DRM 0.00% 33.0¢ demetallica limited

Ann: Quarterly Activities Report, page-22

  1. 2,291 Posts.
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    I disagree. The middlings have not been accounted for in the past quarter accounts.

    "The Company’s gold-on-hand position does not include the gold currently contained in the copper gold Middlings inventory".
    "Negotiations for the sale of the copper gold Middlings product estimated to contain approximately 10,000 ounces of gold have advanced under a competitive tender and are expected to be concluded in the March Quarter 2017."
    * The preceding table excludes any value for the copper gold Middlings product. It is estimated that the value of this product is $15.8M."

    So if the middlings are sold as expected in the March quarter there will be a major bump up in the next results, or in the June results, if the contract is awarded but it takes a few months to deliver the goods and get paid.

    It seems to me that a well managed transition to underground is occurring with enough ore stockpiled on the pad from the open pit and the transition for the plant to operate at capacity until the underground ore enters the circuit, some time after April 1st.
    At which time they'll be able to decommission and sell the Wilfley table. They probably won't get much for it, but it's been worth its weight in gold, so to speak.
 
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