Companies and analysts tend to be conservative.
e.g. 10 weeks ago UBS used the assumptions of spot gold at US$1600 and exchange rate of 75c for their 12 month target forecast. ($1.45)
They are now using spot price of US$1750 and exchange rate of of 75c. (AUD$2,333) and came up with a 12 month target of $2.00 following the release of the quarterly.
UBS estimate production for the half 83.5k Oz. Implying 46k for the June quarter
Macquarie estimate is about the same 46k Oz for the quarter.
Let's try 9.2 g/t average head grade for the quarter
Name plate ore milling is 2740 tonne per day.
91 days in June quarter .
less 3 days for maintenance etc
88 x 2740 = 241,120 ore milled for the quarter .
241120 x 9.2 = 2,218,304 grams which equals 71,328oz
At 90% recovery is about 64,000oz for the quarter and over 100,000oz for the half.
I believe I'm being conservative.
GLTA
Companies and analysts tend to be conservative.e.g. 10 weeks ago...
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