Sorry, the above post should read mid-Oct not “mid Oct quarter”, I was walking the dog while writing it.
Let be more specific now I have time and am sitting down.
In the Diggers and Dealers presentation (6 August 2018) the company states this about the EM Stage2 open pit
“To be mined to 250mbs, currently 225mbs § Complete late Sep 2018 Quarter”
Then in Bidders Statement released to the market on 10 Sept 2018 they do not include any reserves for EM Stage 2 open pit.
Then in their Supplementary bidders statement, 10 days later (on 20 Sept 2018), 24,000oz of reserves appear at EM Stage 2.
So we are now to assume that as at 20 Sept 2018, 24,000ozs of resrves exist at the bottom of the EM Stage2 open pit. Funny how they wouldn’t have been able to know this when they made the statement in the Diggers and Dealers presentation about the pit completing in the late Sept quarter.
Now in the Denver presentation only 5 days later (25 Sept 2018) they say this about the completion of EM Stage2 open pit.
“Complete mid October 2018”
So are we now to believe they are going to mine the remaining 24,000ozs of resrves in a little over three weeks when their average mining rate at EM Stage 2 open pit since starting mining on 3 Oct 2017 is 8,058oz/month?
That would be a mining rate more than 3 times that of their average rate of mining of this pit.
I simply can’t keep up with what’s being reported by RMS and frankly I’m becoming more and more cynical about their numbers and their motivations. DYOR. Esh
EXU Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
