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Rye Patch Gold RPMGD

Rye Patch Gold Corp is a Nevada based, Tier 1 mining company engaged in the mining and development of quality resource-based gold and silver mines and projects. The firm operates in one segment, which is the Exploration and Development of Mineral Properties. The firm operates through two geographical areas, Canada and the state of Nevada in the United States of America. The company's primary source of revenue is from the sale of gold dore.


OTCQX:RPMGD - Post by User

Comment by ts9222on Jun 04, 2017 1:47pm
122 Views
Post# 26322105

RE:RE:RE:output per day overview

RE:RE:RE:output per day overview>> They will declare victory once the 6000 monthly target is sustained <<
Depends on how you define victory. I would consider declaring commercial production as one important victory.

Industrial Alliance report says
"Commercial production will be achieved when the mine reaches 60% of the 75Koz p.a."

0.6 x 75k oz/yr = 45k oz/yr
Divided by 12 months = 3750 oz/month

May production was 3094 oz
Aren't they already very close to the commercial production rate? Two or 3 months sustained at 3750 oz and they can declare commercial production.


Fullplate wrote: Monthly reporting obscures the weekly production numbers, and that avoids scrutiny and reaction that would occur if there were any weeks where production declined. The May numbers reported were a bit low, but if weekly production is now reaching 1000 ounces, there's a chance to get near the annual target. My guess is that they will reach the 6000 ounce monthly production target by year end, but not in time to hit the annual production target.  They will declare victory once the 6000 monthly target is sustained, and that will certainly satisfy me if it happens by early fall. We will know a lot more on all of this after they report on June production.


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