they're spending the money on upgrading the machinery to increase profit. Not all the money has come from Yorkville - investors (unspecified) too, which shows confidence. This RNS spells it out - investors are no longer just buying JN, they are buying a cash positive mine with new machinery and surveys done. It might not be obvious at the moment, but looking back I believe we'll say this was the moment XTR turned into a company worth investing in.
To be honest I am not sure that we can achieve anything other than looking at the number provided. We cannot extrapolate the mining grade, we do not have all the necessary variables.
The concentrate is just that - the final output grade from the Processing flowsheet. Nothing more. I am unclear how this is influenced by the source grades and/or the new flotation cells - so we cannmot use this number for anyting other than understanding that the process flow itself is becoming more efficient.
We DO know that they have managed to identify higher grade drives, and exploit them. This is good news.
We know how many tonnes are/should be mined. (6.5 k tons now, 8.5k tons in dec) - which is good news - we are NOW doing 6.5k tons.
But we do not know the grades of the ore itself, or the amount of concentrate.
However - if you wish to read between the lines, higher grades, higher throughput, more efficient processing, better geological understanding and the capacity to drill underground with our own kit rather than be dependent on hiring, is all good news.
hence - I continue to hold. I dislike the red on the ISA mind you, but will continue to hold. Think, with the possible exception of the POG, that we have seen the worse now.
Affe .......... yep ........ just done a quick scan of my figures and your right . My concentrate recovery of 85% from crush ore does look to good to be true but so does the concentrate gold grades increasing from 27g/t to over 60g/t. but that's in todays RNS ......... I'll have more time to check whats what later . If in the mean time you can find my error that would be great .
I think your numbers are wrong fella. Please correct me if I am not understanding you.
"To equate concentrate volume is easy enough 85% of throughput 6,500 tons per month but come December 8,500 tons / month hence at present we've 5,525 tons of concentrate times 60g/t of gold . Then in a minimum of 12 days time we'll have 7,225 tons of concentrate containing 60g/t of gold or a total of 433,500 g/t of gold / month or for ease of calculation in troy oz terms 13,937 oz/t per month"
Lets take a step back - using your numbers of 13/937 toz/pcm the MINING grade would need to be over 1 Troy ounce per tonne, and I can guarantee that is not the case.
You are mixing up concentrate and mined grades. Mined grades are usually around the 5-15 gram per tonne mark. we do not know what the current mined grades are at Chepica. Occasionally you hit a Bonanza shoot and the grades skyrocket, but these shoots are usually very short lived.
We do however know what the OUTPUT concentrate grades are, namely once the roch has been crushed, screened, chemically treated, floated etc. But they did not tell us how many tons of this they are producing, so we cannot work back and get the mined grades as yet.
Enter10 ........... originally we had Mill 1 and Mill 2 in our sorting plant with a new ball mill ordered probably to replace Mill 2 . Maintenance work was carried out on Mill 2 hence as I've said before I think Mill 2 is staying put now with the 9,500 t/m ore capacity being on the low side .
Just done some dummy trades and them crafty MM's have dropped the bid but the real time ask is at 0.145p . On all trades up to 3 m shares then N/T kicks in . We've seen some tasty buy's of late at 0.15p hence buying pressure would soon have this SP going North again . How many other companies on the AIM market are cash flow positive which in a matter of days XTR will be .
Affe Although full production ramp up is expected second half 2015 we will be producing 8500 tons by Dec. Assuming full prod cap is 9500 tons going by previous RNS 's we won't be too far from full capacity in Dec. Unless of course, if full capacity is now higher than 9500 tons.
There are so many good points to today's RNS but as all traders / investors know the placing price was at 0.13p / share hence we all want to buy more at that price .
Good points to me are concentrate gold grades increasing from 27g/t to over 60g/t.
To equate concentrate volume is easy enough 85% of throughput 6,500 tons per month but come December 8,500 tons / month hence at present we've 5,525 tons of concentrate times 60g/t of gold . Then in a minimum of 12 days time we'll have 7,225 tons of concentrate containing 60g/t of gold or a total of 433,500 g/t of gold / month or for ease of calculation in troy oz terms 13,937 oz/t per month
Gold currently US$1,200 / oz and we'll be producing 13,937 oz per month from December when increased throughput of ore increases to 8,500t/m ........... Sadly no costs were mentioned or profit / month could have been tabulated but cash-flow positive from the start of 2015 was stated in today's RNS and that's good enough for me ....... :-)
As a lot on here know I became disheartened with this share some time ago, as I have never had 12K of my money sat in one place for so many years doing nothing. However how can anyone moan about that RNS OK they need to raise a few quid but so what don't we all. We asked for updates and we are getting them and everything else is positive in fact very positive. Positive cash flow by Jan 2015 thats in a few weeks, well thats good enough for me, GLA
p.s. Drif - don't forget hat the grades mentioned are Concentrate grades, not mined grades. We do not know what the current mining grades are at the moment. But they are clearly working on the processing with some success.
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