RE:nice post on another blog"The production update was interesting as it was almost identical to last month with a little more production from Marmato and a little less from Segovia. This trend should continue to the end of the year if they are to meet there year end guidance. If Segovia production can remain this high and they can meet their Marmato guidance, however, they have a good chance of beating the high end of their production guidance.
One risk, is that higher Marmato production and lower Segovia production in the back half might mean higher costs but that is somewhat reflected in their AISC guidance."
Method, the ratio of Segovia to Marmato production was lower month to month from July to Aug.,
However, from Q2 to Q3, the ratio is actually
higher.
Q1 Segovia 25,999 oz, Marmato 5,490 oz, ratio = 4.73
Q2 Segovia 31,884 oz, Marmato 6,345 oz, ratio = 5.02
July Segovia 11,731 oz, Marmato 1,852 oz, ratio = 6.33
Aug. Segovia 11,461 oz, Marmato 1,990 oz, ratio =5.76
There could have been a monthly variation, but combined 3 month Q3 ratio is higher. The financials will show Q to Q and not show month to month.
"
Outlook With a total of 83,301 ounces of gold produced through the first seven months of 2016 and an expectation that the trend in monthly production from the Segovia Operations will continue for the balance of the year"
Their Q2 Outlook before the Aug. production news release says the trend in Segovia will continue for rest of year. But hasn't the trend been up for Segovia?
In addition, the capex in second half will be spent to increase movement/production at Segovia. More high grade from Segovia = good.
The ratio from guidance looks lower because Marmato production so far is a bit behind guidance.
But guidance can be revised and the actual numbers are more accurate.
ThurstonHowell5 wrote: https://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/gcm-to-gran-colombia-gold-corp