GREY:VITFF - Post by User
Comment by
MVargason May 11, 2020 5:02pm
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Post# 31014005
RE:Information is Golden
RE:Information is GoldenThe most important info from today's news release is not the Gold produced ounces, but the ounces in the gold stacked on the HLP.
786,984 tonnes stacked at grade of 0.86 and 76% recovery = 16,500 oz. If stacking continues at this pace on a monthly basis, then we can expect monthly production of 16,500 oz.
Therefore I expect May production to be at least double April production or 13,500 oz and 16,500 oz in June with no increase in ore production.
To declare CP, Victoria only has to achieve 60% design production and sustain it for at least 30 days. 60% of 210,000 oz = 10,500 oz/month. We are probably at that rate now if indeed, Victoria poured another 5 bars on May 6. Certainly we will be producing at a rate of 10,500 oz/month before the end of May which would pave the way to declare Commercial Production before the end of June.
Looking really good!