GREY:DRGDF - Post by User
Post by
shermandrockon Nov 08, 2013 3:59pm
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Post# 21890067
There is a lot to like with the Q3 report
There is a lot to like with the Q3 report
1) October production = 29,514 of 39% of the entire Q3 production.
2) New shovel being commissioned in Nov
3) Southern pit road currently being constructed that will allow for decreased time and distance to mill
4) Mill time availability increased....yep takes time.....learning curve
5) Metallurgy % recovered increased above expected
6) Zone #2 being mining incepted this week. Grades above 1gt. Feed will be 20%.
7) DGC has pelnty of cash in the till ........no need for additional financing
8) DGC has $15M in unsold gold .....yep...can be sold adding to cash balances.
9) Mining staff learning the routines. Will result in efficiencies.
10) Sure there are others......not bad though from a quick glance of the MD & A.
Yep, DGC is just learning how to do what it is they will do for a long time.
Kinks? Of course, each start up presents it own challenge. In this case, getting the trucks 1) loaded efficiently and 2) from point A to point B in the most direct manner will have a considerable impact on costs.
Kindly look at the Co presentation, these dudes have a plan to manage the grade that is second to none.
I fully expect them to achieve max capacity in due course.
In the meantime, the best we can hope for is continued progress in the right direction.
The time to buy is when there is doubt and uncertainty. Today's revision of the 2013 production away from 270K is just such an opportunity, IMO.
As my good friend Cramer (who I do not know and have never met) would say: BUY! BUY! BUY!
Yep, that is my $0.02