RESULTADOS PRIMER TRIMESTRE 200X

ENERO - 2006 FEBRERO - 2006 MARZO - 2006

ACTUAL PLAN % ACTUAL PLAN % ACTUAL

Total Tratado TM 64,059 63,600 101% 56,047 57,400 98% 65,627

Plomo % Pb 3.21 3.10 104% 3.04 3.09 98% 3.18

Zinc % Zn 7.83 7.72 101% 7.55 7.88 96% 7.28
Cobre % Cu 0.25 0.28 89% 0.24 0.29 83% 0.24
Plata g/t Ag 99.22 81.80 121% 88.02 83.05 106% 96.42

Concentrado Cu TM 317 363 87% 248 337 73% 275

% Cu % Cu 23.86% 24.24% 98% 26.07% 24.24% 108% 24.69%
Recuperación Cu % 47.75% 49.8% 96% 47.78% 49.7% 96% 42.79%
Ag g/t Ag 6,033 4,106 147% 5,257 4,137 127% 6,344
Recuperación Ag % 30.1% 28.65% 105% 26.4% 29.23% 90% 27.57%
PRODUCCION
Concentrado Pb TM 2,575 2,568 100% 2,222 2,302 97% 2,635
% Pb % Pb 67.84% 67.00% 101% 66.82% 67.00% 100% 67.69%
Recuperación Pb % 85.03% 87.3% 97% 87.28% 87.1% 100% 85.52%
Ag g/t Ag 1,085 908 119% 1,056 916 115% 1,040
Recuperación Ag % 44.0% 44.8% 98% 47.6% 44.3% 107% 43.3%
Concentrado Zn TM 7,810 7,754 101% 6,631 7,166 93% 7,633
% Zn % Zn 59.25% 58.50% 101% 59.00% 58.50% 101% 57.82%
Recuperación Zn % 92.31% 92.5% 100% 92.50% 92.70% 100% 92.38%
Ag g/t Ag 109 103 106% 95 109 87% 127
Recuperación Ag % 13.4% 15.30% 87% 12.8% 16.38% 78% 15.3%

Plata Recuperada ozs 178,577 148,482 120% 137,518 137,730 100% 175,352
Plata Pagable ozs 144,773 116,748 124% 111,428 106,987 104% 141,167

Precio Zn $/TM $1,720 $1,500 115% $2,095 $1,500 140% $2,302

Precio Pb $/TM $1,124 $830 135% $1,118 $830 135% $1,277
VALORPrecio Cu $/TM $4,734 $2,500 189% $4,982 $2,500 199% $5,103
Precio Ag $/Oz $8.70 $7.50 116% $8.54 $7.50 114% $9.53
Precio Au $/Oz $423 #REF! #REF!
Valor Producción US$ 7,428,924 5,866,386 127% 6,990,119 5,399,902 129% 8,980,821
IMESTRE 200X
MARZO - 2006 ACUMULADO - 2006 . 2005
PLAN % ACTUAL PLAN % IER TRIM.

63,800 103% 185,733 184,800 101% 160,782

3.08 103% 3.15 3.09 102% 3.75

7.91 92% 7.55 7.84 96% 8.98
0.28 86% 0.24 0.28 86% 0.35
81.80 118% 94.85 82.19 115% 108.55

372 74% 839 1,072 78% 1,229

24.24% 102% 24.78% 24.24% 102% 26.85%
50.11% 85% 46.13% 49.85% 93% 59.00%
4,152 153% 5,906 4,132 143% 3,772
29.59% 93% 28.16% 29.16% 97% 26.6%
2,551 103% 7,432 7,421 100% 7,912
67.00% 101% 67.48% 67.00% 101% 68.49%
87.05% 98% 85.88% 87.15% 99% 89.80%
900 116% 1,060 908 117% 1,163
44.0% 98% 44.80% 44.38% 101% 52.7%
7,982 96% 22,074 22,902 96% 22,624
58.50% 99% 58.68% 58.50% 100% 59.57%
92.59% 100% 92.39% 92.58% 100% 93.23%
100 128% 111 104 107% 83
15.22% 101% 13.86% 15.61% 89% 10.8%

149,056 118% 491,447 435,268 113% 505,411

117,338 120% 397,368 341,073 117% 433,848

$1,500 153% $2,039 $1,500 136% $1,180

$830 154% $1,173 $830 141% $951
$2,500 204% $4,940 $2,500 198% $3,268
$7.50 127% $8.92 $7.50 119% $6.90
#REF! #REF! =+'H:\Documents and Settings\WSantos\Mis documentos\Vinchos\Carta Mensual\DOCUME~1
5,985,669 150% 23,399,864 17,251,957 136% 15,474,609
mentos\Vinchos\Carta Mensual\DOCUME~1\AOSORIO\CONFIG~1\Temp\[reporte_05.xls]operaciones'!R10C65
CALCULO DE VALORIZACION DE CONCENTRADOS
Enero
Plomo $/tms 1,124.08
Zinc $/tms 1,719.84
Cobre $/tms 4,734.33
Plata $/Oz 8.70
Oro $/Oz 549.35

