re: Ann: CGA Announces an Update on the SAG M... More delays announced in getting the sag mill up and running. This is now expected to be operational in January 2012.
In the meantime production is running at around 120-130k ounce pa, or around 60% of rated output.
Given that CGX is hedged for around 55k ounce at around $USD860 in 2011 and 2012 and that all up cost (including admin and exploration) was running at around $USD900/ounce at max operating capacity, CGX will probably only be break even at its current higher cost per ounce operation until the sag mill is back up.
I wonder if the sag mill broke down because they were operating it at over its rated capacity. There is still no mention about what they are expecting to get from the insurance on the mill.
loki
re: Ann: CGA Announces an Update on the SAG M... More delays...
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