ADT 0.76% $3.98 adriatic metals plc

Ann: Quarterly Activities Report & Cashflow, page-13

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  1. 157 Posts.
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    @ mxdtrader Read the text in the quarterly again: the table states "ore" milled. This by definition means material exceeding cut-off grade. Furthermore under the heading Processing it states "Plant operations will continue to process higher grade material". Have a look at Figure 2. It shows development of cross cuts at the top of the stope fully in ore. There is no reason to believe this development ore is low grade material. Anyway, my calculation was for 1% Zn material, which is not "ore". Even at that grade the recovery is poor. Anything higher grade converts in terrible recovery. Let's hope they know the problem and attend to it. But once again, why can we not get full disclosure? Initial metallurgical performance of treating polymetallic material can be expected to be poor. It would however be comforting to get more details and evidence that management is on top of things. Alas, not with Paul.
 
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