The DFS was 1.25 gpt, but as youknow ( and hopefully everyone else too), that doesnt mean we are going to get that exact grade in every bcm excavated.
The DFS states that about one quarter of the total Open Pit bcm mined is low grade 0.38-0.39 gpt. Whether that is still economically feasible now I dont know, but as Dave said, "we're taking the top off a mountain" and to do that efficiently, it has to be sequenced, which means Calidus will probably have to go through lower grade ore before it gets to the better stuff.
I havent seen anyone mention this from the January update
I doubt its possible to get within 0% (100% retrieval), but 7% does not sound like a huge miss. Maybe thay can still improve to a closer tolerance like 2-3%, if anyone else knows about these things, please comment.
So if we are getting 0.88 gpt currently , and thats 7% off the grade model, then the model is predicting
0.95 gpt for the current block. I think it was Biotrader who said Dave told him "theres no way we'll get higher that 0.9 gpt" , so I assume that meant retrieval would improve a few percent more (say 4-5% off the grade model) to give us 0.9gpt max. But we get a raft of uninformed comments here like "CAI is way off grade", "management are clueless" etc
It has already been mentioned some months ago that because we rushed to get to production, that not enough pre mining was done to get some higher grade feedstock for the ROM pad. This is a strategy goldies use when starting up ; fine tune the circuit using low grade, then when the recoveries are where they want, run the higher grade through to bump up the overall grades so things look rosy when they declare production..
Now I presume when there is debt and hedging lurking in the background, the CEO has to be extra careful in planning how this all unfolds so that enough gold is produced to meet these financial obligations. We have had numerous calculations here and some say CAI wont make it, some say CAI is sailing very close o the wind, others say CAI should be ok.
As elzephyrus said above, maybe there has been a change to the mine plan to shore things up that we dont know about . Nevertheless, debt restructuring is happening as we speak.
The silence from Dave refers to his silence on these matters. Given the dumping, I think shareholder would like some finer detail exactly on what the current strategy is to produce sufficient gold to keep CAI afloat. Too much guessing and innuendo on this forum at present in the absence of this detail.
I think thats where we're at. There are a few small high grade deposits on CAI's tenements, and in no way do I see this project as a dead duck just because we are not mining them first.
(apologies for stating a few obvious things, but wanted any noobs to understand it too)
(20min delay)