OTCPK:PGMFF - Post by User
Comment by
Megamisteron Jul 12, 2021 9:13pm
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Post# 33534132
RE:RE:Info
RE:RE:InfoPGM's view is likely that the AGM 12 days ago, was not "silence", despite no questions being taken. Nonetheless PGM's "non communication" as to the mine's Q2 production results is of concern.
PGM is definitely not a "Rubicon" scenario because they did their homework with the drill results and the phased , rather frugal, approach to re-tooling the old Madsen mine and getting it back into production.
If as professed and the opening of the east ramp, going from 12 ore headings at end of Q1 to somewhere near 26 ore headings at the end of Q2, we should see some "respectable" production numbers in the 6.3 g/t range for May and June at 800 tonnes daily with a 95% recovery. However, there is (will be) some 4.3 g/t results for the month of April as a flow through leftover from the disappointment of Q1's dilution.
Still expecting a management update as to the status of commercialization, whether achieved, close to achieving or if more time needed and reasons why.
One item of concern to me being a relatively new PGM shareholder is Zone 8... this so called "potentially transformative" ore body was first discovered (mapped) from drill results in 1969.
If so "potentally transformative" as alledged why did Claude Resources decide to sell the mine in 2014, even if gold prices were low at the time?
I continue to have confidence in PGM's management and the phased approach being followed to opening up the mine .
That being said, confidence can quickly wane in the absence of information for any extended period of time.
My sentiments and 2 cents worth at this juncture...