Tms 64,059
% Cu 0.25
% Pb 3.21
% Zn 7.83
g/Ag 99.22
Oz/Ag 3.19
Concentrado Zinc
Recup Zn % 92.26%
% Zn en Cc Zn % 59.25%
59.25
Recup Ag en Cc Zn % 13.4%
Ag en Cc Zn g/Ag 109
Concentrado de Zinc Tms 7,810
Plata pagable de la Producción de Cc Oz 1,061
Pago Zinc min deduct 8 un 85% 866.15
Pago Plata deduct 3.0 Oz/Tc 70% 1.18
Maquila Base $ 1,000 $ -183.19
Escalador 16 c/t , - 14 c/t -115.17
Valor CIF Merma 0.5% 568.97
Valor TMS Cc Zn $ 568.97

Concentrado Plomo
Recup Pb % 85.0%
% Pb en Cc Pb % 67.84%
67.84
% Zn en Cc Pb % 5.33%
Recup Ag en Cc Pb % 44%
Ag en Cc Pb g/Ag 1,085
Concentrado de Plomo Tms 2,575
Plata pagable Oz 85,323
Pago Plomo min deduct -3 95% 724
Pago Plata min deduct 50 g 95% 288
Oro en Cc Pb g/t
Pago Oro deduct -1 g/t 0
Maquila $ -80.0
Escaladores $ 0.15 Base $ 500 -63.61
Refinación Ag $ 0.435449/ pay Oz 0.25 -8.28
Refinación Au $ 8.0 / pay Oz 0.00
Penalidad Zn $ 3.0 por % > 3% 2.13 0.00
Penalidad Bi $ 1.5 / 0.1% > 0.1% 0.30 0.00
Valor TMS Cc Pb 0.5 % merma $ 860.83

Concentrado Cobre
Recup Cu % 47.18%
% Cu en Cc Cu % 23.86%
% Pb en Cc Cu % 10.39%
% Zn en Cc Cu % 7.69%
Au en Cc Cu g/t 1.50
Recup Ag en Cc Cu % 30.06%
Ag en Cc Cu g/t 6,033.14
Concentrado de Cobre Tms 316.69
Plata pagable Oz 58,357
Pago Cobre -1.1% min deduct 1,077.53
Pago Plata 50 g min deduct 95% 1,603.16
Pago Oro 1 g min deduct 95% 8.83
Maquila $ -135.00
Escaladores 10% Base $1,984
Refinación Cobre 12 c/lb pay Cu -60.21
Refinación Plata $ 0.25 / pay Oz -46.07
Refinación Oro $ 7.50 / pay Oz -0.13
Penalidad Pb + Zn $ 2.0 / % > 9% -13.62
Penalidad As $ 2.0 / 0.1% / > 0.25 0.32 -1.35
Penalidad Sb $ 2.0 / 0.1% / > 0.40 0.80 -4.35
Penalidad Bi $ 1.5 / 0.01% / > 0.10 0.30 -1.50
Valor TMS Cc Cu 0.5 % merma $ 2,427.30

Valor del Cc Zn $ 4,443,630

Valor del Cc Pb $ 2,216,597
Valor del Cc Cu $ 768,697
Valor Total $ 7,428,924
Valor $/tms $/tms 115.97
% Cu 17.24
% Pb 7.27
% Zn 8.86
Oz Ag 5.94
871.70
0.01361
0.05
17.2377600852767
 108.86218

Valor Zn Valor Ag Rec Zn Rec Ag Valor de Zn Cabeza Valor Ag en Cabeza

567.79 1.18
9.58 0.01 92.26 13.4 8.841 0.00145

Valor Pb Valor Ag Rec Pb Rec Ag Valor de Pb Cabeza Valor Ag en Cabeza

580.84 280.00
8.56 0.26 85 44 7.278 0.114
Valor Cu Valor Ag Rec Cu Rec Ag Valor de Cu Cabeza Valor Ag en Cabeza
871.70 1,555.59
36.53 0.26 47.18 30.06 17.24 0.08

Total Aporte Ag 0.19

gr/Oz 31.10
Valor por Oz 5.99

0.23 4.01
2 16.52
7 83.69
3 18.74
122.96
0.001447004477

0.11299184207
0.077119608615

0.191558455162
31.10
5.96