CLZ 0.00% 0.1¢ classic minerals ltd

Gold bars in a week!!, page-150

  1. 588 Posts.
    lightbulb Created with Sketch. 187
    that was my thought when i saw they had $17,000 in the bank, (wouldn't pay the wages on the production chain from the loader to the gold room), but that was june 30th and they have had the capital raise since then, and in the same report they do say they have more than 7 quarters worth of finance at call.

    two events that could cause delays...(a )plant configuration problems with throughput, where they are losing too much gold in the tailings...(b) running out of water.
    i get the impression that when you're adjusting your ore throughput rate, water is the constant that you need to have running all the time,
    you can see how much gold you are getting but you dont know how much you are losing in the tailings until you get tailings assays back...if they find they are getting less gold than they expected, they dont know if they got their grade calculated wrong or the golds in the tailings.

    this was a predictable problem because they did not assay the ore in the rom piles, they relied totally on assays from the rc drilling to calculate their grade, which could have little relationship to mined grade where they had no grade control drilling and probably mined a lot of barren waste.


 
watchlist Created with Sketch. Add CLZ (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.