Yes, the mining operation continued while the processing plant was out, resulting in a mega stockpile of ore.
Peter Kerr stated in the last quarterly that he was temporarily retaining the mobile plant to work aong side the recently repaired plant in order to help reduce the stockpile which will definitely increase sales revenue plus may also help improve logistics on the mine site.
It was not all that long before the fire last August that upgrades were made to the processing plant to increase rate of production.
Peter Kerr also stated costs will further reduce due to ending use of the mobile crushing plant and also because of huge reduction in ore to waste ratio. Peter Kerr stated he is following two lines of strike of high grade ore. He also stated the crew on Koolan are lean and efficient. (Koolan has a crew of only 350, yet production is near double that of rival with double the workforce).
With consistently hitting high grade with minimal waste ratio, combined with upgraded higher output processing plant, Koolan should be able to maintain a high level of production.
MGX Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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