I don't think you point no 4 works in the way you suggest. As I understand it ore which is mined and then stockpiled for future processing goes into the current AISC as a non cash credit which then has to be reversed when the ore is processed. In other words the $11.4m cost of mining ore which is stockpiled is a credit agains the current quarter which will then reappear as a cost to the period it is processed. One of the anomalies of this procedure is that low assay ore is sometimes stockpiled leading to temporary higher head grade (read lower ASIC and higher production) and the low assay material is put on the stockpile which may or may not be used down the line; however when the low assay ore is used then the ASIC goes up due to lower head grade and production comes down (because less gold is being processed) - you cannot beat the ozs in is about 90% - 93% (the recovery) of what goes in (in the ore)
SLR Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
