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There seems to be some confusion between long term goals at Sekisovkoye and the long term goal for the entire company (Seki plus Teren-sai). It is important as investors that we know what we are investing in. The long term goal for the entire company is 2Mtpa, the long term goal for Sekisokoye is currently 1Mtpa (to be achieved in 2-3 years).
You can see it in the numbers. Nowhere is there a long term goal of 3Mtpa. There is no 3rd processing plant currently in the long term plan.
Also the life of mine (LoM) for Sekisovkoye is >30 years, the 2P ore reserves are 33.45Mtpa. IF the 'plan' were for 2Mtpa processing at Sekisovkoye then the LoM would NOT be >30 years...it would be >16 years. Do the maths...see the light!!
Baldy, you obviously didn't watch the presentation, they confirmed the intention to expand Seki to 2mtpa. You don't know your arse from your elbow!
Bald Bullocks Eagle you have multiple habits of talking bullocks now go fly away or go under your troll bridge .
Dofmeister, are you trying to mislead people on purpose? You are quoting two seperate sources and making 2+2=99.
It is obvious from the latest presentation that the 'company' has a long term goal of 2Mtpa. This will be achieved by upgrading the current processing plant at Sekisovkoye from 850Ktpa to 1Mtpa over the next 2-3 years. Then a second processing plant may be built at Teren-sai. It is all laid out in the latest presentation....it is clear & simple to understand. Why do you have a fixation with 3 processing plants and 'presumably' 3Mtpa? It is wrong & misleading to continue repeating this falehood.
I have said that it wasn't entirely your fault you got it wrong because the annual report was ambiguous....to continue trying to justify your original mistake just makes you look foolish (IMO).
Hey Baldy, now talking about another plant at Teren Sai as well !
From the presentation:
"Construction of the second gold processing plant at the Teren-Sai deposit"
Get your small nodule around that one !
Hey Baldy, from the 2020 AR:
"The long term plan still consists in operating the Sekisovskoye Mine at 850kt annual capacity for three years then
ramping up production to 2Mtpa over a six year period". Confirmed in the presentation. Where is the ambiguity ? LOL.
"The company did say in the annual report that long term plans envisage two 1million tonnes/annum processing plants at Seki plus the possibility of a separate plant at Teren-Sai."
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Panda, as I said at the time the annual report was ambiguous....it could be read two ways. The latest presentation has IMO provided clarity.
PS I don't think the annual report had a long term goal of 3Mtpa....which is ambiguous IF their long term goal was three 1Mtpa processing plants. The latest presentation seems to suggest the long term goal is the new processing plant at Teren-sai....it "MAY be required". Perhaps there is a 'LONG long term goal' of 3 processing plants....longer than long term!!!!
The company did say in the annual report that long term plans envisage two 1million tonnes/annum processing plants at Seki plus the possibility of a separate plant at Teren-Sai. However this is a long-term goal so it's best to focus now on the more immediate plans to increase output to the current plant capacity of 850k TPA and then to upgrade this to 1M TPA which would have the potential to boost gold production to 60,000 oz per annum
"Read it once more Baldy. Sekisovskoye is being upgraded to 2mtpa. That will be using a shaft they are currently sinking and s second CIL plant."
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DofM, read what once more? The latest presentation is quite clear I think. Have you seen something else that nobody else has?
A new shaft & CIL plant doesn't mean that Seikisovkoye will be able to process 2Mtpa.
Read it once more Baldy. Sekisovskoye is being upgraded to 2mtpa. That will be using a shaft they are currently sinking and s second CIL plant.
Spike, I suspect you may be right. Although I sort of had the idea - from reading previous communiques - that Sekivoskoye plant was for upgrade & the new plant was at Teren-sai. The dead giveaway was the long term goal was 2 Mtpa NOT 3 Mtpa. The latest presentation does make things clearer & remove a layer of ambiguity.
To be honest I think until the presentation this week the company didn’t know how many processing plants they would need and where they should be.
" I suggest you read the report carefully again - it is proposed to construct a separate plant at Teren Sai and upgrade Seki via 2 x 1 M tpa plants. I give up........."
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It was Dofmeister....apparently he gave up.
Some time ago there was 'discussion' that there were in fact 3 processing plants to be built....a second plant at Sekiskovkoye and a 3rd plant at Teren-Sai. That was news to me and I questioned it at the time. The latest report sort of confirms that the current Sekiskovkoye plant is 'only' being upgraded to 1Mtpa (from 850Ktpa).....a new plant 'MAY' be required at Teren-Sai...."In the future as production grows an additional golf processing plant may be required (at Teren-Sai)" (pp11 of report)
I think the 'plan' is to truck ore from Teren-Sai to the current plant....presumably until the 1Mtpa capacity (post upgrade) is exceeded when they will 'presumably' look at operating a second plant at Teren-sai.