April approx 47kt hauled (from graph) May 52.7 hauled (A RECORD-trucks must be fixed) 31 ST MARCH 5kT SURFACE STOCKS LESS 31ST MAY 35KT AWAITING PROCESSING
=100KT HAULED +5kt surface-35KT SURFACE MEANS 70KT PROCESSED THRU THE PLANT.gRADE OF 4.92 10% HIGHER THAN LAST QTR
Add another months hauling at say 40kt to be conservative gives a potential mine record of 140kt hauled
with only half this processed assuming each 35kt contains 5000koz=8700 oz nett(87% yield)(end of may stock figure) +2000 oz ex tanks gives 10700 oz for APRIL/MAY 5000-10000 oz for june with plant producing 250+oz/day and rising.I believe full production is around 350oz. changed procedures and plan methods may mean increased yields of reduced costs or both,neither included.
All together expect at least 15700 oz plus this quarter.Even at cash cost of 1040 that leaves $400/oz or $6M plus surplus cashflow.Not much but that's still $24m/yr with only upside.Half of market capitalisation. Now what if its 16500 at $980 17000 at $950 18000 at $930 or the top of 20000 at ????
Pigged out-make of it what you will-DYOR
AXM Price at posting:
0.8¢ Sentiment: Buy Disclosure: Held
