OTCPK:SPVEF - Post by User
Comment by
touquoy2003on Jan 02, 2018 10:09pm
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Post# 27267236
RE:RE:RE:RE:RE:Nice profits at these gold prices
RE:RE:RE:RE:RE:Nice profits at these gold pricesThe mill is currently operating at full capacity with operating costs meeting expectations and recoveries at 92-94%. Gold shipments are occurring on a regular basis. Ore production remains on plan and below budget on a unit cost basis (per tonne) with more than 1.2 M tonnes exposed in the pit with less than a 1:1 waste to ore strip ratio expected in the production schedule for 2018. Suite 3083 - 595 Burrard Street, P.O. Box 49298, Vancouver B.C. Canada V7X 1L3 Telephone: (604) 689-5564 Fax: (604) 566.9050 www.atlanticgoldcorporation.com Commercial production remains on target for Q1 2018. The company expects to provide full production guidance for 2018 in January.
The share price is currently in the doldrums it seems but that is most likely because the big buyers are waiting on the LOM and production guidance and many of the players are still on holiday.
I am a long time shareholder in Atlantic Gold from the days before Spur Ventures merged with Atlantic Gold and recall an announcement regarding gold grades for the Touquoy deposit where testing had indicated grades being 10-20% higher than expected from the testwork.
Just speculating that costs are coming in lower than projected because they are getting higher gold grades than expected but only time will tell if this is the case.
A wate to ore strip ratio of less than 1-1 is certainly likely to be a major factor in lowering production costs for this open pit operation.
In Western Australia a typical waste to ore strip ratio is 7-1 so AGB's various deposits certainly stack up extremely well in that regard.