July to October Financials First, my apologies for my previous post whose misinterprertation was a result of my first flash read thru cobined with hope springs eternal that we have entered the high gradce phase.
So, for the 4 month period of 2022 ( July to October ) we have ...
356.7 KG **392.1 rmb/gram =
139,862,000 rmb in revenue And for the same 4 month period of 2023 we have ..
273.1 KG ** 463rmb/gram =
126, 445 ,000 rmb in Revenue......a decline of about 9.5 % versus 2022 We have two months left in 2023 which, at 70 kg per month average sales, equates to
another 140 KG of sales for November and December. Assuming the most recent stated POG of 472 rmb /gram , we would add 140 KG ** 472 rmb/gram
which equals another 66,000,000 rmb .
So, for the last half of 2023 , our revenues will be 126,445,000 + 66,000 ,000 =192,445,000 rmb. This gets us very close to 2022 revenues for the last half of 2022 . This is of course driven by higher POG prices offsetting declines in grades due to the new benches having not yet reached their forecast grades , as partial stripping of low grade waste rock was still the case
This assumes that grades in November and December have not declined from 0.54 grams per ton of the first 4 months of 2023 and that the POG will not increase from Octobers average
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increased from approximately RMB374.3 per gram in 2021 to RMB392.1 per gram in 2022 and increased to RMB455.7 per gram in August 2023 and further increased to RMB471.9 per gram as at the Latest Practicable Date;
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. based on our management accounts for the four months ended 31 October 2023, our ore mined volume, ore processed volume and gold sales volume during the four months period amounted to approximately 800.5 kt, 599.7 kt and 273.1 kg respectively, as compared to approximately 677.4 kt, 662.0 kt and 356.7 kg respectively for the four months ended 31 October 2022.
Our ore mined volume increased by approximately 18.2% during the four months period as compared to the corresponding period in 2022 while there was a decrease in our gold sales volume in the four months period by approximately 23.4%, as compared to the corresponding period in 2022 due to the decrease in gold production as a result of the decrease in gold grade;