2022Q3 - Profit $120k 2022Q4 - Profit $457k 2023Q1 - Profit estimate on the McNally's Reef 1300Oz I expect them to mine @ 90% recovery = $2.9M This quantity is the breakeven point
White Law's and other reefs being mined over the next 6 months.
Lower head grade
Softer rock i.e. quartz not diorite
So increased plant throughput
Stockfeed for mill required from level 4 to surface plus RoD feedstock
They need to exceed 80Oz/ week (breakeven on admin, staff and production costs)
Also issues with WRM not unique to them
However, I am confident they will raise the shortfall of the 7c SPP.
I anticipate good news soon both from investment to provide 5 quarters of funding plus increased revenue as the mine ramps up.
WRM Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
