Very Positive News ReleaseFor example, among others ..
Selinsing sulphide flotation plant has begun its ramp up production phase, during which major issues were identified and addressed through an action plan.
• New mining fleet arrived to enhance mining rates.
• Off take agreements were secured for ramp-up production with competitive commercial terms.
• The first batch of gold concentrate production of 2,000 Dry Metric Tonne (“DMT”) is ready for sale subsequent to the Q3.
• Export permits were granted to multiple buyers in May 2023 subsequent to Q3, shipments are underway.
• Q3 gold bullion production:
- 104 ounces of gold was cleaned up and poured from the gold in circuit;
- 1,400 ounces (“oz”) of gold bullion sold for $2.63 million (Q3 FY2022: 3,270oz for $6.16 million);
- Average quarterly gold price realized at $1,878/oz (Q3 FY2022: $1,911/oz excluding gold prepaid delivery);
- 2,107 dry metric tonnes (“DMT”) of gold concentrate produced containing 2,412 ounces of gold (Q3 FY2022: nil ounce
-90% recovery of rougher
-mass pull cut in half ( gold content is twice as high )
--Gold grade spot on forecast
-early Concentrate production indices on track for forecast 55,000 ounces in F2024
-balance sheet remains pristine with only modest capital costs of $2 m remaining
--working capital remains very strong covering 70% of our market cap and no debt
So, we are in excellent shape .
Let there be no doubt .......55000 ounces of gold production in F2024 will get us to fair value above $0.40 CAD