Ann: Change of Director's Interest Notice, page-14

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chrisman

1,001 Posts.

192

04/03/17

11:01

Post #: 23096525

Originally posted by chrisman ↑

Thanks for that. I am a little confused though because when I compare the 2015 report to the 2016 report the stockpile seems to have decreased in size and ounces . I have compiled the following table from each of the last two annual reports to demonstrate:

Column 1 Column 2 Column 3 Column 4

1 31-Dec-16 Tonnes Oz's Cost

2 High and low grade 4,300,000 96,000

3 Marginal 1,500,000 21,000

4 Total 5,800,000 117,000 80,084,000

5

6 31-Dec-15 Tonnes Oz's Cost

7 High and low grade 4,800,000 113,000

8 Marginal 1,500,000 21,000

9 Total 6,300,000 134,000 30,160,000

Everything looks lower in 2016 compared to 2015?

Cheers.

Expand

Ahhh the trick is in the spent ore stockpile? I assume the cost assigned to this ore is quite low, and is a hang over from the Tucano acquisition. As it is fed through the mill it is slowly being replaced by freshly mined oxide and sulphide ores which are based on current costs. If I am right I wouldn't think the increase in the stockpile cost is a cause for concern.

Thoughts anyone?

Last edited by chrisman: 04/03/17

BDR Price at posting: 28.0¢ Sentiment: Buy Disclosure: Held

1 Upvote

0 Great analysis

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	Column 1	Column 2	Column 3	Column 4
1	31-Dec-16	Tonnes	Oz's	Cost
2	High and low grade	4,300,000	96,000
3	Marginal	1,500,000	21,000
4	Total	5,800,000	117,000	80,084,000
5
6	31-Dec-15	Tonnes	Oz's	Cost
7	High and low grade	4,800,000	113,000
8	Marginal	1,500,000	21,000
9	Total	6,300,000	134,000	30,160,000

Ann: Change of Director's Interest Notice, page-14

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