RSG 1.23% 40.0¢ resolute mining limited

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  1. 11,185 Posts.
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    The source of my numbers is provided in my post. If you used the same source you must have applied a grade much higher than the reserve grade.

    Based on the previously published UG ore ramp up chart (that I referred to in my original post) we were not expecting more than 180,000 tonnes to come out of the UG mine for the Dec quarter.

    At the published reserve grade of 2.7g/t that is 15,627 ozs of gold which is the maximum production based on the projected ramp up and less than the 21,554ozs produced from the sulphide circuit. You can check the chart for yourself. I might be out in my 180kt estimate by 5 or 10kt either way as I just eyeballed the bar heights on the chart against the y-axis of the chart.

    As I said in my original post some of the gold produced may have come off the ROM pad from mining at the end of the Sept quarter or from sulphide stockpiles, we just don't know, so I'll be looking closely at the full quarterly report to see how close to the 180kt figure we actually got to in reality. Any major undercall on that figure might point to UG problems.

    It might pay for you to also look at the calculation I just completed based on the 3D model where I calculated the potential minable ore available from the 11 completed ore drives on the 1105 level of the mine. As mentioned in that particular post I think my estimate is also an underestimate as the sectional view shows the limits of the mined deposit to be much wider than the 20m I assumed in the upper levels of the orebody. I think the completed drives could easily give access to between one and two months of steady state ore production, ie between 200kt and 400kt and then there are also a number of partially completed ore drives on the same and other levels of the mine. My estimates give me comfort that so far the development of the mine is well on track for achieving steady state UG ore production by the end of June, as is the current intention. I will still keep a close eye the company meeting its previous ramp-up ore schedule as any undercall might mean problems with ore flow from the cave front which is still the biggest risk at this stage together with ensuring recoveries reconcile.

    I have no reason to believe the UG operations are showing any signs of trouble, in fact if anything I'm very happy with the company's performance as the effort to strip the and bring on oxide ore from the Tabakoroni pit has great considering the company reeprted unusual levels of rainfall effecting material movement in the September quarter.

    If your numbers say the mine is a shocker, sell up and go away and wait and come back and tell me what a fool I am. Esh
    Last edited by eshmun: 13/01/19
 
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