RE:RE:Majestic Gold Corp. Reports Second Quarter 2015 Results Doesn't this just define MJS?
"The Company Continues to Make Progress in its work on the implementation of the Grade Control Program. However, de Company does recognize the implementation process is taking more time than expected to complete and realize Previously the full benefits of the program" The bad, is obviously MJS is running in place with grade.
- I'd like to know what % of the pit have assays and have been populated in the new mine plan database, and when they expect to mine the higher grade areas.
- I'd like to understand the amount of ore diverted to a waste site vs. processes, as we see throughput is much lower then normal, and how long it is expected to continue with lower throughput.
- I had expected they would be moderately higher g/t, around .45...
The good, obviously:
- At .42 grams per tonne, they are moderately close to breakeven with the cost controls put in place.
- At .42 g/t, their cash costs are $1135. When they get to .84g/t, at current throughput, Cash costs would be $567, among the lowest in the sector. Get to their 1.25g.t average and it is reduced signficantly again...
- Their cash position is decent at $9M. At this rate, their burn rate is minimal.
Hopefully shareholders get a shareholder update around the AGM date (june 11th). MJS seems to be running in place, perpertually on the cusp of better times, but always seeming to disappoint. At least they are consistent.
All said, I like the new management commitment to cost control, honesty and doing things right the first time. It's a departure from Rod and shysters...
Talk to you in the fall unless something significant happens!
B