80m x 40m x 1.2m x 2.8(SG) = ~10700t (1.2m thickness used, might be thicker) Average grade 11.5g/t = 3956oz (sum of gram metres divided by sum of metres) Recovery of 90% (realistic, perhaps higher??) equals 10700t @ 11.5 * 90% = 3560 oz @ 1100 = $3.9m Using the historic figures (9g/t and 95%) gives 2941oz or $3.2m. I reckon 50m of capital development is close (3m rounds is ~18 shifts) so the mentioned 'set to start mining' and 'first ore expected in April' to GA seems about right if they get a jumbo onto it straightaway.
In respects to Burgundy, sounds like more good results but bottom up mining means lots of development prior to getting any stoping tonnes out. Also that would mean hauling from the bottom of the mine - ie a long way! Lastly having ELN's first level developed means they can get stoping ASAP. As it's close to the surface the mining fleet can move more tonnes compared to say the bottom of the 'main' Wiluna mine where the trucks have a long drive to the surface.
nk what do you mean about GUP?? If thats the hedging/senior notes I thought they got rid of that with the $108m cap raising?? If not, what is it?
DYOR
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