The mill problems are a little bit bigger than I thought. They seem to be making progress with them and I have no doubts that the mill will run to specs.
The most interesting part of the update I think is the mention of the approx grade 5g/t of the gabbro dyke material. To me it says that the grade of the stock pile will be greater than 5g/t because of the mixing of higher grade ores from Maxwells. I'll be extremely happy if we get 8g/t overall considering the low amount of reef material in the stock pile.
Once the developement ore has finished and MCO start milling stoped ore exclusively the grade will be totally different but the mill will work much better also. The present mill problems stem from the large dyke to quartz reef ratio of the stock pile. The gabbro dyke halo around the quartz reef also hold more of the problem pyrites which are also causing the present concentrate/ dirty gold problem.
Ari
MCO Price at posting:
42.0¢ Sentiment: LT Buy Disclosure: Held
