RE:RE:RE:RE:RE:Caribou Update next weekQuite often, the Q&A sessions of the CC's are revealing, because they go a bit further than the very conservative language they use in official news releases, MD&A,a nd the "CC script". For example, they virtually said nothing in those documents or in the CC script about Caribou, other than say an update was forthcoming in the coming weeks. However, in response to a Question, the most important thing the CEO said was:
"the last remaining piece effectively is the zinc recoveries. And we're getting the throughputs, we are producing salable cons, so it is obviously getting the zinc recoveries a little bit closer to design."
I've pointed out before, and I still believe that, according to their strict definition of commerical production, (70% of design capacity and saleable cons), they have achieved those metrics. All you have to do is look at the Feb news release and do simple math. In the above quote, they confirm they are now getting the mill throughputs, and they just want to get closed to design zinc recovery. They could still continue to work on improving recoveries even after declaring commercial production, but management has chosen to be conservative in declaring commercial production given the mine's history of metallurgical issues.
We also have to remember that they just closed a financing a few weeks ago. Before the syndicate of investment bankers finalized the deal, I'm certain they needed to make sure everything was on track with Caribou. Yes, it's taken a bit longer than we all had expected, but all indications are that they are on track!!!