Ouch.....in a double blow, that report said that commissioning is expected to continue through to the end of march when production will commence. Weren't they supposed to already be in production and report at end of march just how well first month of production went??
VAU - Vault Minerals
- Thread starter Uncle Festivus
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Your not serious are you? Because it's still in the commissioning stage this quarter doesn't mean they're not producing. Only means that they'll have a better idea on their production rate after all the hiccups are sorted out and running smoothly for the next quarter.
tech/a
No Ordinary Duck
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Absolutely serious, pretty certain they would mention the producing part if it were so.
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Sorry how is this hope?
Like TA, fundamentals is also about weighing up risk/reward. What will happen to SP if they have a good month's production? What is the risk that they will not? Many factors - rain being one of them.
You've done this before - like with the first gold pour (started commenting on 50% silver when you clearly have no idea). Perhaps before commenting about mine operations, have a read about it. Or don't comment -as you've clearly stated you're not interested in fundamentals.
'Hope' was a bit or sarcasm from previous discussions, you can untie your knickers now.
But from listening to all angles around here, one thing that is said a bit is to 'read between the lines', something I don't like doing, as I like facts. But if I was to do this then I don't think production has progressed too far at all!!
But from listening to all angles around here, one thing that is said a bit is to 'read between the lines', something I don't like doing, as I like facts. But if I was to do this then I don't think production has progressed too far at all!!
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True - I don't like how RED management operate with announcements. However, I feel we need to focus on the annoucement on 1/03/2012 which clearly indicates March is a production month. Main one being - target production 4 months to June 2012. This includes March if I count backwards correctly.
And I can't untie them now - it's far too late, they've gone into the depths within.
MrLister, as well as reading between the lines, you also must read THE lines:
The ASX announcement
"Siana gold mine
- production and cost guidance
Commissioning at the Siana gold mine continues, with the declaration
of Plant Commercial Production (30 continuous days at an average of
60 percent of the interim ore throughput rate of 750,000 dry tonnes
per annum) anticipated by the end of March 2012."
Its a shame the gold price karked itself again last night, softened to a slight degree by a stronger US$. Of course this won't help any gold producers today.
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I am worried about this: "Commissioning is expected to continue until the end of March 2012 when the company anticipates commercial production will commence." Seems contradictary.
Hmm - no trading for a few days now.
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That and the god price will provide a nice entry point.
I guess its one way to prevent the share price dropping on a dismal day for gold producers! Very intriguing, I can't imagine what it might mean.
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That was my guess - has to be something fairly significant given cash at bank.
If you are both referring to Mapawa, then no it will not be related to development of that site, first you have to find the ore and do a feasibility study, that takes a lot of exploration.
Realistically, this will be most likely related to Siana. It could be related to the ongoing problems of sticky ore, requiring additional significant engineerying variations to the front end of the plant to ensure plant throughput can be maintained at the optimum rate. But it seems so strange for it to come out at this point, having only recently put the Guidance out, which forecasts 18,000 ozs gold in this financial year. I confess its got me stumped.
Realistically, this will be most likely related to Siana. It could be related to the ongoing problems of sticky ore, requiring additional significant engineerying variations to the front end of the plant to ensure plant throughput can be maintained at the optimum rate. But it seems so strange for it to come out at this point, having only recently put the Guidance out, which forecasts 18,000 ozs gold in this financial year. I confess its got me stumped.
I bet FWPike gives us a post now that you mention that, lol! (But I agree with you both!)
Who knows, it could be an SPP only, to enable existing shareholders acquire shares at the current share price less discount, for $5,000 worth of shares, before it takes off, lol (but I don't think there would be a TH for that purpose unfortunately!).