2019 PRODUCTIONI am having trouble understanding this. Anyone want to give their views or some sort of explanation.
On 2018-11-30 Kirkland provided a NR that stated the grade at Fosterville was averaging 35g/tonne for Q4 2018.
“On a quarter-to-date basis, the mill grade at Fosterville in Q4 2018 has averaged over 35.0 grams per tonne, well above target levels for the quarter.”
So they have just started getting into the Swan zone and already stating grade is 35g/ton.
Yet on 2018-12-11, Kirkland forecasts approximately 30 grams per tonne during a 2 year period when they should be well into the Swan zone. Are they being ultra conservative, especially using the word “approximately”
Production at Fosterville is then targeted to grow to 500,000 – 540,000 ounces in 2020 and 570,000 – 610,000 ounces in 2021, with grades over this two-year period expected to average approximately 30 grams per tonne and throughput to increase in 2021 to approximately 1,700 tonnes per day.
I think production may come in much higher than they forecast, and to give themselves an out, they will say, production was based on 30 grams per tonne, which may be a low-ball estimate.