Q3 grade forecast??????? OK I'll be the first to stick my neck out. Since it has been acknowlged that Q3 production is less than desired, I think it fair to assume that ounces produced will be less than 100,000. Anything much more than 95,000 would probably not have justified an early warning.
Lets assume only 85,000 ounces are produced. Lets assume milled tonnage is 250,000 tonnes, being 50% of H1 production. Implies a mill head grae of around 10.5 grams per tonne which is a rather dramatic reductionfrom the 14+ reported for May and June.
Alternatively , lets say 85.000 is unreasonaably pessimistic and reported ounces will be closer to 92.000 ounces. Lets asume milled tonnage has been pushed to 261,000 tonnes as per Q1 when grades were also low. Suggests a heAD grade of 10.9 grams per tonne..
So ball park numbers we are looking at 11 grams for the quarter. WE know that break even is close to 10 grams so we cant expect much of an increase in corporate cash from Q3.
But more to the point a mill head equal to the reported ore reserve of 14.5 grams continues to be elusive. The promised corelation of reserve tonnage and milled ounces will be incredibily interesting.