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$1.59 kingsgate consolidated limited.

They haven’t started mining yet because of grade control...

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Oldfolk

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12/04/24

17:48

Post #: 73321074
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Originally posted by danbradster: ↑

To the guy who got to see the plant last week -

Did you get a view of the size/movement of the stockpiles?

Or saw any trucks bringing new dirt into the stockpiles?

I think I've seen trucks working on Quartz in the videos. Just it's not clear if they're stripping waste, or mining ore, and management have not made it clear.

I don't see any point stockpiling high grade ore for the upcoming plant instead of processing it in the existing plant, except if the older plant has higher recoveries for some reason. Processing it now means reducing risk and repaying debts before they become overdue.

Other explanation: blasting is by far the most effective mining technique, but blasting requires grade control drilling to be complete first, and possibly not having blasting permission? But that is a risk in itself - grade control makes the blasting more effective, but also pushes the short term debts to their limits (vs blasting or digging it up sooner, and getting some cash ASAP).

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They haven’t started mining yet because of grade control drilling and the gold production is around 3.5k ounces per month (from the local news).

KCN Price at posting: $1.51 Sentiment: Hold Disclosure: Held
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