Part $2$: $(45$ pts$)$ The calculations performed in Part $1$ provide only a rough approximation of the value of the ore for the purposes of early$-$stage evaluation. Using the terms of the enclosed Copper Smelter Schedule below and the given specifications associated with the underground project described above, recalculate the revenues using the following value parameters in greater detail. Please determine: Average Concentrate Grade at Mill $($Colville$,$ WA$)$ Average Concentrate Grade as Received at Port of Seattle Average Concentrate Grade as Received in China Net Smelter Return per wet metric ton $($wmt$)$ of concentrates Received in China Net Smelter Return per wmt of concentrates Shipped from Washington Net Smelter Return per Ton of ore Mined in Washington Total Daily Revenue generated by the Mine $($see Part $1$ for details$)$ Note: dmt $=$ dry metric ton COPPER SMELTER CONTRACT TERMS Quantity: Copper concentrates reasonably free of deleterious impurities and having the following approximate analysis Quantity: No Quantity Specifications Delivery: FOB vessel stowed and trimmed, China Price: Copper: If final assay is less than $26\%$ Cu$,$ deduct $1\mathrm{.}0$ unit; if greater than $26\%$ Cu$,$ deduct $1\mathrm{.}1$ units; and pay for $98\%$ of the remainder at the LME Wirebar Settlement for the quotation period. Silver: Deduct $0\mathrm{.}8$ ozt, pay $95\%$ of the remainder at the London Spot $($US Equivalent$)$ for the quotation period, less $ $0\mathrm{.}25/$ozt$.$ Gold: Deduct $0\mathrm{.}03$ ozt, pay for $95\%$ of the remainder at London Initial and Final gold quotations averaged for the quotation period, less $$5\mathrm{.}00/$ozt$.$ Treatment Charge: $$85$ per dmt$,$ subject to cumulative annual escalation of $9\%$ per year. Refining Charge: $$0\mathrm{.}08$ per lb of payable copper, subject to cumulative annual escalation of $9\%$ per year. Price Participation: For every $$0\mathrm{.}01$ per lb$.$ that the settlement price for copper exceeds $$2\mathrm{.}50$ per lb$.,$ the refining charge increases by $$0\mathrm{.}001$ per lb$.$ This increase in refining charge shall be limited to a total of $$0\mathrm{.}20$ per lb$.$ Quotation Period: Either month or arrival or month following month of arrival at port of final destination, at buyer$$s option. Penalties: Arsenic $($As$)$: $$1\mathrm{.}00/$dmt for every $0\mathrm{.}1\%$ over$0\mathrm{.}5\%$ Bismuth $($Bi$)$: $$1\mathrm{.}50/$dmt for every $0\mathrm{.}1\%$ over $0\mathrm{.}1\%$ Antimony $($Sb$)$: $$1\mathrm{.}00/$dmt for every $0\mathrm{.}1\%$ over $0\mathrm{.}5\%$ Moisture: $$0\mathrm{.}50/$dmt for every $1\mathrm{.}0\%$ over $8\mathrm{.}0\%$ Fractions in proportion GIVEN SPECIFICATIONS OF THE ORE & CONCENTRATES Mine Specifications: $1800$ tons$-$ore$/$day $($mill$)$ Average Mill Head Grades: $0\mathrm{.}70\%$ Cu $0\mathrm{.}15$ ozt$/$ton Au Mill Recovery: Cu $85\%$ Au $90\%$ Mill Concentration Ratio: $28$:$1$ Tailings Slurry Composition: $10\%$ Solids & $90\%$ Water Concentrate Impurities: $0\mathrm{.}35\%$ As$,0\mathrm{.}20\%$ Bi$,0\mathrm{.}15\%$ Sb Ore Moisture: $18\%($before entering mill$)$ Concentrate Moisture: $5\mathrm{.}2\%$ Shipped $($Mill$)9\mathrm{.}0\%$ Received $($Port of Seattle$)6\mathrm{.}4\%$ Received $($China$)$ Transportation Costs: Rail: Mill $$ Port $($Seattle$)$: $$37\mathrm{.}20/$ton Loading & Stowing $($Seattle$)$: $$15\mathrm{.}10/$ton Ocean Freight $($Seattle$-$China$)$: $ $25\mathrm{.}40/$tonne Unloading $($China$)$: $ $6\mathrm{.}12/$tonne Transit Losses: Mill $$ Seattle $($loaded$)$: $1\mathrm{.}0\%$ Solids Seattle $$ China $($unloaded$)$: $0\mathrm{.}5\%$ Solids Prices for the Quotation Period: Copper: $$3\mathrm{.}85/$lb Gold: $$1890\mathrm{.}00/$ozt Silver: $$20\mathrm{.}30/$ozt