GREY:GYPHQ - Post by User
Post by
red911on Feb 29, 2012 1:38pm
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Post# 19605834
CEO...
CEO... Feb 23rd... Mr. O'Neil concluded: "We are encouraged with the improvements in operations we have been able to achieve in the last few weeks and believe we will be in a position of sufficient financial strength to complete the ADR, as we work to improve the leach process and pregnant solution builds up on the heap leach pad. Clearly, we have to balance the sale of loaded carbon with our need for sufficient carbon to process through the ADR as it comes on-line. Importantly, the heap leach process is now moving toward design capacity. From the time the ADR comes on line, we anticipate that there will be an eight-to-12-day period for the stripping process and conversion to dore. Once converted, the gold dore will be shipped to a refiner where it is assayed and refined for determination of gold content and sale value. Our focus continues to be on achieving positive cash flow as soon as possible."