RE:RE:Q1 productionAlbertan22 - I'm wondering if the Costerfield production shortfall was planned. In other words, I'm wondering if money was diverted away from milling to continue with the deep hole exploration.
It is my understanding that drilling costs $200/m. To drill 4 more deep holes would cost approx. $1M. This does not include the assay analysis and report as well as the DH geophysics and report.
Using a 2018 average production cost of $1148 US per AuEq oz sourced from the investor presentation, the 2800 oz shortfall on the Costerfield milling equates to $3.2M US ore process savings. It buys alot of drilling, assay analysis and DH geophysics. Todays volume on the CDN and US exchnages speaks volumes.
So, until the financing closed at the end of March/19, MND cut back on milling in order to push through on exploration on deep hole exploration. More smoke'n'mirrors exploration at the expense of the 1Q19 milling. Walks like a duck, quacks like a duck, it's stogie smoking duck looking in a 2H18 mirror. Running the same game plan.
The following questions need asking:
1) Can the Costerfield mine make up for the 30% Costerfield milling (production) shortfall over the next three quarters?
2) Will MND meet their 2019E guideance for both operations?