Pessimistic case:
Grade has fallen to <0.4g/t and management don't want to announce it. Meaning, we're still not processing mined ore.
Optimistic:
Grade has trended towards 0.4-0.7g/t, depending on how much they've been able to mine to mix in with the stockpiles. But they didn't feel like announcing it.
We're lucky gold is up a bit, not down a bit. It might be saving us. Gold being up 5-10% is enough to make 0.4g/t ore pay the same as 0.42-0.44g/t ore (compared to 6 months ago).
For Dec-Feb, when mining ore has possibly started to happen (instead of waste), gold has bounced around $2050/oz. Now it's at $2180, but I guess there's a lag for that to flow through (depending how sales pricing works with the refiner).
I guess we were producing 1000oz per week lately. $2.1m USD per week. Gold being +5% puts us +US$100k per week better off (except for royalties).
Pessimistic case:Grade has fallen to <0.4g/t and management...
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