RE:RE:RE:RE:Something does not add up hammer161 wrote:
Typical oversights by the pumper crowd GE. Don't worry- the next ounces don't have a chance of being mined for a profit. All they did this year was cherry pick that really small pit floor. To get more they will need pit wall push backs which mean lots of tonnes of waste before any tonnes of ore OR they need to go underground at greater cash costs.
Semantics, Hammer, Semantics.
"Phase 1 test mining at the Bonanza Ledge open pit has been completed."
So, what now? Push back the pit walls and hope that the mill will have feed to restart in June? Or, is that it, and Phase 2 test mining at Bonanza is on hold...until God , Gibson and Gill knows when?
"During 2015, the mill processed 28,936 tonnes,...resulting in 11,162 ounces poured". That "during 2015" likely included in-process feed for part of December and possibly March also. And it's now over...until when???
"A series of smaller-scale, high-grade, low-capex operations will be of prime consideration to the current team."
Right on!!! However, smaller scale than Bonanza Phase 1 would of necessity mean smaller ounces...which means smaller revenue...and smaller profits, further depressing the share price and making much-needed financing extremely unattractive to prospective punters.
Of course, as long as there's enough money to pay salaries and overheads, then the drills will turn, cort samples will build up and, God, Gibson and Gill willing, gold will soon hit Sprott's prediction of $2,4000 (U.S.) in 2015.