Operations First gold pour was achieved in the 3rd week of October 2016 and practical completion for the plant refurbishment was achieved by both the SMP and E&I contractors in November. During the quarter, Blackham continued to ramp up Stage 1 production. Quarterly gold production totalled 8,773oz with 4,894oz produced in the month of December. Management have now declared commercial production from the Matilda/Wiluna Operation
Crushing and grinding throughput rates increased through the quarter which coincided with an increase in the mill feed grade from November through to December. The gold plant has been commissioned on a mixture of historical stockpiles and lower grade Matilda open pit ore. The mill head grade progressively increased over the quarter as the open pits deepened but only a small quantity of Golden Age was processed during the quarter. Most of the Golden Age development ore mined to the end of December (grading 4.9g/t) was stockpiled for processing and as such the mill feed grade profile is expected to increase over the March quarter.
The high grade Golden age (grading 4.9g/t) was stockpiled ready for processing - what happened there and why couldnt they add to the stockpile by mining Golden age over the Jan - March quarter or did it just run out. OK they said they are having difficulties but the report makes you believe they commisioned the mine on low grade ore and the next quarter it was going to improve but it didnt low grade and low production
Doesnt add up and where is the AISC - Yet to be convinced seen to many blue sky stories GLTA
BLK Price at posting:
40.5¢ Sentiment: Sell Disclosure: Not Held
