The announcement doesnt read very well to me. Still only producing at about 60% of what the plant was designed to do.
66,000 oz Au per year
$20/$1320 * 600000 Ag = 9,000 oz Au equiv
total expected output = 75,000 oz Au equiv (includes silver at current spot price)
5M/month = 60M/yr
60M / 1320 = 45,500,000 oz Au per year
45.5/75 = 60%
So yes they are operating cash flow positive (2.5M per month) but they need to do a lot better and the last few modifications to the plant look to have done very little.
A previous announcement had recover rates of silver within 4% of target and gold of within 15% of target (or there about's) but that is not what it looks like from the revenue numbers.
So what was the feeling out of the meeting they had today? Any detailed explanations beyond what was announced?
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