For example, among others ..
Selinsing sulphide flotation plant has begun its ramp up production phase, during which major issues were identified and addressed through an action plan.
• New mining fleet arrived to enhance mining rates.
• Off take agreements were secured for ramp-up production with competitive commercial terms.
• The first batch of gold concentrate production of 2,000 Dry Metric Tonne (“DMT”) is ready for sale subsequent to the Q3.
• Export permits were granted to multiple buyers in May 2023 subsequent to Q3, shipments are underway.
• Q3 gold bullion production:
- 104 ounces of gold was cleaned up and poured from the gold in circuit;
- 1,400 ounces (“oz”) of gold bullion sold for $2.63 million (Q3 FY2022: 3,270oz for $6.16 million);
- Average quarterly gold price realized at $1,878/oz (Q3 FY2022: $1,911/oz excluding gold prepaid delivery);
- 2,107 dry metric tonnes (“DMT”) of gold concentrate produced containing 2,412 ounces of gold (Q3 FY2022: nil ounce
-90% recovery of rougher
-mass pull cut in half ( gold content is twice as high )
--Gold grade spot on forecast
-early Concentrate production indices on track for forecast 55,000 ounces in F2024
-balance sheet remains pristine with only modest capital costs of $2 m remaining
--working capital remains very strong covering 70% of our market cap and no debt
So, we are in excellent shape .
Let there be no doubt .......55000 ounces of gold production in F2024 will get us to fair value above $0.40 CAD