Good balanced post @Retoors which puts this comapny’s reporting of results into the context of conventional mining parlance.
Most companies will report the milled grade as a head grade and then a recovered grade is reported once the ore has gone through the entire processing circuit. Not very difficult to report this way considering they have an on-site lab. If they are not confident to report the head grade using the results from the on-site lab they could give qualifying statements with the result in their reporting and later compare them to assays certificatied through a commercial laboratory. The recovered grade is not as hard to figure out as you know how many tonnes go through the circuit and how much gold comes out the back end. OGX can’t easily report JORC resources/reserves at Cascavel due to the nuggety nature of the gold, they’ve never reported an AISC (despite posts on this site and other promotional blogs on the internet in the past claiming mining cost as low as $71/t and AISC of $500/oz or lower??) and they are struggling to provide basic investor information like production rates, ore mined, ore milled , head grades and recovered grade in a timely way..
The way this company discloses information has been pretty poor all along IMO. Esh
P.S. those low mining costs and AISC might have applied to the few last tonnes of weathered rock that remained in the Cascavel mine when the modern day parties who who owned and mined the mine before OGX were there. My guess is after they got the easy ore out they they flipped the mine to OGX. Much easier to make money selling the dream. They even got cash out of the capital raisings which should have been destined for developmemt and exploration, cheeky devils. So far they are the only people other than Portuguese 300 years ago and the garimpeiros to make momey from this mine.
