RE:Production Results Very nice results,
with these numbers stock should be at 4.
With didipio in production above 5.
We might still have a small loss for the quarter. ( bad hedges and didipio cost )
Haile :
Looking ahead, the Company expects increased gold production with continued decrease in AISC for 2020. Production in the second half of the year is expected to deliver two-thirds of the year's gold output at significantly lower AISC than the first half. The variability in production and costs relate to mine sequencing whereby mined and processed grades increase as the year progresses. The fourth quarter is expected to deliver the highest production while the first quarter is expected to have the lowest production for the year.
The Company continues to enhance open pit operations by accelerating mining activities. The Company expects to have 15 Komatsu 730-E haul trucks in operation in the second quarter to support the mining activities. For 2020, the Company will bring forward mining of the Haile and Mill Zone phase 2 pits, both previously scheduled for mining in 2021. With enhanced open pit operations, the Company is further optimising the Horseshoe underground design to incorporate a larger expected resource and longer mine life, plus reviewing the mining method to potentially improve project economics. To achieve this, portal development may be deferred to start in 2021.
Wahihi : ( still some gold from wahihi end 2020 )
Looking ahead, mining from Correnso Deeps is expected to be completed in the first quarter with processing temporarily shutting down at that point. Mining of narrow veins in the Correnso area will continue for the duration of the year with this ore stockpiled ahead of processing in the fourth quarter. Following completion of processing of this ore, the process plant will be shut down temporarily and is expected to restart in the second quarter of 2021 with ore sourced exclusively from Martha Underground. The Waihi operation is expected to produce approximately 12,000 ounces of gold in the first quarter of 2020 with an additional 8,000 ounces in the fourth quarter. The Waihi district study is currently underway and expected to be completed in the first half of 2020. This preliminary economic assessment will provide longer-term production rates, costs and schedules related to the Waihi District, including Martha Underground and WKP.
Macraes :
Looking ahead, the Company expects steady production and flat AISC from Macraes while plans to increase the mine life are progressing well. The Company is currently working on a pre-feasibility study in relation to an underground mine at Golden Point and expects to complete this study in the second half of 2020.