Why is it impossible? Firstly, the mill has been in ramp up mode and they have only just reached nameplate. Secondly, they were mining the dirt the locals had picked the eyes out of first. Given this is a nuggety deposit and the locals are highly motivated, this would have resulted in most of the gold being stripped.
TIE can be criticised for not taking the locals more seriously, but given the nature of artisanal mining it is not really possible to estimate how much of the gold was extracted from the oxide zone. If there is a lesson here it is don’t underestimate a motivated man with a pick and shovel.
The real issue of concern now is the wet season. I would like to hear what the plan is to keep the mill fed with non-depleted ore in the near term.
TIE Price at posting:
50.0¢ Sentiment: Buy Disclosure: Held