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Agreed, Iceman (the quoted 350tpd quote was from someone else by the way).

It's always the RNSs such as the last one as to why some are always skeptical. When they say the Gold Processing plant "Once operational, expected to be early next year" - they've never once been on time.

I see Maidit has flipped sides....

I thought my figures were quite optimistic for year 1, considering they're still yet to be operational. If people read it properly, it was quite an optimistic post saying they just need to trim a few costs and it would be profitable!

Which is exactly why the market isn't "sleeping"...

We only have the numbers in front of us. The rest is speculation until they reach "350tpd" (quoted below - I can't find that number anywhere).

As you said yourself, maybe we need more clarity from the BoD and a proper Q&A session

Early averages? It’s the averages they’ve quoted in their presentation.

Do they have their own processing plant yet to reach those quoted tpd?

I didn't say anything about getting to 28tpd overnight. I literally quoted the RNS about building up to that. The RNS states it would aim to reach those levels "with the incorporation of more development faces and a second shaft". I haven't seen anything yet other than a focus on one shaft. Have you? They quoted 3-5 tonnes aiming to 28tonnes. I gave an average ball park of 10tpd for the first year.

Again, the spot price, can only go off what they managed to agree. 90-95% is typically for selling gold bars. This is different for ore (note 20 - https://cfcanada.fticonsulting.com/incaone/docs/Affidavit%20of%20Edward%20Kelly%20filed%20June%203%2C%202024.pdf)

Regarding the "admin costs" - it included circa $500k fixed costs related to salaries and wages. We we never given a breakdown of exactly what the other 900k was, so it's difficult to presume these would just go without knowing what they are.

"The batch had an average grade of 15.6 g/t Au and has been sold to a local gold ore processing plant in the Arequipa region." - https://www.lse.co.uk/rns/NTVO/operational-update-tesoro-gold-mine-e855tbbtbkuh7vr.html

I'm literally just using the figures NTVO have provided.

EGPT - I'm just going with the figures that we have been provided in RNSs, that's all we can do..

Iceman, how does it miss the whole picture? Which bits are incorrect based on the information we have available?

They were targeting 3-5tpd initially, "building" to 28tpd - https://www.lse.co.uk/rns/NTVO/operational-update-tesoro-gold-mine-be7bupjck8aoi7b.html

The same RNS literally said "the measured gold recovered will be priced at the international market spot price less between 20-30%. The processor is targeting recovery rates of around 90% Au."

It has potential, but needs to significantly reduce costs to get anywhere. Something you all seemed to happily ignore.

Gold sales per oz (4140 @ 75% spot) = 3,105

Grades: 12-15g/t (0.42-0.54oz) = 0.48 oz

Rate (initial 1-3tpd, aiming to 25tpd full prod) = 10 tpd (lets say avg. tpd for first year)

Recovery rate per RNS = 90%

Revenue per day = 13,414

AIC per day (2025 avg. per other miners in Peru: 1,750 per oz) = -8,400

Profit per day = 5,014

Profit per annum assuming full year = 1,800,000

Admin costs ($1.4m - 2024 accounts) = -1,400,000

Finance costs ($1m - 2024 accounts) = -1,000,000

Finance income (433k - 2024 accounts) = +433,000

Project estimated P&L 2026 = -167k

This doesn't include loan repayments

EGPT, the market understands the deal. It is a good deal for NTVO. But, the question still remains as to whether they can get producing Gold at rates that will break even. The figures have been provided in multiple RNSs. If, and it is a big if, they manage to scale up production in 2026 then it can do well. They are not yet subject to JORC.

To be fair to SteveE60, that was when the price was 4.5p....

;)

Ironic. Literally need "traders" at these levels to get the SP moving anywhere. If everyone followed the tips of LTHs here they'd all be locked in at 5p/1p/0.89p (levels at which we were told categorically they wouldn't get any cheaper). We were ridiculed for saying it would reach 0.30-0.40p levels but here we are.

But I finally agree, it is unlikely to get much cheaper than 0.30 - 0.40p if mining commences before Christmas. Related party dealings giving strong hints.

True, as always got to be in before “news”.

Take it easy

As Sausage said - if wifes are in, we all know first hand that they won't want any backlash from them at home ;D. Got to earn those golfing hours! Must be confident they'll be resuming.

I've assumed the road issue has been fixed based on the fact they commenced rehabilitation of the onsite camp...

Might join you at this rate Golf. Maybe won’t be the hated villains

Where is the $1400 from? Some well established Peruvian miners reporting AIC of Gold at $1835 & $1980 respectively in Peru.

https://www.goldfields.com/pdf/investors/quarterly-reports/2025/q3-updated-results-2025.pdf?1

https://www.hochschildmining.com/media/b4vp021m/1s_h1-results_final.pdf

Thanks MrH. Agreed on the below, but sales price was previously agreed at Spot - 20/30% so looking at sales price circa $3k. The cost per ounce for a well established miner in the region is currently $1600 per oz. Not trying to be controversial, taking a nicer approach after previous abuse :-)

Agreed sausage :-)

If discussing the company bores you, then don’t create an account to discuss the company on a forum…

Stick to speaking to a robot about your investments.

It’s a chat forum about the company, iceman. Some are here to discuss that and not just narrate on how big the trades are.

I debate figures and scrutinise RNSs, because, despite holders brushing over the fact, it’s 99% down.

I kind of like to understand why there’s 1.4m of expenses, for example, that only 500k are documented for.

If you don’t like it there’s a filter button.

Downagain… it’s more aimed at those that gave abuse a year ago when we were unhappy at the company. It’s now 99% down so the “I told you so” is already there 😁

Hahaha Helx invested since March 2024 at 45p!!