OTCPK:PGMFF - Post by User
Post by
Digger0144on Mar 19, 2021 3:11pm
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Post# 32839610
Declaration of Commercial Production
Declaration of Commercial Production Commercial Production Commercial Production means, and is deemed to have been achieved, when the concentrator processing ores, for other than testing purposes, has operated for a period of 30 consecutive production days at an average rate of not less than 60% of design capacity or, if a concentrator is not erected on the Property, when ores have been produced for a period of 30 consecutive production days at the rate of not less than 60% of the mining rate specified in a feasibility study recommending placing the Property in Commercial Production. Outlook for 2021 With the steady progress of mining and milling performance throughout the ramp-up period toward the design production rate of 800 tonnes per day, the Company currently anticipates declaring commercial production at the PureGold Mine in Q2 2021. Inaugural production and cost guidance for the balance of 2021 will follow shortly thereafter.
When they release this information it will be very important to take note of the actual production number regarding percentage...as you can see...that number will be anywhere from 60% to 100% of design namely nameplate capacity....after that grade...grade...grade.
All the Best!
Digger0144