RE:RE:RE:RE:Gold pricepowerman wrote: Zeke - We have sold 40% of our monthly gold production at (max) $c1936 / oz,
Not quite correct. The percentage of production affected by the sold call options at C$1936 is closer to 25% for 2020 and 2021.
Per Victoria recent news release, crushing and stacking resumed in early March. So in less than one full month, 888,000 tonnes were stacked on the HLP. At the stated grade of 0.84 g/t and recovery of 76%, the quantity of gold to be recovered from this less than one month of production is : 888,000 x 0.84 x 0.76 / 31.1 = 18,228 oz. This production was during a still quite cold month and during ramp up to Commercial Production.
If they can average this production for the remaining 9 months, 2020 production will be 10 x 18,228 + 10,608 (Q1) = 192,888 oz.
So, 190,000 oz in 2020 + 210,000 oz in 2021 = 400,000 oz of which 100,000 oz affected by call options = 25% of production.