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0.3¢ prodigy gold nl

Ann: Quarterly Activities and Cashflow Report, page-89

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thrumyeyes

646 Posts.

22/10/15

15:58

Post #: 16231920
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Originally posted by Nabaru01 ↑

The 10,013 ounces quoted as recovered has been recovered, either as dore or measured as GIC (emphasise the word measured, either as bars in the safe, in elution or on carbon yet to be stripped). At a recovery of 99% (tails grade of <0.05g/t), this gives the quoted grade of 7.6g/t. They then go on to say a bit about the potential for lock up in the circuit (not measurable) but not too much.
Considering they treated ~41,000 t for the quarter, that they started on low grade and had a few issues on commissioning, the result is not too bad.
The lock up will not continue as it will reach an equilibrium at some stage - best to ignore it. The first quarterly is often a disappointment, especially with a high grade, small show like this. That is why they did not declare commercial production.
The real effort needs to go into getting the operation up to a 24/7 concern, nailing down their systems (particularly grade control) and drive efficiencies.
Just my thoughts

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Thanks Nabaru,

"The real effort needs to go into getting the operation up to a 24/7 concern"

Unfortunately, from my understanding there are no plans for this to happen in the near future.

ABU Price at posting: 21.0¢ Sentiment: None Disclosure: Held
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