RE:RE:Fourth quarter unpeeledFrom the M D & A...all-in-costs for the BL production.
Bonanza Ledge Mine Project
During the year ended February 28, 2015:
· Bonanza Ledge Mine commenced operations;
· Earnings from mining operations was $2,271,122; and
· Total sales for the year were 16,865 ounces of gold at an average price of $1,419 per ounce. The Company mined 1,049,826 metric tonnes of waste and overburden and milled 80,214 dry metric tonnes of Bonanza ledge ore at an average head grade of 8.40 grams per metric tonne at 92% recovery at an average operating cost of production at $1,278 per ounce and all in cost of $1,604 per ounce.
During the three months ended February 28, 2015:
· Total sales for the three months ended February 28, 2015 were 6,896 ounces of gold at an average price of $1,491 per ounce. The Company mined 20,844 metric tonnes of waste and overburden and milled 27,122 dry metric tonnes of Bonanza ledge ore at an average head grade of 12.37 grams per metric tonne at 95% recovery at an average net operating cost of production at $545 per ounce and all in cost of $847per ounce;
The Company decided to place the Bonanza Ledge Mine under care and maintenance and as a result recorded total impairment cost of $10,802,324.
IMO, a very expressive, no-nonsense report by professionals. Bravo again.