My comments on the 2023-Q3 results These financial statements not only meet expectations, they exceed them.
In the statistics table, in the "4 QUARTERLY RESULTS" section, all the important metrics are there.
Operating data shows 605,604 tonnes of ore processed, 10% more than the previous quarter, and 25% more than the comparable quarter, 2022-Q3. The constantly evolving mining plan and good preparation for the rainy season have certainly contributed, and suggests that this performance could become the norm. The next quarters will tell us.
Concerning the recovery rate, it is 92%. Since the plant started in 2017, the maximum value was reached in 2021-Q1 with 92.8%, while the average is 87.7%. This recovery rate is exceptional, given that it is comparable to that of companies processing gold grades greater than 2 g/t.
Concerning the average gold grade processed, it is 0.75 g/t. This metric is the consequence of all calculations, with a view to achieving economic efficiency. By reducing the cut-off grade, it REDUCES the average gold grade processed; REDUCES transportation costs to the disposal site; REDUCES mineral waste; INCREASES mine life; ...to conclude with an exceptional production cost of $838 CAD per ounce sold. This balance between revenues and costs demonstrates that gold content is not the ONLY parameter to observe, but that it is part of a whole, and that economic efficiency is achieved through a combination of choices and decisions.
Concerning the selling price of gold, it is $2568. This metric is not the most important; it is dependent on the delivery schedule; refining workshops; good luck and bad luck; and many other factors. Nevertheless, the price of gold on the market was traded at a higher price in 74% of the days, which allows me to come to the conclusion that this is an ordinary performance, considering that Robex also uses a tool to maximize the sale price.
In conclusion, these financial results exceed my expectations and Nampala continues to do what is expected, by contributing financially to the development of Kiniero, ROBEX'S FLAGSHIP PROJECT.