GREY:CLGRF - Post by User
Comment by
Bottleson May 24, 2013 2:06pm
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Post# 21437955
RE: Costs were over $2,000 last quarter
RE: Costs were over $2,000 last quarter "Any company that has costs over $1,200 could be in touble.
CRJ was roughly $2,000 in Q1 and the question is "can they get down under $1,600 any time soon""
Mat,
Seabee is located in a remote area and must utilize ice roads over the winter months to transport supplies. As such, Q1 expenses are always on the high end as this is where the bulk of supply expenditures are encountered. Otherwise, and Q1 aside, costs are closer to $950 on average. With shaft expansion efforts completed and other cost saving moves in place, the next few Q results will tell the story as to those cost savings. My best guess is that CRJ can get overall costs under $900 per ounce produced where Q1 will always be the exception. Costs aside, the bigger question is what the average gold selling price will be.