1/6
Very encouraging results from #SRB this morning.
Production now above 8,000 oz and more importantly, grades have increased from 5.27g/t (Q4) to 6.27 g/t.
"this first quarter was expected to deliver the lowest level of gold production for 2021."
Very encouraging results from #SRB this morning.
Production now above 8,000 oz and more importantly, grades have increased from 5.27g/t (Q4) to 6.27 g/t.
"this first quarter was expected to deliver the lowest level of gold production for 2021."
https://twitter.com/Serabi_Gold/status/1382574557815529472
2/
This represents a "16 per cent improvement on our internal budget represents an excellent result."
FY guidance held at between 33,000 and 36,000 oz.
Even if we take the "internal budget" to be the lowest end fig. 33,000 oz, a 16% improvement means that actual production...
This represents a "16 per cent improvement on our internal budget represents an excellent result."
FY guidance held at between 33,000 and 36,000 oz.
Even if we take the "internal budget" to be the lowest end fig. 33,000 oz, a 16% improvement means that actual production...
3/
should be capable of coming in at c. 38,000 oz.
The uplift in grades demonstrates that the company was correct. That it's about optionality, which should now keep on improving given that,
should be capable of coming in at c. 38,000 oz.
The uplift in grades demonstrates that the company was correct. That it's about optionality, which should now keep on improving given that,
4/
"3,573 metres of horizontal development completed during the quarter, the highest development rate since current operations commenced."
So they look to be getting ahead once more, which should continue to show itself in the production figures as the year develops.
"3,573 metres of horizontal development completed during the quarter, the highest development rate since current operations commenced."
So they look to be getting ahead once more, which should continue to show itself in the production figures as the year develops.
5/
To hit 45,000 oz in 2022, Q4 2021 has to be delivering c. 10-11,000 oz, meaning continued improvement through Q2/Q3 to get there.
All of that adds up to production outstripping the top end guidance, be it that I understand why they are holding back on saying this for now.
To hit 45,000 oz in 2022, Q4 2021 has to be delivering c. 10-11,000 oz, meaning continued improvement through Q2/Q3 to get there.
All of that adds up to production outstripping the top end guidance, be it that I understand why they are holding back on saying this for now.
6/
With Coringa looking likely to start in earnest by mid year and significant exploration drilling underway, I'm liking what I see here in what is a very healthy gold price environment for the company.
With Coringa looking likely to start in earnest by mid year and significant exploration drilling underway, I'm liking what I see here in what is a very healthy gold price environment for the company.
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