Banks Island Gold Ltd BKSLF

RE:I wonder where.......

[miningman]

Well, I cant speak for ambnt, but I'm still here number crunching trying to determine if its worthwhile increasing my 7 cent stink bid, and I'm afraid the numbers still don't look too attractive. With 2609 ounces reported as payable from the smelter, ( less 25% payable to the initial financiers, that's approx. 1956 ounces at say $1250 gold and 1.25 exchange or $3.056 million for two months. It has previously been reported that the monthly site costs are real close to $1.5 million, so we have finally broken even over two months. Of course we did zero development during Dec and probably January, we have additional mining equipment to procure, and it appears that the upper TEL zone will be mined out by April , so development rates will really have to pick up if the mill is to fed in April and beyond , so no I don't think I'll be buying just yet. And the biggest red flag is that over the last two months, ROM feed to the DMS plant was only 5.6 gpt. This compares to 7.7gpt in 2014. So despite dilution falling from 255% to 216% (which is an improvement but still leaves an awefull lot to be desired), mine head grades dropped by 27%. If there were any reason to believe that future stoping blocks would have higher head grades, this might be regarded as a temporary aberration but the PEA clearly showed that Bob and TEL were the best two ore zones, so we will need extreme improvements in all operational areas if we are going to get three successive months at say 60 or 70 ounces per day.. call it 2000 ounces per month.