Post by
miningman3 on Sep 24, 2011 7:32pm
Do the maths
Recent press release , reporting production to the end of August , shows 8579 tons has been milled. Previous press release , reporting to end of June , shows 5547 tons milled todate. Simple arithmetic shows therefore 3032 tons procesed over July and August ( 62 days ) or less than 49 tons per day!!!
The most recent pres release alludes to " 83 tons per day for THE DAYS THE MILL OPERATED" This is not a conventional method of reporting but lets analyse this. From the previously computed 3032 tons for July / Aug, sbtract the 1632 tons that was milled in July ( press release dated aug 22 ) and we have exactly 1400 tons processed in August. At 83 reported tons per day , this means the mill ran for 16.86 days , or down time of 15 days!!
Similiarily , recent press release reports 461 feet remaining before the BK decline hits the orebody. End of June press release reprts 585 feet remaining. Simple arithmetic again , 124 feet advance over 62 days, or 2.0 feet per day!!!!!!! This iis appalling. I would expect a minimum of 10 feet per day and 14 being a reasonable expectation. At two feet per day , this will take another 8-9 months to complete.
Reported head grades todate are 0.254 ounces per ton....... a long way off the historical 0.53 ounces reported in every press release. The good news is that if management ever gets its act together, tonnage through the mill can be doubled. If they can get the milled grade upto even 0.35 ounces , there would be another 35% increase in poured ounces but in order to support all this mining productivities will have to improve by 500-700%.
Contrary calculations , using the same values in the press releases are welcome
Comment by
itaintmuch on Sep 27, 2011 2:36pm
Looks like somebody has been doing just that. 52.5k offered at 95 centsBPM 8.5 0.90 · 0.95 52.5 23,900 0.95 0.90 0.95 +0.05
Comment by
silver300 on Oct 06, 2011 7:03pm
I am glad they are taking it slow. Why take the valuable finite amount of metal out of the ground at these low prices?
Comment by
itaintmuch on Oct 13, 2011 12:04pm
yes, of course. Any time in the next 300 years fellas