Warrick, Here is my formula for estimating gold production.
Production=Plant throughput (t) X Head Grade (g/t) X overall Recovery (%/100) X g to oz conversion (.035274) X 0.9 (error margin factor)
The table below compares PGI forecasts or actual production figures with the estimates from the formula. They are close; mostly within 1%. Note: Q2f (Q1r) means Q2 forecast from the Q1 report, etc
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 0 forecast or actual Q1 actl Q2 actl Q2f (Q1r) forecast Q3f (Q1r) Q4f (Q1r) Q3f (Q2r) Q4f (Q2r)1 GOLD PRODUCTION 7742 7900 10416 12605 14309 10000 130002 formula estimate 7425 7772 10307 12447 14129 9880 130953 difference % -4 -2 -1 -1 -1 -1 1
So I am happier with PGI forecasts now.
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Warrick, Here is my formula for estimating gold production....
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