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0.3¢ antilles gold limited

Ann: Las Lagunas Production Update-PGI.AX, page-6

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Paul100

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06/04/16

23:58

Post #: 17440726
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Originally posted by bdell ↑

While I was initially disappointed that the recovery rate (47.8) was well under the 51.5% they claimed to have achieved in Jan & Feb the outcome is really quite good. The breakdown on recovery rates month by month shows that they have gradually raised both CIL and Flotation results up to and now above forecasts (50.9% in March, Target was 49.8%) but also keep in mind that in March they were feeding ore of very nearly 4 g/t - considerably higher than the average of the remaining ore, 3.6
From a financial point of view I would think they have shown a profit of about US$2.8m for the qtr. The gold price for the June quarter however is looking like it could be up by about $100 to $1200 or so, couple this with a consistent recovery rate of say 50.5% and an extra 2,000t of throughput and PGI could easily show a profit of more like US$3.5m this quarter.

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Bdell
The majority of their production for the March and June quarters is hedged at 1070. Next half about 50% and after that they are unhedged.
If the price of gold can stay above 1200 for the next few years this will add close to 1.5M extra profit a qtr once the hedge is complete.

PGI Price at posting: 9.8¢ Sentiment: Hold Disclosure: Held
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