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AMREP Corp T.AXR


Primary Symbol: AXR

AMREP Corporation, through its subsidiaries, is a holder of land, developer of real estate and homebuilder in New Mexico. The Company operates through two business segments: land development and homebuilding. The land development segment offers for sale both developed and undeveloped real property to national, regional and local homebuilders, commercial and industrial property developers and others. Activities conducted or arranged by the Company include land and site planning, obtaining governmental and environmental approvals (entitlements), installing utilities and storm drains, ensuring the availability of water service, building or improving roads necessary for land development and constructing community amenities. The homebuilding segment offers a variety of home floor plans and elevations at different prices and with varying levels of options and amenities to meet the needs of homebuyers. The Company focuses on selling single-family detached and attached homes.


NYSE:AXR - Post by User

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Post by mattbighamon Sep 07, 2021 8:58am
168 Views
Post# 33818004

Spectacular intercepts. Operations update significant.

Spectacular intercepts. Operations update significant.

Operations Update

Underground development and production are proceeding as scheduled with mill throughput ramp up to demonstrate mill nameplate capacity of 18 tonnes per hour (400 tonnes per day) to occur in the fourth quarter 2021. In underground operations final long hole blasts are scheduled at the Bellekeno mine in September 2021. YTD through August 2021, the Bellekeno mine has produced 13,468 tonnes of 842 g/t Ag and 11.7% Pb. Bellekeno ore extraction will cease in the third quarter of 2021 and mill feed will transition to the newly developed Bermingham and Flame & Moth mines. At Bermingham, first production ore was delivered (from the 1150 level undercut) in the latter half of August. At Flame & Moth development of the primary ramp is now beyond the first production level access (835 level) and crosscutting to the ore is progressing with initial Flame & Moth ore production anticipated in the fourth quarter of 2021. 

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