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Those numbers look good. Just need to switch the oz number to...

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Dooksy

146 Posts.

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18/04/18

16:25

Post #: 32533273
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Originally posted by Ruddy123 ↑

Ok so I have read it 2 times to see what's happening, my take but few of the experts can have there point of view:

1) "Commissioning issues which is normal whenever we start producing and this one is a really old mine"

2) Hammer Mill 3 (HM3) production of 131.4 ounces of gold in doré during 7.5-day initial commissioning run-time in March (i.e., average of 17.5 ounces per day)" - "HM3 was fed with 640 tonnes of tailings, low and medium grade ores and mine development material producing an average 6.4 g/t grade and an estimated recovery of 83.9%
That means Hammer Mill concept works and they are getting 6.4g/ton and this is only Tailings.

3) “HM3 commissioning expected to be completed by the end of April” “Final commissioning involves processing 5,428 tonnes of a blend of low, medium and high-grade ores and development material currently on the pad and another 1,041 tonnes of mainly high-grade ore which is underground awaiting haulage. HM3 being run at 50% capacity of 25 tonnes per hour until commissioning irons out some of the equipment breakdowns in other parts of the gravity mill, which should be overcome before the end of April”

So for April this means they are processing 5428+1041 = 6469 Tonnes of mixed grades, Lets say even if it’s more than tailing a little bit 8g/ton (very conservative in this case) = 6,469 X 8 = 51744 g / 28.934 = 1,825 ounce of gold for month of April

Let me know if I have missed something. I certainly see this as good news because Hammer Mil lost cost solution works which is still the back to old age approach. But remember

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Those numbers look good. Just need to switch the oz number to Troy ounces (31.21g). It's a common mistake, it got me!

OGX Price at posting: 7.3¢ Sentiment: Buy Disclosure: Held
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