I quote from the January 202 PR:
“The increasing grades within the extensions of the Bjrkdal deposit at depth to the east mark a significant development in the multifaceted efforts to lift ore grades produced from the mine and will be a major focus of our production in the years to come. The Main, Lake and Central zones are all open to the north-east and those drilling results are showing higher grades the deeper and further to the east we drill. This is very exciting, and this drilling will continue to be one the primary exploration focuses over the course of 2022.
“As a result of these excellent results, a mining concession application has already been submitted to the relevant authorities in order to extend the mining license holdings to cover this eastward extension of veining.
The
mining concession application should be issued very soon. By the end of Q3 2023, the head grade at the mill should increase by 50% to 100%. The tailings facility was expanded a couple of years back. Evidently the grades are getting higher at depth and breadth.
This should put MNDs annual Au eq. production north of 160,000 ounces starting 2014. With the Au hedge disappearing on June 2023, this will save MND $12M US per year.