Cazzex
My take on Garden Well is that the ore mined has 15% less gold in it than was expected and that this may be a stockpile issue or something else. RRL have mined more ore to maintain their gold production but if the reserve has less per ounce then it has less net gold and the lease is worth less.
I could be wrong but that is how I am reading the announcement and market reaction.
"Milled ore grade since the start-up of operations has been 1.7g/t gold compared to the reserve grade of the areas mined to date of 2.0g/t gold. Overall reconciliation to the reserve is not yet fully understood given the large volume of ore currently on the run of mine stockpile. However analysis of grade control and actual milled results to date indicates that mining has generated gold ounces in line with the reserve, albeit with up to 15% mining dilution (ie more tonnes at relatively lower grade than the reserve). The reconciliation will be a continuing focus over the next several quarters along with a critical assessment of mining practices to ensure as little as possible mining dilution of the reserve."
CazzexMy take on Garden Well is that the ore mined has 15% less...
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Last
$2.55 |
Change
0.060(2.41%) |
Mkt cap ! $1.926B | |||
| Open | High | Low | Value | Volume |
| $2.48 | $2.59 | $2.48 | $7.085M | 2.781M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 98847 | $2.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.56 | 6037 | 1 |
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| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| RRL (ASX) Chart |