In 4q10, GPR said that its "cash cost" was U$8.41 per ounce of silver sold.Yes, you read that right. When GPR touts its "cash cost" figure, what it doesn't explain is that it only covers less than half of its real costs.
This means its "cash cost" total for the quarter added up to U$3.111m (and if you don't believe me, check the company filings on SEDAR, they're all there).
However, its "Cost of Sales" for the quarter was $6.36m!
2q11 silver production: 386,210 oz
2q11 cash cost: $11.84
Total of above: $4.57m
Reported cost of sales in 2q11 report: $4.61m
2q11 cash cost: $11.84/oz
1h11 cash cost: $10.69/oz
UPDATE: Reacting to this post, your author receives this question as part of a mail from reader CV (a GPR long):
Answer: Guy's gotta have a hobby.
UPDATE 2: Who is goldminingXpert? Do I know you? A quick mail would be appreciated if possible. And if Christopher Barker (aka TMFsinchiruna) is resorting to Ad Hom attacks instead of addressing his own obvious failings he so totally fails. Ego = poverty in this game, dumbass.