production rates may be suss...

Hey guys, I like the story here with MLI, I'm not downramping here guys as i bought some of these at 31c..... BUT..

I cant seem to justify their expected gold oz recovery rates...

It's all good and well to throw figures like 45000, and 120,000oz pa around but has anyone done the numbers to prove these figures correct?

Assuming that their resource body grade is 0.42g/t. Stage 1 production is expected at 220,000t per month. which translates to 2.64mtpa..

so 2,640,000 x 0.42 = 1,108,800g / 30 = 36,960 gold oz's p.a. a far cry short of 45,000...
-> (this assumes 100% extraction efficiency of gold, which imo is terribly optimistic).

My point to note here is that these numbers assume a best case scenario (100%) efficiency. So if the much touted 45,000 and 120,000 oz p.a. figures are actually misleading anybody can see that this will impact significantly on profit expectations.

If any of my numbers here are wrong, i would appreciate some insight...

Thanks in advance.