first production, page-50

re: bmo produced more silver than this dog Thanks for you response denpal.

Regarding management quality yes I have quite some amount of looking into there...there issue of 1.5 million dollars worth of options seems a little high to me given the number of people it should take to run such a tiny operation.

My first pass at the numbers looks like this

waste production?
Don't know the strip ratio yet from the picture it seems like the resource is very shallow and they are already into it. If you know post it and I can add it with the waste rate

There fleet is 2 komatsu PC1000 excavators , a PC 300 excavator, 2 Cat D9 dozers and 3 CAT 773 trucks on a 5 day daylight only shift which is going to be a pretty expensive way to go about it given you only use your gear around one third the time.

I would take a stab that crushed the material is costing about $5-6 /t plus more rehandle with the pc300 from the crush to the leech pd

add you minproc cost and then leech pad reset cost and you got your production cost.

From a revenue stand point they proccess 400kt a year from 120 to 50 for a total input of 70g/t.

given the fluids don't reset we take 100% of this to be 28Moz per year
at $14/oz = 0.5 per gram or about $14000000 of revenue per year.

My current punt at a very very quick pass would suggest a profit of something around the $4mill mark.

At a market cap of 113$Mill it seems that the company relies on rising silver prices to become really profitable.

Don't shoot me down its just my guess on my first pass.

opinions? refinements??

Cheers,
Straight