Good planning by management is determined by running a company according to a plan that is set. Any forecast made in the last 6 months from information published to the market would have expected a much better performance from the sulphide circuit and nothing approaching what was achieved in the oxide circuit this qtr. By any measure the sulphide project is over budget and behind schedule. Without the absolute blistering performance by the oxide plant, this qtr would have been a disaster.
Cash costs for the qtr for the oxide plant were $624 per oz.......This is HALF what they have been for any qtr in the last 18 months......Despite producing 62% more gold and mining 5 TIMES the amount of ore than the prior qtr, TOTAL cash cost this qtr was$21.6M against a TOTAL cash cost last qtr of $26.3M. $5M LESS IN ABSOLUTE TERMS FOR SIGNIFICANTLY(MULTIPLES) MORE OUTPUT ............A blistering result and well worth a tongue in cheek "lottery" label.
Anything I write is supported by information published in reports released by management. You may not agree with my interpretation but that is for you to decide.......You can only consider it dangerous if you haven't got a brain and you don't want to think for yourself.
........and if the main project is struggling is that due to bad management and bad planning??????.....
Ann: Quarterly Activities Report, page-74
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