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Lion One Metals Ltd V.LIO

Alternate Symbol(s):  V.LIO.W | LOMLF

Lion One Metals Limited is a Canada-based exploration company. The Company is engaged in the business of mineral exploration and evaluation and is primarily focused on the acquisition, exploration and evaluation of mineral resources in Fiji. The Company owns 100% of Tuvatu Alkaline Gold Project, which is located approximately 24 kilometers northeast of the town of Nadi on the island of Viti Levu in the Republic of Fiji. The area surrounding the Tuvatu gold deposit and resource area is covered by approximately three-square kilometers of special mining lease (SML 62), with the broader project area covered by approximately 13,613 hectares of special prospecting licenses (SMLs 1283, 1296, 1465 and 1512), covering the balance of the Navilawa caldera. The SML 62 provides rights for the potential development, construction, and operation of mining, processing, and waste management infrastructure at Tuvatu. The Company holds over four exploration licenses (SPLs) for the Tuvatu properties.


TSXV:LIO - Post by User

Comment by nozzpackon May 16, 2024 6:29am
122 Views
Post# 36042756

RE:RE:RE:Financials

RE:RE:RE:Financials

You assume only development grade ore will be mined which is not true....grades began increasing in early May, and mineralized ore will flow through the mill.

I stick with 7000 ounces for this quarter

Xxxx
Subsequent to the quarter ended on March 31, 2024, the Company’s mining and milling operations have improved significantly. For the month of April, the Company milled 9,406 tonnes, 314TPD at 3.4 g/t Au with 75% recovery rate to produce 765 Au oz.

The gold production for the first 10 days of May is approximately 450 oz, at an average run rate of 400 TPD and grade of 4.8 g/t Au.

The installation of two new blowers at the end of April and in early May is expected to improve recoveries in the CIL circuit with recoveries of over 80% achieved in early May.

Record gold production is expected at Tuvatu for the month of May as a result of higher grade mineralized materials, higher mill throughput, improved recoveries, and the start of long hole production at the mine.

 
Sustained throughput of over 400 TPD is now possible at the mill due to operational improvemen
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