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11.5¢ calidus resources limited

Ann: Quarterly Activities Report and Quarterly Cashflow Report, page-31

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124 Posts.

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28/07/23

05:28

Post #: 69026914
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Originally posted by Dazedandconfused: ↑

The way I read it.... head grade is 0.79 g/t with a strip ratio of 4.1 so the grade of the ore is 3.24 g/t.

The updated AISC guidance to $1900 - $2100 is a 6% improvement which by my calcs should provide a head grade of 0.84g/t. (If the strip ratio drops to the forecast 3.3 the head grade is 0.98 g/t which brings the AISC down to the $1700 mark)

Guidance is 65,000 to 75,000 ozs FY2024. I think 70,000 ozs is a comfortable assumption and represents the base case.

Pirra IPO in a few months and things improve greatly if the Haoma stockpiles return an average JORC of 4g/t (which will substantially lower the AISC). Felix is early stage exploration and could surprise.

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The grade of the ore is the 0.79g/t after some amount of dilution. The strip ratio is waste to ore and does not impact ROM grades. The only thing that can increase the grade is more grade. The talk of dilution management has been removed from recent announcements. Lower strip ratio should improve costs.

CAI Price at posting: 19.0¢ Sentiment: Hold Disclosure: Held
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