RE: MGMT UPDATE. Q4 2012 for Steady State? Terry:
Excellent update on the continued transition for BRD. See also the comments alluded to Kerry Smith (notice any significant Haywood activity recently?) on the Mineweb article.
Of course the Yahoo brains trust do not understand (must be pretending for bash and buy reasons) the time that it takes to make these changes. e.g. What equipment "spread" was assumed in the NI 43-101? The recent update suggests the substitution of smaller (buckets) in order to reduce dilution. Reduce bucket size suggests more (haulage) cycles to to deliver the 800 tpd target.
Thus there trade-offs for every "optimization". The stopes inventory (target) seems extremely conservative; but I guess WD is still, "de-risking" the production. The question is how many stopes are in the present inventory and how long would it take to get to the 30.
In my experience, grades are assigned by round and mining activity (pilot, slash, backslash & bench, see mining methods in OBSOLETE NI 43-101). In addition, a change from care and maintenance suggests a change in production personnel. Thus the timing of the personnel changes are interesting.
I welcome the focus on C147 by the interim CE. This will de-risk the mill feed.
BWDIK? This shows that WD is prepared to take the heat and delay the 25k Au OZ to 2013. However, once the geology team starts to fire on all cylinders, we may see an example of, "under promise and over deliver". Cause that is the ONLY remedy available to a CEO banished to the penalty box.
GLTAL-GLAP
Cheers
Stanley