OTCQX:DMMIF - Post by User
Comment by
pimrieon Jan 18, 2014 4:36pm
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Post# 22107834
RE:50k
RE:50k
Baily2, while I share your skepticism given the long road to where we are, DMM's problem has mainly been getting to the high grade veins. They have pretty consistantly produced between 4-5K oz's per quarter since 2010 (outside Q4 2012 as they had to dewater). This has been with overburden grading 3-4 g/t. Once they hit the 12 g/t material that would immediately get them to 15-20K oz per quarter with NO CHANGES to existing operations or capacity (been running at 450 t/day very consistantly for over 2 years). This gets them well over the 50K ozs per year with costs of about 1/3 of what they are today.
So, the 400 million dollar question is....IS THERE REALLY 12 G/T MATERIAL THERE!. If there is I believe we are off to the races very soon and if there is not this will be another CSI.to in no time. In my humble opinion, no CEO would put an additional $1 million of his own cash at risk if he did not know the grade was there.
Looking forward to the next press release with baited breath.