RE:RE:RE:2018 production?AlfTanner,
I went back and made some revisions to my production model for the EPP project. My original mine production numbers were based on Table 16.22 of the P&E Mining Consultants technical report for underground production and on Table 16.31 for open pit production. But then I realized that this new management is NOT playing around running the plant at 1700 tpd like their consultant recommended, but instead they ran the EPP plant at 3070 tpd last quarter. So they are running the plant full bore at capacity!
The contractor mining company hired to work the open pit produced 2 quarters of scheduled 43-101ore production in one quarter at Lavrinha. So this means that in Q3, they could already be down to stage 2 of the open pit and into higher grade ore running 1.57 g/t but with a much higher strip ratio of 9.67. With 47,000 tons of high grade underground ore trucked in from Pau a Pique, total gold production in Q3 could be as high as 18,348 ounces. Gold recovery was an impressive 93.6 percent.
So the bottom line is that the profit for the quarter depends on how much extra ore the contractor produces at Lavrinha. If they produce just enough to keep the plant running at capacity then profit is $12.6 million USD or 41 cents per share. if they produce the same amount of ore as last quarter, then profit would be $11.0 million USD or 35 cents per share.