OTCQX:RPMGD - Post by User
Comment by
Fullplateon Jul 11, 2017 1:50pm
95 Views
Post# 26456452
RE:RE:Start-Up Issues or Management Issues
RE:RE:Start-Up Issues or Management IssuesAs far as July production being impacted by the cracked wash vessel, you are probably correct. However, since reporting will now be on a quarterly basis, we will only know if they break down quarterly numbers by the month when they are released in early October.
Also, they still said commercial production will be reached by the end of this quarter. That will require a very good month of production - likely September. The full quarter could possibly be lower than the original plan but at the end of the quarter they could be meeting targets. That will allow Rye Patch to announce the good news of finally going commercial, which would overshadow mediocre quarterly results. It also would explain the lack of monthly production reporting.
If management can get Florida Canyon to commercial levels by October, and keep production ramping up to 6000 ounces by December, I will be satisfied. Hopefully the cash flow generated by Florida Canyon at that point will allow for the other areas to be put into production over a reasonable time period without further dilution. If not, these year-to-date shortfalls at Florida Canyon will prove to be very costly.