Plant has a process rate of approximately 20tph x 11 hours per day for a weekly rate of 1,100 tonnes. This provides a little over 3 weeks of feedstock. Assuming a head grade of 6 - 8 g/t au for the 3,000 tonnes produces 580 - 774 ounces. At A$1,350 produces $783,000 - $1.05M over 3 weeks (assuming processing already completed and gold sold).
A$ is now around $1,400 per ounce so future production gets a nice lift.
We do not know how many tonnes per day of fresh feedstock are being produced from the 1,100 level. Will have to wait and see what is reported.
ORS Price at posting:
5.9¢ Sentiment: Buy Disclosure: Held
