RE:RE:PVG: Q4, 2019 estimates Actually Loves, I suspect 11 cents is on the optimistic side, perhaps 3 cents MIGHT be achievable. Each of the last three quarters has provided approx 90,000 ounces from mill heads of around 9 grams. Another Cleo might raise its head at any time but I'd say the odds arent in favour of this. So lacking any breakthru in understanding the geology , 9 grams is the most we can expect going forward. Of course ounces comes from tonnes and grade. Q3 report contained a subtle warning that they are really struggling to get the mill tonnage beyond 3600 tpd. This obviously could be a mill or mine problem. but there is no reason yet to suspect that this is a mill constraint. When a mine is having difficulty providing the daily tonnage that a mill needs, it can either admit it cant do it , or it uses an increasing amount of low grade in the daily feed.
I still suspect that there are now a large number of stoping blocks that have been developed but appear to be only 2 or 3 gram material. However poor the economics, this material does provide additional cash flow , as well as hiding the severity of the operational problems.
So IMO POG is a relatively small part of the big picture. It will be really interesting to hear the excuses on Wednesday if my thoughts are validated.