GREY:LRTNF - Post by User
Comment by
goldanalyston Apr 01, 2021 6:38pm
![](https://assets.stockhouse.com/kentico-cms/0340-00/images/Sprite.svg#id_Post_Views_Icon)
340 Views
Post# 32925472
RE:RE:RE:RE:RE:Great Update
RE:RE:RE:RE:RE:Great UpdateExactly if there was anything nefarious going on Sprott would have cut these guys loose in a New York second. This is just growing pains unfortunately. I am giving them until 2022. They maintain that things will get better and I for am willing to extend them some grace:
"Realized head grades for the first quarter were lower than anticipated due to ramp-up related issues including unplanned dilution in the first longhole stopes blasted by the Company and the feeding of low grade stockpile material to the mill to facilitate uninterrupted mill ramp-up during commissioning. The mining issues are being addressed and corrected by the Company, are viewed as symptomatic of ramp-up, and are not expected to persist in the future. The head grades realized in the first quarter are not representative of management’s expectations for steady state production."
"At the end of the first quarter, the Company has 12 active ore headings and is currently developing stopes within the heart of the reserve where greater definition drilling supports higher grades consistent with the life of mine plan. Underground sampling of ore from development headings is showing an improvement in grade that is consistent with expectations. As adjustments to mining practices begin to positively impact operations and stope inventory improves throughout the second quarter, mine production and head grade are expected to improve and continue trending positively for the balance of the year."