Free cash flow and repayment of loan in fiscal 2017Average gold recoveries are expected to increase to 80% from current average recoveries of 55% from flotation. The CIL Project is expected to assist the operation in generating free cash flow later in fiscal 2017 and allow for repayment of the BISA Loan in full by the end of fiscal 2017. Unitary costs are expected to be positively impacted through the second half of fiscal 2017 as increased gold production is realized from CIL production.
CIL project and higher grades from LMZ should greatly bring down costs and increase revenues going forward.