Further to my previous post, page 3 of the July Quarterly states:
" During the quarter 1.363mt of pre-strip material was moved as we work towards uncovering high grade ore within Kavanagh and Emily Star pits. In addition, a total of 248kt of low grade ore was added to Long Term Stockpiles. All stockpiles are carried at the lower of Cost and Net Realisable Value (NRV)".
If you want to see how this impacts the cash cost, check the detail shown on page 4 of the previous (April) Qtrly. The top few lines in the table, showing how the Mining Cost of $1.32 is calculated.
HGO has stated clearly how they account for this stock-piling, they've stated clearly that they are still stock-piling, but they've stopped showing that level of detail in the Cash Cost calcs in the reports.
There is a credit built into the Cash Cost that is no longer shown in detail.
Wait for the next quarterly, and check cash at start/end of quarter, and net change of debt (if any).
As I said before, I'd like to get back into this stock. But I also like cold hard facts.
HGO Price at posting:
8.8¢ Sentiment: None Disclosure: Not Held
