RE:Any one notice the jump in gross revenue again? Good startAvclair that would put them on a pace for an increase to 1,500 oz gold for Q2 but I think it all depends on which combination mill feed they will have for Q2 as the choices have increased. For example there was no mill feed from Santa Fe (new mine 4) during Q1 as they wait for the permit to build the powder magazine (blasting materials). They also had new production from Macedo Project (23 %) This is new to the mill feed (mine 5).
They increased the high grade feed from San Francisco to 38 percent in Q1 which was an 8 percent increase from last quarter which was most likely the reason for both gold and silver grade increases, but increased feed from Florida NW with the higher manganese. So we will have to see what combination of the 5 mine locations they use for Q2 (Mina Real, Florida NW, Santa Fe, San Francisco, Macedo Project)
The total volume of production at the mine during Q1 was 18,128 tonnes, grading 2.3 g/t gold and 265.18 g/t silver. 31% of volume was produced from Tajos Cuates, 8% from Macedo, 23% from Florida and the remaining 38% from the San Francisco Project Subsequent to the clean-up of the old dump material exploration activities at Santa Fe was on hold during Q1. The Company has continued with the process to obtain permits for a powder magazine at Santa Fe.
During Q1 exploration work resumed in the Macedo Mine area with development of cross cuts and working faces. The work has been able to identify future mill feed.
| RESULTS | Q4
(Mar 2013 - May 2013) | Q1
(Jun 2013 - Aug 2013) | Q2
(UP TO Sept 2013) |
| Tonnes Processed | 17,773 Tonnes | 16,976 Tonnes | 5,623 Tonnes |
| Gold Grade | 1.43 g/t | 2.30 g/t | 3.07 g/t |
| Silver Grade | 258.07 g/t | 265.18 g/t | 212.70 g/t |
| Gold Recovery | 91.42 % | 93.81 % | 94.69 % |
| Silver Recovery | 56.08 % | 51.03 % | 48.13 % |
| Gold Produced | 745 Ounces | 1,179 Ounces | 525 Ounces |
| Gold Sold | 733.84 Ounces | 1,161.24 Ounces | 517.20 Ounces |
| Silver Produced | 82,704 Ounces | 73,859 Ounces | 18,510 Ounces |
| Silver Sold | 80,223.32 Ounces | 71,643.10 Ounces | 17,954.45 Ounces |
| Gold Equivalent Produced | 2,161 Ounces | 2,342 Ounces | 835 Ounces |
| Developed Meters | 1,055 Meters | 949 Meters | 391 Meters |
| Samples Taken | 9,174 Samples | 9,564 Samples | 2,799 Samples |