Hi Holdonman,
Cash Position,
At end of June quarter cash position was - $13,583,000.00au
30 September -In addition to the $8.278 million cash & ABM also
had an additional $2.191 million in gold - total- $10,469,000.00au.
So therefore cash position reduced over Sept quarter by - $3,114,000.00au.
$3,114,000 divided by $1,600.00 au pog per oz = 1,946 oz of gold if sold to equate to being square for last quarter.
what's locked up in circuit? IMO double that amount,
4,000 oz locked up in circuit adds up with head grade x total tonnes
throughput less tailings grade & coyote plants gold recovery.
Coyote gold process plants gold recovery of 99%, tailings grade
& head grade has been independently verified as being correct.
Because of the independent verification of above details, & as the coyote gold processing
plant had been completely refurbished it was therefore totally empty/void of gold prior of commissioning commencement.
This dictates the gold in question is residual having been absorbed into gravity traps
(low lying internal areas pumps & sumps ) of the process plant & compressed while
being crushed inside of the mill ending up in/behind liners etc..
This a once off gold saturating internals of plant & external sumps cycling period commissioning event, so therefore after saturation occurs total gold
recovered & poured will correlate with feed grade after subtracting the only
lost gold being - tailings gold grade per t
.
THERFORE if coyote had been saturated prior to this quarter, and we fed plant with
the same grade ore feed & volume -(total tonnes) , we would have recovered this
quarter an extra 4,000 0z x $1,600.00au=$6,400,00.00au & instead ABU's cash flow
being down $3,114,000.00au for the quarter we would be up $3,286,000.00au & we would all be happy little fuking vegemite's.
So if we comprehend ,then don't worry as profit can be further enhanced next quarter
as you can safely assume coyote's gold traps have been saturated by now,& the average
head grade ore (feed) will be higher g p/t than the previously quarter,
as we are not diluting with low grade ore-(used in coyote commissioning )
& would be feeding the plant with consistent higher grade ore,
some sourced in very high grade & volume from our
Golden Hind deposit.
ABM’s financial position at the end of the Quarter was $8.3 M in cash with an additional $2.2 M of gold in hand (sold subsequent to end of quarter).
The Company has no debt.
The company re-negotiated its facility with the ANZ bank which remains undrawn with exception of the bonding and guarantee facilities under which ANZ has provided guarantees against the environmental bonds lodged by the Company.
The new facilities include a revolving working capital facility of $4 M a $4.5 M bond facility, a $2.5 M
guarantee facility and an electronic pay-away facility of $1 M, all with a maturity date of 30 June 2016.
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