Love your maths Sabine!
Assuming 24 hr operation, my month of Dec2018 estimate is around 7295 oz:
- 16.7 days = 4245 oz (254.2 oz/day)
- 2.3 days = 0 oz (56hrs / 24 = 2.3 days)
- 12 days = 3050 oz (12 days * 254.2 oz/day)
- My estimate for month of Dec2018 = 7295 oz
My estimated Dec2018 quarter would then be within the GCY target range of 17,000-18,000 oz ... could be a little higher with the new grates. But Jan2019 should be at least 7880 oz (254.2 oz/day * 31 days) and 22878 oz for the Mar2019 quarter (254.2 oz/day * 90 days).
My take on the $12m loan facility to GCY is that NRW had no choice. It is doubtful the Banks will lend further to GCY and suspect the shareholders would lynch the Board if there was another CR ... so NRW is the 'lender of last resort'. But suspect NRW's main concern would be that a conservative Board could tip GCY into VA (as a result of short term 'bad luck' such as machinery breakdowns, rainfall etc) and this would put their $300m contract at risk. Thoughts?
News: NWH NRW Holdings To Support Gascoyne Resources With $12 Mln Loan Facility, page-25
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