I don’t understand where you get figures such as 61% from, the...

I don’t understand where you get figures such as 61% from, the lowest operating section is the CIL circuit at 75%, primarily due to impurity contamination. Everything else is running at 90 + percent, hence I would have thought the lowest overall level of production would be 75 % ?

Overcome the impurity factor, tweak the CIL and it would seem they will get back on target to become one of the lowest cost gold producers.

References from announcement :

• dredged feed is currently being delivered to the plant at design throughput (100tph); = 100%

• average gold head grade for February 2013 was 4.3g/t (budget 3.8g/t) = 100% + 13%


• average silver head grade for February 2013 was 44.2g/t (budget 38.6g/t) = 100% + 14%

• the grinding circuit is performing to expectation; = (presumption 100%)

• recovery of gold in the flotation circuit is currently within 10% of design target, and improving; = 90%

• recovery of silver in the flotation circuit is currently within 8% of design target; = 92%

• the conversion of sulphide concentrate to oxide in the Albion oxidation circuit is currently within 9.0% of target and improving; = 91 %

•?recovery of gold in the CIL circuit is improving but currently approximately 25% below target, = 75% of target partly as a consequence of recently encountered carbonaceous material in the tailings being processed (probably previously mined shale within the Pueblo Viejo mine). This issue was not identified in pilot plant testwork and the material is not expected to be widely distributed in the tailings deposit. This matter is being addressed and should be resolved in the near term;

• recovery of silver in the CIL circuit is currently within 8% of budget.= 92%

Then chart of likely costs indicates :


DIRECT COSTS
Tailings Reclaim 5.4% 1.64 18.16
Processing Consumables 35.1% 10.65 117.76
Salaries 13.7% 4.16 46.02
Grid Power 25.4% 7.69 85.13
Processing Fuel 1.6% 0.49 5.49
Spares, Repairs & Maintenance 4.0% 1.22 13.48
Site & Camp Costs 5.7% 1.72 19.08
INDIRECT COSTS
Santo Domingo Overheads 3.4% 1.03 11.41
Insurance 5.6% 1.68 18.71
Total 100.0% 30.28 $335.24 / Oz
Just add 3% Govt Royalty, Head Office Admin Costs (mine wages were included), Financing Costs and Deperetiation ?