Ann: Change in substantial holding, page-21

Colin, substance mate ... there is hardly ever anything in your posts except loud lamenting. 

This is what I see in Sulphide reports ...

2018 DEC Quarter
Ore Mined - 165,446t Grade 2.66gr Processed 511,387 Grade 1.73gr Recovery 71.4%

2018 SEPT Quarter
Ore Mined - 88,563t Grade 2.80gr Processed 355,961 Grade 2.24gr Recovery 69.2%

So looking at these numbers (assuming I got them right) looks like they mined almost double the amount of ore in December quarter (DEC165,446t vs SEPT 88,563t) but slightly lower grade.

They processed significantly more ore in December (DEC 511,387 vs SEPT 355,961) which accounts for the weather and roster shutdown in SEPT quarter but the grade was much higher in SEPT (DEC 1.73gr vs SEPT 2.24gr).

So IMO if they processed grade of 2.24gr in DEC quarter their Sulphide gold poured could look much better. At least in theory.

Colin, you were doubting they would get anywhere close to 70,000 ounces and they produced 73,691. I do understand that Sulphide wasn't the star of the show in December quarter and the additional ounces came from Oxide circuit.

Once in steady state production they are aiming at processing 600,000t of higher grade underground ore (so far they mined 2.66gr in December and 2.8gr in September quarter (I think that's from underground mine?), and they are aiming for recovery around 85% which would make a world of difference if they can achieve it.

They don't expect this to happen until the end of June. So I guess if it goes to plan, 2019 Sept quarter will be the real test, it could be later if there are delays in deployment of autonomous fleet etc ...

So IMO the questions are:

1. Can they mine 600,000t+ of high grade ore per quarter from underground?
2. Can they mill 600,000t of high grade underground ore per quarter?
3. Can they achieve around 85% recovery?

and all consistently ... 

If any of the above don't come true will it be a temporary problem or something they will be stuck with?

Which one of the above are you doubting Colin?

(Colins reply will be: All of it! haha) which is what any 3 year old could reply. It would be good to hear a reasoning for each point Colin. If you can put some reasons that make sense I will seriously evaluate as I don't want to lose money either.

Looking at the numbers above I have one question and I will refer it to Esh as the mining expert.

In Sept quarter the milled grade was 2.24gr. How come they achieved only 69.2% recovery? One would think this should be higher?  Are they really going to achieve 85% recovery with the ore from underground? That one really puzzles me. 

Esh please comment on some of the above as I honestly still don't know what is the difference between Oxide and Sulphide. I only recently started spelling AISC instead of ASIC haha

If I made any mistakes, typos please let me know.

This is only in my opinion, not offered or to be taken as financial advice, DYOR