GREY:RDEMF - Post by User
Post by
wiseyoungmanon Apr 04, 2017 3:59pm
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Post# 26075391
Expect a NR any day now
Expect a NR any day now Similar to Roxgold, commercial production is declared after the fact effective on the 1st of a month for reasons I cited in earlier posts. A Company needs some time to put together the financial numbers and mill metrics after March 31. Roxgold published its NR on October 4 declaring commercial production effective as of October 1, the beginning of the next quarter.
Since the Company has not put out any NR on not achieving this target, which would be expected immediately, I apply common sense and logic and believe they will follow industry practice and issue a NR any day now.
However, how good those numbers are is another question. Slater back last fall indicated that the Company would produce 8-10K ounces in the last quarter of 2016 during the pre-commissioning period however only produced about a few thousand. At that time, he stated 2017 would yield 70K ounces however I would expect that to be less considering commercial production was delayed 2-3 months.
I am also expecting the Company to provide some information on the status, and success/failure, of satellite drilling which has been ongoing since last fall but zero information. This is also key for the stock price to increase significantly.
GLTA