"Total mining volumes remained constant compared with the previous quarter with ore volumes mined reducing by 21% due to the processing of re-crushed secondary floats surface stocks."
... and further down the page:
"Construction of the yield optimization circuits at the Mt Cattlin Plant has commenced. These include an ultra fines DMS circuit, a secondary float re-crush circuit and a final product optical sorter.These productivity improvement projects have been implemented with the objective to increase overall recovery to a range of 70-75%, which in turn will result in an increase in annual production volumes to between 220,000 and 240,000 dmtpa. Construction and commissioning of these new additions to the process plant are scheduled to be completed during Q3, with the resulting improvements in production rates expected in Q4 2018."
In short, there were optimisations done at the plant that start in Q2 and will continue to Q3. But from the last quarterly, it seemed that GXY already started to benefit from the improved recovery already ( from 52% to 56% ) with more concentrate sold.
That is, more concentrate sold for less effort / mine. ... more $$$$.
GXY Price at posting:
$2.70 Sentiment: Buy Disclosure: Held
