TSXV:MMY - Post Discussion
Post by
nozzpack on Feb 09, 2023 10:31am
7000 ounces Stockpiled and paid for
The startup of the FP is going to be very profitable .
The reason is that during Q1 of F2023 ( July -Sept 2023 ) , a total of 270m RC drilling over six holes was drilled at the Selinsing Pit 4 and Pit 6. A total of 10 batches of RC samples comprising 317 samples including QAQC control samples was dispatched to assay laboratory.
All samples received the assay results.
The drilling results at Selinsing Pit 6 had confirmed the continuation of the mineralization to the down dip direction and the drilling results at Pit 4 confirmed that the high-grade zone is extended to the south direction.
Carbon-in-Leach (“CIL”) recoveries were generally low, but the laboratory flotation response was highly satisfactory with over 90% recovery reported.
The additional ore mined at Selinsing Pit 4 and Pit 6 will be processed in the flotation plant that is planned for commissioning in December 2022.
Total ore stockpiled for the FP in Q1 was 105,000 tons which at a conservative 1,5 gm/ton contains about 4500 ounces of which @95 % recovery will produce about 4000 ounces as Concentrate .
More sulphide mining undoubtedly continued in Q2 ...Oct -Dec /22...which may have added another 4500 ounces or more to the FP ore stockpile .
So, the FP had lots of mined and stockpiled ore to begin producing gold concentrate and more mining undoubtedly has been taking place this quarter ..
From all of this , it seems obvious that management have set up the conditions under which the gold production from the FP is going to be above expectations at costs well below expectations.
The above is a summary of info provided to me by the diligent research of one of our posters whose contribution I gratefully acknowledge
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