Analysis of the latest operating results 13,921 ounces were produced during 2020-Q2. My expectations were a little higher, but despite everything, I am not disappointed. In fact, I find that Robex is handling the situation very well because the consequences of the pandemic have always been under control. Several gold companies had to cease operations temporarily while Robex simply reduced the pace.
The pace of drilling activities has been reduced while the plant has been completely confined. Despite my hopes of seeing superior growth in operating activities in 2020-Q2, I must resign myself to being more accommodating. Confining a factory meant that many workers were permanently present at the site. Confining a factory means that health facilities have been added, dormitories, entertainment venues and the like. Consequently, there is reason to assume that the 600 workers could not all be present and confined. This factory operates continuously, 24 hours a day, and it is unthinkable to believe that 600 workers could live there at the same time. As a result, the factory certainly had to operate with a small workforce. Therefore, I consider producing 13,921 ounces of gold in this context to be a very good performance.
When it comes to performance metrics like cash cost per ounce sold, AISC, and administrative expense per ounce sold, I consider trying to figure it out for this quarter to be a waste of time. Considering that the ounces of gold held in reserves could not be classified as sold; that the reduced staff due to containment created accounting differences that are too difficult to explain; As the significant discrepancies in the various accounting items of operating expenses are another consequence of the lockdown, I consider all these statistics to be irrelevant for this quarter. On the one hand, there are the gold ounces in reserve which abnormally deteriorates the result of these indicators while the costs related to reagents, fuel, supplies and operating services abnormally improve the result of these indicators. In conclusion, the quality of these indicators should improve in 2020-Q3 and further in 2020-Q4.