KCN (ASX) Ann: Chatree Gold Mine Update

Originally posted by doncamilo: ↑

Let's name it as it should be: "CHATREE RECORD PRODUCTION UPDATE"

It's around 770 ounces a weekly pour.... It's confusing because some months have 4 Thursdays and some have 5... Look at a calendar
The 5th pour for October was just a couple of days over on the 2nd November... So 1 month and 2 days was 3,800 which was a recordand excellent.... It means production is up about +10 %. From 700 ounces a week to 770 due to increased throughput.... Grade was still 0.45% rubbish, so as soon as they process higher grade it's going to be excellent... Surprised it wasn't $1.40 today.

it looks all perfect.... everything is on track & with this extra couple of million in Gold revenue they probably don't even need a loan with only 1 1/2 months until plant #1 is finished ?

i think we exceed 120,000 ounces next year..... i suspect Ross has under promised and he will over deliver if they process anything near 1 gpt.

anyway lets see ....
What else can stop Ross ?

take a look at this beautiful photo from today.... refurbishment of plant 1 "A large crane in the background"

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HERE WE GO Grasshoppers !

Current Scorecard producing @ 770 ounces of Gold a week from Plant #2 using 0.46 stockpiled crap :

Future outlook using high grade Quartz lease etc,etc:
1,540 ounces a week from Plant #2 using 0.92 gpt -> 52 weeks in 2024 = 80,080 ounces from just this plant

Old Plant #1 : Let's Assume that the older plant, Plant #1, rated at 2.3 million tonnes per year , only processes at nameplate and doesn't exceed like newer plant #2 is currently exceeding nameplate easily & doing 3.4 mtpa ( rated at 2.7 mtpa)

That would be about 300 tonnes per hour processing compared to Plant #2 currently processing 400 tonnes, or 75%

75 % of 770 ounces would be the equivalent of producing 570 ounces a week using current stockpiles crap.

1,140 ounces a week from Plant #1 using 0.92 gpt --> 52 weeks in 2024 = 59,280 ounces from older plant #1

Conclusion:
Processing 0.92 gpt next year should give us 80,080 + 59,280 = 139,360 ounces of GOLD ! GOLD GOLD !

So........ Old Fox Ross the Boss only needs to find 0.92 gpt ore and he is going to blow the 110,000-120,000 forecast away !

So......... Old Fox Ross the Boss only needs to crank old plant #1 above nameplate and it's going to blow the forecast away.

If they find anything above 0.92 gpt then KCN is going to go Silly ! Silly, Mad, Crazy insane to +$3 just like my African lady TIE did.

Do you see why i've been so critical of them wasting money these past 6 months on all the bull$it is because we have an unbelievable opportunity in-front of us and blowing anything other than a small buyback to reduce placement disaster dilution is total insanity !

I'll be positive going forward, i'm not sure if they listened, but i tried my best !

PS:
I don't think we want them having a Bank loan , otherwise the Thai Chatree Daily fun festival carnival might just take there partying to another level and burn even more..... Just Like giving your wife the credit card & she will always find some rubbish to buy.

Never forget, a 30c dividend will only cost them $77 million to pay, or about 77,000 ounces of Gold at current prices / profit margin !