Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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They reported commercial production beginning of July but were processing ore prior to that and building up stockpiles in prep. They are only producing a small amount and blending waste rock, so G&A costs will be higher per oz as less oz to spread the costs.
Hi c f, interesting read. I think it is going to become obvious that generally aisc are going up as more goldies report . A eagle disclosed this recently . There is no telling what the gold price will be when in production but one thing is almost guaranteed is that aisc will be higher. I cant imagine that our predicted aisc will turn out to be much different from calibre or mako which is pretty reasonable.
Do you know when Makos first pour was by any chance ?
Mako Q3 results.
https://makominingcorp.com/news/index.php?content_id=219
AISC over $1000 per ounce.
http://www.kereport.com/2021/11/23/mako-mining-an-operations-and-exploration-update-on-latin-americas-newest-gold-mine/
Akiba, CEO of mako giving an update. He says it would take about 4 months and not much capex to increase to 1,000tpd. He says they should have enough ore to ramp up to 1000 tpd by the end of 2022. Even if we agreed a toll deal now, they would need 4 months to have capacity to mine of ore which would be March/April 2022 which would only give 6-8 months of production before they use their own ore.
Simms, unfortunately there will be a lot of things us mere shareholders will never get the answer to. Is anyone here close to MC? Don't know why I'm asking as he won't be able to disclose anything anyway.
If a toll were to happen, for it to benefit the shareprice, it probably needs to be done before the end of the year with the fs being done in Q1 2022.
Seriously what is MC up to when it comes to the toll agreement? We can all imagine Calibre was driving a hard bargain on the toll and maybe even wanted something extra but it was talked ad nausea 2 years ago and drove the share price upwards in preparation but now seriously with Mako mining there is no excuse and again this was talked about over 6-12 months ago driving up the share price but still nothing. This can now only be down to poor negotiation as no one can take so long to agree a deal. Should be very straightforward when both parties are win-win.Sadly MC is sleep walking into handing over the keys to the mine to Jim Mellon and friends in the next placing as he will see his shareholding salami sliced and his own exit strategy of a share price of £1.50+ in tatters. MC could end up very marginalised by new shareholders. The toll is without doubt the most important strategic decision he needs to get on top of. We have probably already lost at least £50m in lost revenue from not sorting any deal with Calibre years ago and the market is punishing that lack of resolve. Never too late to get a toll of course but questions need to be asked what stopped this happening 2 years ago. Who stopped the deal and did MC and JM ask for too much.
Taken from the news release:
The ore will be sampled and weighed at the Elk Gold Mine to determine the
contained ounces of gold and silver. Following delivery, New Gold will pay
Gold Mountain at the end of each calendar month based on the value of the gold
and silver in the ore, net of the agreed metallurgical recovery and
concentrate selling costs. The terms of the Ore Purchase Agreement mitigate
the variance and volatility of operational throughput and allows the Company
to avoid any risk of recovery.
https://stockhouse.com/news/press-releases/2021/01/27/gold-mountain-mining-corp-signs-ore-purchase-agreement-with-new-gold-inc#NFB20210127
Gold Mountain mining corp signed an ore purchase agreement with new gold end of Jan 2021 and their share price has gone from CAD 1.27 at the time to CAD 1.89 now which is pretty decent considering most gold miners are down this year.
I might be missing something, but I read the whole RNS/press release and can't see any mention of there being a split in the cost of the ore, i.e. Gold mountain corp get 100% of the revenue minus processing costs etc. There doesn't appear to be any % given to new gold inc (who own the processing plant where the ore is being trucked to!). I would appreciate anyone elses eyes to look over this deal.
Come on Mark!!!!!
Nothing obviously specific to a toll agreement but they released this today.
https://makominingcorp.com/news/index.php?content_id=218
Mako bought portrellios from us in Dec 2019 and have just been agreed exploration rights for drilling.