Hi Quinco, My only involvement is as a shareholder. I do have mining experience. So just put the information and what I derive from the plans and photos ( a picture tells a thousand words ) together with some judgement.
Imo the short term plan is to develop down to bottom of the first spiral, whilst developing the ore drive levels on the right over the next few months then stoping that area out for some nice early bulk tonnage. Probably back fill that area with waste from further decline development to cut down on haulage out of mine. So to answer your question initially only ore from the level development (orange horizontal lines in fig 7) will be rom ore as there developed. Approx 4.5x4.5m in size....75m length so far for 3500 t. All the decline, decline spiral and cross cuts would be waste, maybe some low grade but incidental.
Yes record tonnage but not all sold...from production chart I calculated stockpiles of 1653 t zinc, 297 t lead, 777 t copper, approx value $ 5m. Also final payments lag shipping up to 3months..10 %. In addition one off $4m royalty payment, full costs of Far West development...no income.It is a little disconcerting to see cash drop, I personally think it won't rise this qtr either with raise bore and vent fan costs but come Q3 and Q4 will see good numbers stoping 2 mines.
I agree well managed...the reason I am confident in RVR apart from the resource is the steady methodical approach,....look at their progress... ramping up mining and processing every quarter recently, improving recoveries, and done safely and debt free.
RVR Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
