|Ramping down the shareprice|
(looks through notes) - ohhh, juts missed by a mere 5.4 g/t or 35%.
But good news everyone, we've managed to miss out planned head grades every single month in the quarter. At best, they only missed by 4 g/t.
Now that we have 9 months of production figures, lets us look at the ramp up!
Ramp up went smoothly, they reached and exceeded plant capacity within 3 months.
They are milling consistently 5-10% more than planned. Good job guys.
and now it gets interesting....
Consistently bad, typically missing by a third, and this has a knock-on effect
So the difference in actual and projected (from the PEA) gold production is a measly:
I know that some people think that the PEA isn't useful for anything, except when you need $811M to build a mine, or another way to put it:
|They have been so efficient, they've decided to mine the material planned for years 16 and 17, to save the good stuff 'til last.|
Another way to put it is, if they continue at the same level (head grade, mill throughput and recovery) for Q2, 2018, Pretium will have achieved the
- mined and processed 25% more ore and produced 25% less gold than outlined in the PEA
For that, I think you should get this:
|The Sidam Touch|
Personally, I can't wait to see the financials next month and the updated Mineral resource update in the fall.
If you've got this far, I have a mathematical challenge for you:
When I try it, I get Au production = 74,051.4 ounces, a difference of 1,338 ounces.
Or, to produce 75,689 ounces the head-grade needs to increase to 9.3 g/t Au or the recoveries to 99%.
*unfortunately, missing production targets is quite normal for mining companies.