@calmbeforestorm
It's standard practice to use low grade ore when commissioning because plant recoveries are low and you don't want to be sending heaps of metal to the tailings dam. Still throughput in 2024 is low and it may have something to do with the footwall geotech issues delaying ore access.
The project will be commissioned a year later than envisaged in the DFS and production in the year 1 is 40% of the DFS year 1. Based on the schedule released today ore throughput to the end of 2024 is 1.2Mt less than was in the DFS.
Covid takes some of the blame but it did take about two years to get Nova-Bollinger into production after initial finance and the DFS assumed one year.
Production gets ever closer so you either suck it up or sell.
Ann: Vares Project Production Guidance & Update, page-14
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