Hi fitnfam,Stumpy, CW & KW, Yes I am still scratching my head too with those July Oz to date as well!
The quarterly stated it was expected Coolgardie's production would be in line with March Qtr (22k oz) so wouldn't expect it to be 13k oz for the month. Even at 106k T milling for the month we would need a head grade of like 3.7g/t to get 12k oz so I tihnk it would be closer to 8k Oz for the month. Having said that last qtr head grade was up 15% to 2.75g/t.
Laverton had half its 44 day campaign run in July and had 220k T @ 1.63g/t at the start of the run on the GSM ROM pad. Maintaining that grade would get us 11koz for the month. mmm - perhaps kentwang is correct with his suggestion or we got a pleasant surprise from July mining grades!
Anyway it is pleasing to see some improved headgrades at Coolgardie, and some of the research/presentations I am reading point to Laverton being the area of growth for Focus. I am a little nervous about the GSM deal and would like to see some news in the next 6months of its extension. It was good to see the recoveries up a couple of percent too.
Stumpy I believe focus have costed the two mill upgrade scenarios you talk of. I would ball-park $15-20M for Barnicoat.
We should see a Diggers & Dealers Presentation out Monday or Tuesday morning. I see FML are presenting on Tuesday - anyone attending?
Lenny
FML Price at posting:
3.5¢ Sentiment: LT Buy Disclosure: Held
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