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Friday, January 6, 2017

Hermosa - a sleight of hand

When you have a project that is suffering from a bit of turbulence, what do you do?

Easy - just remove any misleading statements from your presentation.

We're going to look at AZ's presentations on the Taylor deposit from the 7th December (link) and the 22nd December (link).

  • Great concentrate comments - gone (it makes for a less cluttered slide)
  • we now have different recoveries for Zinc and Silver

Slide 3 - original

Slide 3 - new and improved presentation

they still have the highly experienced management team
We also have different recoveries now

Slide 6 - original

Slide 14 - new and improved

oh no, the concentrate isn't clean anymore!

So in 2 week the recoveries have changed from:

Zinc Concentrate

  • Zn - original = 87%, new and improved = 85.5% - a 1.5% difference
  • Ag - 8-15% original, average ~12%, new and improved = 15%, a 3% difference 
Lead Concentrate
  • Pb - original 93%; new and improved = 92.9% recovery, no real difference
  • Ag - 76-85% recovery of silver, average ~80%; new and improved = 76%, a 4% difference
That is impressive, in 2 weeks with no additional testing AZ have managed to decrease recoveries of Zinc and Silver. Were the values in the earlier presentation wrong?