TSX:SGR.UN - Post by User
Comment by
marketmineron Jun 27, 2007 7:30pm
164 Views
Post# 13009675
RE: I''mmmm sorry, soooo sorry
RE: I''mmmm sorry, soooo sorryI must say I miss read that .... but it would have been very easy for Dale to mention , when I asked... how is production going? ..... he said 500T / day but that included development rock..
If it makes you happy ..."Sorry I missread the NR" and thinking that SG1 production was ramping up to 800T / day.
But does not change the fact that this same NR states that they intend to be producing 800T/ day by the end of the second quarter.
Does not change my frustration level, or my lack of willingness to jump into the market and buy more. I'll just sit tight with my PP position.
Now if they do achieve the 800T/day soon then there are 6 months left this year.
With 400 T / day out of SG1 that would be about;
400 x .20 x 180 = 14,400 oz
with 400 t/ day out of the SA with improved grade say .4 oz/t average.
400 x .4 x 180 = 28,800
Combinded that would be 43,200 oz over the next 6 months, plus whatever they produce this quarter + the first quarter .... which appears to be minimal as per the MD&A:
"The Company shipped 595 oz. of gold during the quarter at an average market price per ounce of $CDN 763
and recognized the associated revenue."
If I see about 10,000 oz come out of this quarter I will be plesently surprised and revise my "NO" to " Maybe" Re the 50k k oz for this year.
Considering the 500T /day has been ongoing since the long hole NR approx, and the dilutive development rock offseting the higher grade SA ore, 2nd quarter oz would be equal to
500 x .2 x 180 = 18,000 oz.... Like I said I would be happy to see an improvement to even to 10,000 oz....
We wait and see on the next financial.... will it be earily or on the final day again?