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St Andrew Goldfields Ord STADF



OTCPK:STADF - Post by User

Post by TedOwenson Feb 18, 2015 10:34am
192 Views
Post# 23439347

Primero Black Fox 2015 pit depletion

Primero Black Fox 2015 pit depletionTD is downgrading the Primero Black Fox Open Pit scenario...... FROM TD OVERVIEW.... "Along with the Q4 results, the company announced a write-down of $75mm to Black Fox owing to a decrease in the open-pit reserves following detailed drilling work in 2014. A lack of continuity of the high-grade lenses as well as void from historical mining resulted in a significant decline in open-pit ounces, which are expected to be fully depleted by September 2015 (likely a loss of just under 200k ounces) which we have now incorporated in our estimates." It is clear that Primero's future rests in large part on the Grey Fox South expansion and is an opportunity of magnitude for St. Andrew to capitalize on. Any major news from Hislop will shoot St. Andrew to the Moon and back bar none as Taylor in essence only a small fix while en-route to bigger and better things from the remaining land base which is largely unexplored.
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