Ann: Production at Norseman Increasing, page-5

Lots of positives, but of course, they did not include the cash position, which is likely down, though by how much is the bigger question.
No debt payments, just creditors and operating costs. No hedging, so still getting $2880 per ounce.
Looks like Scotia is going to be a pivotal source of ore, especially if it simply meets their reserve numbers (let alone out performs like they imply the southern part will), as it's the base load of the project for the next 2-3 years. Arguably, just as important is they are mining enough ore to fill the plant.


Then you have the U/G, which.... whilst still not being at it's full potential, is getting close.


I wonder if the remnant stopes will provide an added boost?
16k-20kt per month at... 5g/t = 2.6k-3.2k ounces per month is 25-30% of the ounces of production, which I believe matches the DFS.

Plant looks to be humming and just maybe able to produce upwards of the 1mtpa nameplate (at 140tph, at 100% usage, 1.2mtpa).

I guess the market still does not believe that the PNR team can pull it off? I would argue that the contractors can (even with PNRs questionable track record).