RE:RE:RE:Q1 productionAlbertan22 - Slight correction on the ore processing savings depending on using cash cost vs all in cash costs.
Using a 2019 annual average production of (51K + 41K) / 2 = 46K AuEq oz, the average quartely production would be 46K / 4 = 11.5K AuEq oz. The 1Q19 shortfall is 11.5K - 7555 = 3945 AuEq oz.
Using a 2018 all in production cost of $1148 US per AuEq oz, sourced from the investor presentation, the 3945 AuEq oz shortfall in the Costerfield milling operations equates to $4.5M savings. Using the average cash cost ($790 + $920) / 2 = $855 AuEq oz, the savings is $3.4M which is close to my original calculation.
To conclude, this is another planned poor production quarter for Costerfield. Money was diverted to the continuation of the deep hole exploration program.