GREY:VITFF - Post by User
Comment by
HoneyBadger77on Jul 21, 2024 8:25pm
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Post# 36142093
RE:RE:RE:Narrowing down the cast of characters
RE:RE:RE:Narrowing down the cast of charactersExactly mdjbrown, I think it's pretty clear they weren't over stacking and infact were understacking,
Regarding Project 250, you probably weren't around / watching VG shares at the time but essentially that concept was based on using non-crushed ore (referred to as 'fines' following blasting). They thought was that they could dump these 'fines' on the pad and produce more gold. But something happened and the production seemed to have noticeably dropped in the subsequent quarters and VG management dropped the Project 250. You can look into closer if you wish, I'm just going from memory here.
At around the same time as Project 250 commenced I found a very detailed engineering document that was written by a former Newmont Mining engineer that outlined the impact of placing inconsistent ore on the pad and all the things that needed to be monitored and done to mitigate the negative impacts of such. And there was a lot of things that could go wrong if not properly understood. I e-mailed that document to JM for his awareness but never heard a word back, even though he would usually reply to my other e-mails. But I found it interesting how they suddenly stopped the Project 250 around that same time. So I believe the adding of 'fines' had something to do with the otherwise unexplained dropped in production at that time but if it did, shareholders were never inforrmed about it.
HB77