Why mining rate was impacted by delays in bringing targeted stopes online?
Mine output was always a lag indicator as it remained flat for Sep 2019 qtr as the company reported " lower grade was due to stoping within the central zone ( old) to compensate for delays in bringing the western stopes online (new)" Pg7
The result was expected since the last quaterly report.
So the modified access strategy was not completed to reduce impacts on paste filling on the overall stope cycle time as the report mentioned " Once critical stope voids were filled the paste reticular system was taken down and rebuilding commenced" Pg7
Access strategy To install new stopes in South East regions 4 and 9 to provide stoping access.
To use East, region 6 and North East, region 5 to provide drilling access.
Developed stope cu tonnes Sep 2019 - August 2019 Central zone 1,289 - 4,599 JL 905 - 1,010 Region 6 East 1,291 - 668 SE 2,253 - 3,247 UVW 2,835 -1,224 West end 11,784 - 7,708 NEL 1,751 - 2,182
Total 22,108 - 20,639
Region 6 East and West end delivered meaningful stope tonnes.
Once they fix the stopes access then the estimate cu tonnes will improve hence a better mine output.
Surface paste plant was commissioned in July 2019 for both dry tailing paste fill system and wet tailing from processing plant to provide continuous filling capability into the mine.
Do we expect too much? You cannot get a higher productive while doing a maintenance job. It's unreal.
Whatever the reasons, the capex for Nifty was less than $140M since Mlx took over the project. It's a dirt cheap project.
Well Nifty is on a headline and I will see an improved trading volume.
Back to 20c please
MLX Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)