RE:RE:RE:RE:RE:RE:Do or die quarter yanide5,
You are absolutely correct that Tucano Q4 2019 guidance is 55,000 to 59,500 oz gold.
Great Panther has 5 open pits scheduled for production in Q4, Urucum South, Urucum East, Tap AB, Tap C, and Duckhead.
Worst case scenario is only 4 out of 5 open pits produce and the remaining ore has to come from the long term stockpile of 2.58 million metric tons of ore grading 0.73 g/t, so under the worst case scenario, the average ore grade processed drops to 1.75 g/t. In this scenario Tucano profit is only $48 million USD compared with the $30 million USD that I am expecting for Q3. If all 5 open pits were in production the average ore grade processed would be 2 g/t for total production of 57,500 ounces of gold with a profit of $58 million USD for Q4.
So for me, the issue is should I be upset with Great Panther management if they only make $48 million USD in profit in Q4? Or should I insist that they make their 55,000 ounce number and be upset because they didn't make another $10 million USD in profit? When $48 million USD in profit represents a 60 percent quarter on quarter increase in mine profit from Tucano?? Of course not!
I would rather that James Bannantine prioritize worker safety over profits. If there is a problem with the pit slopes on Urucum South, that needs to be fixed. That said, my sense is that Great Panther will be able to make up for 1 of 5 open pits being out of service with extra production from the other 4 pits.