From memory one point that has not been mentioned here is that the silver grade at Twin Hills is importantly meeting AYN's projections and that this was further confirmed by AYN's grade control drilling:
From the December quarterly:
"RC drilling in and around the current Twin Hills Pit was completed during the Quarter as part of a programme to infill the exploration drilling for the purpose of grade control of the “ore” for the first 12 months of the mine plan.
In total, 32 holes were complete for a total of 2,408m. The drilling returned significant silver intercepts confirming and in some cases exceeding the Ag grade within the exploration model.
Selected intercepts have been included in Appendix 2, Table 10 and include:
THRC002 46m @ 132.8g/t Ag from 0m & 11m @ 91.2g/t Ag from 54m THRC003 28m @ 106.6g/t Ag from 0m THRC004 49m @ 151.8g/t Ag from 0m THRC008 10m @ 145.6g/t from 68m THRC010 44m @ 105.8g/t Ag from 0m THRC016 11m @ 72.7g/t Ag from 34m THRC019 27m @ 96.7g/t Ag from 0m
My comments: From my experience many ramp ups and mines have serious issues because the grade of ore is significantly lower than expected - or not even there!
An example is MUN which very early on reported that the quantity of gold they expected to initially mine was pretty much not there - see the 8th. September, 2008 "Production, Funding and Development Update" ASX release where MUN told us about this "reinterpretation."
By contrast AYN's 22nd. February ASX release has told us there was about "400,000oz of recoverable silver now stockpiled on Leach Pads 2 and 3."
AYN Price at posting:
5.2¢ Sentiment: Hold Disclosure: Held
