RE: RNS20 May 2022 10:39
APR
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Commentary:
Q1 Ops report contains almost no operational mining throughput, processing or recovery information which implies large scale shutdown of processing plant as upgrades and expansion are implemented especially as gold sales were quoted and not gold produced.”
I thought exactly the same, until I read
“ 54,121t of ore (versus 51,732 tons in Q4'21) was processed at an average grade of 1.75g/t Au, resulting in gold sales of.1,226 ounces - an increase of 17% on the previous quarter sales of 1,047 ounces in Q4 2021.”
54,121t of ore was processed - An increase from Q4 levels, this to me doesn’t suggest a high amount of plant downtime. Resulting in Gold sales
I’l read through again, but if they were down, just be transparent and after months of waiting, inform the shareholders what’s going on. From the recent Q&A with Stockbox, I got the impression upgrade works with the Heap Leach we’re taking priority, before later moving onto upgrading the processing plant. Like Bebeto, Costs would have been appreciated, but if they were shut down for the majority of Q1, releasing these figures may not draw an accurate reflection of operations.
It’s a strange one. It’s a detailed update, solid, and the key part is Robbie thinks we’re still on track for 24,000 oz per annum target bu years end. That’s enormous. Just with the long wait for news, I don’t see enough in there to plug the selling in the immediate future.
But with long term aspirations of becoming a significant producer I’m happy to lower my average here until something slaps me in the face and I begin to see red flags. I do remain very optimistic, and as predicted, increasing production to the levels that they want, is going to take time and a lot of hard work. They’ve certainly been busy and we have more assays due soon, followed by a resource upgrade.
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