4,947 tonnes at 3.31g/t gold content at 93.7% recovery equals 493 ounces of gold. At A$811 per ounce (spot price).... That is $400,000 revenue.
What the announcement does not say, is....
1. How many days of ore treatment that is.
2. What the annual capacity of the mill is.
3. The expected ore grade is 3.5g/t which is a lot lower than the published reserve grades... so is the ore representative or not?
4. What are the expected cash operating costs.
5. Since recommencement of mining in April is this the only amount of gold produced? ie is $400,000 of revenue all that has been generated since recommencement of mining in April?
Could be that this raises more questions than it answers? As always, never rely on my posts, do your own research.
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