SVG 0.00% 2.2¢ savannah goldfields limited

Ann: First Gold Pour from Agate Creek Gold Project, page-232

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  1. 23,156 Posts.
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    I have just had a look at LNY's drill results & location of the high grade assays ( Ann 14th Jan 2019) and here is my revised guesstimate of LNY's possible revenue to 30th June provided the company cherrypicks the ore:

    IMO, mining commenced at hole # CCGC19 and should extend to include adjacent high grade area of about 70 M x 30M x 4M deep;
    8400 CuM or 21,000 tons of ore @ 2.5 ton/CuM & at an average grade of 15 G/T This would yield LNY $8.3 mil revenue based on its current toll
    contract.

    This target ore body contains areas like 3 m deep @ 32.81 G/T AU , 4.5 M @ 91.7G/T & 5M @ 27.94 G/T.
    Timing:
    At an average throughput of 25 ton/Hr, it would take 840 hours to process 21,000 ton which would take us out to early June.

    In the interim, drilling may uncover an extension to this rich vein, IMO.

    The toll contract is for 100K tons so the company must be confident in having adequate high grade ore to meet this. Previous resource
    report cites 89K tons @ 6.1 G/T which, IMO, may improve on grade & volume as mining progresses.

    PS: All of this IMO only & investors should consult a licensed financial advisor before making any investment decision
    Last edited by moorookamick: 03/05/19
 
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