Reading the Quarterly Ore grade mined was on average 1.14 g/t Gold, this is a big improvement over last quarter average 0.83g/t. Ore Stockpiled from the previous quarter was 0.5 g/t. Roughly half of the Ore fed into the Crusher was from the Stockpile, so its going to take a few months to get the lower grade ore out of the circuit. Milled head grade was Jan 0.81 g/t, Feb 0.84 g/t and Mar 0.89 g/t. Average expected Mill Feed over all of FY16 is 1.2 g/t, so I expect the head grade to continue to improve next quarter and so too Gold produced.
Production Guidance for FY16 now 152-167,000 ounces of Gold with ASIC of 1,300-1,400.
This compares to 190-210,000 ounces with ASIC of 1,050-1,150 announced on 11th of December, so big climb down there.
"...by advancing the development of Sissingué in the development schedule ahead of the larger Yaouré Gold Project..."
So Sissingué first, then Yaouré. They are both about the same grade, just Yaouré is five times bigger.
Full scale development of Sissingué expected to commence during the June 2016 quarter with first gold expected around mid-2017.
DFS for Yaouré to be completed during the June 2017 quarter. Full scale development expected to occur by mid-2018 with construction to be completed and first gold approximately 18 months later, i.e. start of 2020.
So more work to be done that's for sure. At least management are open and have a vision of where they want to end up.
I paid 32.5 cents/share on average for PRU, so I can take a long term view.
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