TSXV:CAV.H - Post by User
Comment by
mining_pays_my_billson Apr 02, 2014 2:40pm
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Post# 22401722
RE:Financing behind us. Whats the next news cycle
RE:Financing behind us. Whats the next news cycleI was hoping it would be updated SRK report, but the news release today said the decision on manganese production is still a ways off, which means an accurate report can't be completed until that decision is made. So, failing that, I think the MD&A gave us some hints:
The next announcement should be construction completion of the copper circuit and the beginning of commisioning activities. MD&A said construction completion target date is now end of March 2014 (already passed), and they also indicate they have started gathering ore from surafce (open pit) to use for commissioning, at 88.2% of their target rate, and they've started gathering subsurface ore as well, though not as successful (18.2% of target rates). And I quote:
However, as of the date of this MD&A, the latest available project schedules provided by MMB, which are currently under review, show that the date for mechanical completion of the copper circuit has been delayed until the end of March 2014 as a result of piping and instrumentation, with the target date for the production of first copper by June 1, 2014 unchanged. The target date for the mechanical completion of the cobalt zinc circuits is now scheduled for the middle of June 2014, with first production scheduled for the end of July 2014.
For the 12 months ending December 2013, the underground mining team achieved 18.0% of its target with the late start of the mining contractor, TK Mining and the unreliability of the Dosco underground miners being significant obstacles.
For the 12 months ending December 2013, the surface mining team has achieved 88.2% of its ore mining and 73.8% of its waste moving targets.