I've had nothing but angst from you for years over at TBR, meanwhile I was telling everyone to have patience at $3 and we all did well. We all got our $3.90 per share dividend cheque's plus some depending on how you played it, holding or selling.
I'm telling people the only practical and sensible way to judge the performance of the UG mine at Syama is against the projections given by the company as to the amount of ore that will be produced, because the UG mine and the sulphide circuit are one and the same thing. This company would not be valued the way it is presently without this UG development. The sulphide stockpiles and/or the oxide resrouces/reserves can't sustain the current values so the discussion must be all about the UG mine.
You came into the discussion saying that the sulphide result was a shocker based on a number you plucked out of the air in 10 minutes, 2 months ago (as you admit). A number that is wrong and not supported by the actual information supplied by the company in July, which by the way fell more than 2 months ago so you actually had the opportunity to find the right numbers. You elected to use your own made up number and form your "shocker" conclusion based on that and then you have the arrogance of accusing me of doing working backwards. Working backwards is the ONLY way to measure progress.
If you believed in your own numbers and own statement that the sulphide result was a shocker you would sell because as mentioned above this is real the heart of what everyone is investing in when we invest in RSG, but you don't.......hmmmm
My original post estimated the actual tonnage of ore mined from Syama UG from the recent SLC update and compared it against the stated sulphide production from the more recent production update assuming a reserve grade. This seemed to be the ONLY way to try and determine if the result was an Undercall or Overcall against the ramp up figures. On the basis of the asumptions and the provisos provided in my original post I interpreted this as a postive and you immediately jumped down my throat, despite this being the ONLY sensible form of comparison.
I then dug back further to the projections provide in the June quarterly and published in July and found that my the 180kt I'd estimated from the December SLC update chart was a slight undercall on the ~210kt represented in the company's chart in July. What's more I was also a able to establish that the current expectation for production for the March quarter of 355kt is higher than the ~310kt expectation published in July. You know these figures now, as you promptly appropriated them to fix up the estimate in your spread sheet which was originally based on complete guesses and certainly didn't come from company announcements.
Armed with your made up numbers from two months ago you felt empowered and compelled for some unknown reason to post a two line downramp post that I've linked below and started this discussion.
I on the other hand am not as concerned with the question of guidance but more concerned with the ramp up which is currently unfolding so am starting to compare the previous projections to the performance and have looked closely at the progress of the 3D model to see how the completed ore drives stack up in terms of the potential for future ore production. This 3D model is actually a good resource to help monitor the ramp up and progress of mining, however you are either unable to comprehend it or were too fixated with "beating" me in this discussion to take my calculations on board . You scoff that I am just starting now to acces the progress of the mine. When did you expect me to start. December was the first time we have been given monthly ore production figures and the recent production update was the first time we got some gold production to test it against, that is likely not to mostly have come from stockpiles ore development ore. Starting any earlier would have been futile or useless, as is the case for the numbers you plucked out of the sky.
I don't need your made up figures or opinion based on your made up figures to formulate my strategy here and I certainly don't need your insults. You'll now join Colin on my ignore list. Good luck with whatever you do. Esh
(20min delay)
