Yes there is more;
The real standout in the March 2015 quarterly is the admission (by way of some form of production guidance) is that production of gold to June 2015 will be between 17koz and 19koz. Using the median of 18koz it is difficult to see more than 150kt of ore being processed at a reduced grade of about 2.4-2.6g/t gold to produce the required ounces. Whilst RED may exceed these figures they have not given any comfort with the news of no ore being mined in March 2015 quarter despite the 2nd lowest wet season rainfall figures (see graph below). By contrast the process plant throughput rate was good. News about the remaining capacity of the HDPE tailings dams and when tailings dam 3 & 4 would come on line would be useful.
As in the 2012-2013 era it is apparent that the process plant is more than capable & recoveries have been good; however the supply of ore to the plant is the major factor in protecting positive cash flow...see next post.
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- Ramp up to production. 2013 style
Ramp up to production. 2013 style, page-11
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