We are back up to 5 rigs at Morila, in the stock head interview I recently referenced, Doc Mike said a couple more rigs were about to arrive. That will make 7 rigs operating continuously at Morila.
The reason I make mention of this is because there was a very telling interview done by stock head with the CEO of WAF late last year (link below). WAF is a company our management reference quite a bit, it is a company we aspire to emulate. In that interview their CEO put their success down to all the drilling they do, resource control, understanding the geology. Asked about their success he said “....our resources and reserves have been reconciling very well, I think that’s a big part of it.”
That is why all this drilling we do is so important, and is why Doc Mike is so confident our targets will be met.
The reason our production is forecast to massively increase in the coming months is because of better grades.
The last Activity Report (Q4’21) showed the achieved grades of 0.33 for Tailings, 0.81 for Pit 5, 0.73 for Viper for an average grade of 0.58.
As production was similar for the Q just ended, I’d assume the grades were similar.
Viper has a quoted JORC average grade of 1.15g/t, the Morila pit 1.5g/t
They’ll be getting into the fresh rock part of Viper now which will have better grades, those blended with the higher grades from the super pit will increase production significantly without having to increase the plant throughput.
Also our recoveries will come back up to the historic 91% now the tailings have finished.
I believe this is why they have so much confidence in achieving their guidance. They’ve done the homework with the drilling, they know what grades will be going into the plant and so can be confident with their forecasts.
delete the spaces between stock and head
https://stock head.com.au/resources/west-african-resources-boss-richard-hyde-on-why-its-the-place-to-be-for-a-new-gold-miner/?utm_medium=email&utm_campaign=*%20Morning%20Newsletter-11-16-2021&utm_content=httpsstockheadcomauresourceswestafricanresourcesbossrichardhydeonwhyitstheplacetobeforanewgoldminer&utm_medium=email&utm_campaign=Morning%20email%20Wednesday%20November%2017&utm_content=Morning%20email%20Wednesday%20November%2017+CID_5f333af870be5efe471ca579d27ab669&utm_source=Campaign%20Monitor&utm_term=West%20African%20Resources%20boss%20Richard%20Hyde%20on%20why%20its%20the%20place%20to%20be%20for%20a%20new%20gold%20miner
(20min delay)