
10,949,395
|
14,236
|
27,826
|
21,670
|
Not Applicable
|
CAS
|
797
|
11.48
|
1,468
|
1,971
|
4,865
|
Not Applicable
|
643
|
11.31
|
1,209
|
1,734
|
4,812
|
Not Applicable
|
|
|
CAS
|
782
|
11.48
|
1,474
|
2,042
|
4,869
|
Not Applicable
|
647
|
10.95
|
1,276
|
1,650
|
4,806
|
Not Applicable
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COIMOLACHE
|
|
2Q 2017
|
2Q 2016
|
|
|
|
6M 2017
|
6M 2016
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
|
|
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
GOLD (OZ)
|
SILVER (OZ)
|
LEAD (MT)
|
ZINC (MT)
|
COPPER (MT)
|
TOTAL
|
Cost of Sales (without D&A) (US$000)
|
14,565
|
1,145
|
-
|
-
|
-
|
15,710
|
13,952
|
993
|
-
|
-
|
-
|
14,945
|
|
|
|
Cost of Sales (without D&A) (US$000)
|
28,095
|
1,962
|
-
|
-
|
-
|
30,057
|
26,374
|
2,100
|
-
|
-
|
-
|
28,474
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Add:
|
|
|
|
|
|
|
|
|
|
|
|
|
Exploration Expenses (US$000)
|
256
|
20
|
-
|
-
|
-
|
276
|
2,756
|
196
|
-
|
-
|
-
|
2,952
|
|
|
|
Exploration Expenses (US$000)
|
503
|
35
|
-
|
-
|
-
|
538
|
3,950
|
315
|
-
|
-
|
-
|
4,265
|
Commercial Deductions (US$000)
|
55
|
17
|
-
|
-
|
-
|
73
|
190
|
17
|
-
|
-
|
-
|
207
|
|
|
|
Commercial Deductions (US$000)
|
226
|
26
|
-
|
-
|
-
|
252
|
320
|
33
|
-
|
-
|
-
|
353
|
Selling Expenses (US$000)
|
169
|
13
|
-
|
-
|
-
|
182
|
270
|
19
|
-
|
-
|
-
|
289
|
|
|
|
Selling Expenses (US$000)
|
327
|
23
|
-
|
-
|
-
|
350
|
512
|
41
|
-
|
-
|
-
|
553
|
Cost Applicable to Sales (US$000)
|
15,045
|
1,196
|
-
|
-
|
-
|
16,241
|
17,167
|
1,225
|
-
|
-
|
-
|
18,392
|
|
|
|
Cost Applicable to Sales (US$000)
|
29,151
|
2,046
|
-
|
-
|
-
|
31,197
|
31,157
|
2,488
|
-
|
-
|
-
|
33,645
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divide:
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume Sold
|
32,103
|
184,622
|
-
|
-
|
-
|
Not Applicable
|
36,596
|
191,812
|
-
|
-
|
-
|
Not Applicable
|
|
|
Volume Sold
|
62,596
|
308,518
|
-
|
-
|
-
|
Not Applicable
|
69,404
|
430,003
|
-
|
-
|
-
|
Not Applicable
|
CAS
|
469
|
6.48
|
-
|
-
|
-
|
Not Applicable
|
469
|
6.39
|
-
|
-
|
-
|
Not Applicable
|
|
|
CAS
|
466
|
6.63
|
-
|
-
|
-
|
Not Applicable
|
449
|
5.79
|
-
|
-
|
-
|
Not Applicable
|