My understanding, also after discussions with Management, is a 30% full cycle yield of the processed product.
If 500,000 tonnes of ore is mined, there is ~30% waste, leaving 350,000 tonnes to be processed. 350,000 tonnes becomes 105,000 tonnes of bitumen at a 30% recovery rate. (350,000 x 30% = 105,000 tonnes). Presumably, this is the figure GRV will try to improve on.
General Discussion, page-137
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