From reading the quarterly they only had 3 stopes running which accounts for the poor number of ounces also. I notice they have not said what the head grade was so that means it was relatively low. I don't know why they just don't come out and say it, there is nothing wrong with 7 or 8g/t if it was around this mark.
The next quarterly will be interesting. They need to develop a lot more stopes in order to get the ounces and hopefully with this $10m funding they can ramp this up but there will be development lead time also to account for.
CTO Price at posting:
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