RE:My Shutdown Comment Sooo.... some input for what it is worth.
- The company continued to mine and mill despite COVID. However, as they do every year with Chinese New Year, they had a break.
- The concentrate was shipped post-COVID Back office showdown
- Anticipate production for Q2 and Q3 to be similar to previous quarters
- Towards the fall, expect the company to start increasing production
- They were limited with the previous mining license (total mining TPD & therefore mill throughput)
- They could increase mill throughput by 2500 TPD at Mill 1, and take back their 2000TPD mill to process ore (currently leased to 3rd party)
- They could use their 1200TPD mill as well.
- In all, they could increase throughput by approx 3500TPD (double) up to approx 5700 TPD (max) quite easily, as this is underutilized/not utilied.
- I assume they have to increase their fleet to accomplish above.
Bottom line here is that they are profitable at current throughput. They now have a new mining license for 10 years that allows them to ramp up production. They have current mill capacity to do so (double current throughput). Production will increase. They are also hitting ASL 33M if I am not mistaken, and that level has higher grades in pit.. They also have the north UG license and will produce 2g/t there..
They will produce more in the coming quarters. They will become more profitable. They will garner interest for the elusive HK listing or a buyout considering their maturity and licenses, and with Gold being the best investment in the coming years.
B