Re: New presentation on website-April edition
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Message: New presentation on website-April edition
This is from Production05 on www.stockigloo.com
Now on website. No major changes. A few quick notes:
1) (pg. 17 ) They confirmed that they have started to receive the new u/g equipment.
2) (pg. 17) Tender out for the 45,000 meter drill program.
3) (pg. 17) They mined 200 tpd u/g in March. Now, it doesn`t say if that is an average or if it is the max. If it`s the average for the month then the current tpd mining level might be slightly higher, at they would have been ramping up throughout the month. Having said that, I noticed that they kept the April targeted tpd at 200 - 300. If it`s not a conservative range then it likely means they expect to mine at current levels for the next month. Their target is 500 - 800 in May. I would like to see them ramp up much higher in April than the current 200 tpd level, but they likely need to wait for the additional ore sources to be prepared for mining first. I guess the good part is that all of the ore mined in March, and the ore to be mined in April (until they begin processing), is being stockpiled - eventually we will see the tpd mining numbers ramped up (the 500-800 in May) complimented further by the stockpiled ore (to push production in the first month or two).
4) (pg. 18) They have left this comment in place: ``average daily tonnage is expected to average 1200-1400 tpd for 2010``
5) (pg. 18) This comment is new to the presentation: ``in 2011 production is anticipated to peak around 2,000tpd``
http://www.centurymining.com/i/pdf/Presentation_April_2010_FINAL.pdf
1) (pg. 17 ) They confirmed that they have started to receive the new u/g equipment.
2) (pg. 17) Tender out for the 45,000 meter drill program.
3) (pg. 17) They mined 200 tpd u/g in March. Now, it doesn`t say if that is an average or if it is the max. If it`s the average for the month then the current tpd mining level might be slightly higher, at they would have been ramping up throughout the month. Having said that, I noticed that they kept the April targeted tpd at 200 - 300. If it`s not a conservative range then it likely means they expect to mine at current levels for the next month. Their target is 500 - 800 in May. I would like to see them ramp up much higher in April than the current 200 tpd level, but they likely need to wait for the additional ore sources to be prepared for mining first. I guess the good part is that all of the ore mined in March, and the ore to be mined in April (until they begin processing), is being stockpiled - eventually we will see the tpd mining numbers ramped up (the 500-800 in May) complimented further by the stockpiled ore (to push production in the first month or two).
4) (pg. 18) They have left this comment in place: ``average daily tonnage is expected to average 1200-1400 tpd for 2010``
5) (pg. 18) This comment is new to the presentation: ``in 2011 production is anticipated to peak around 2,000tpd``
http://www.centurymining.com/i/pdf/Presentation_April_2010_FINAL.pdf
posted by production05 at 3:29 PM on Apr 1, 2010
production05 said...
I took another quick glance at the presentation. I have 2 futher notes:
1) The tpd target for March was ``Nil``. I guess it means they beat the tpd target by 200 (even though we already knew they were mining in March). I guess what we have to really do is take a wider view to fully assess the achievement. I think mining was suppose to start in April. they had build in a 3 month window to get everything in place prior to mining, such as (off the top of my head):
*get power turned on
*rehire staff
*address any government requirements
*gain comfortable access to the underground and prepare the various areas for mining
*prep equipment
*order mining supplies and key start up equipment
I guess all of those functions (and others) went smoothly, thus enabling them to eliminate the contingencies resulting in March mining start up instead of April.
By the way, they did do a tiny change to the April tpd target (from 150-300 to 200-300). Let`s hope they can continue to excel with the start up and delivery above the 200-300 tpd for April.
2) This is new to April:
``Bedard Dyke Portal Engineering and Portal Prep.``
It looks like they are preparing the Bedard Dyke Portal - perhaps ahead of schedule since it is new to the presentation. Maybe it includes the incline also. It`s not clear if they need the decline right away to access the first bunch of ore. The Bedard Dyke ore outcrops in the Sigma pit. There is ore in the pit wall. That is the area they are likely to go after first. It`s not clear how much mine development is required to reach the Bedard Dyke ore in the Sigma wall. They will be mining the 15,000 tonne bulk sample with the first Bedard Dyke permit. My guess is that they can get a lot of that from the pit wall (if not all of it). If such is the case then maybe they can minimize the underground development for the bulk sample which may also help them to start mining it quicker also.
Full mining of the Bedard Dyke and the North Wall Dyke is on a different permit (which I believe the company is working on).
Fyi, the North Wall is scheduled for development in Q4 this year and production schedule for the start of next year. There are currently about 250,000 P&P Reserve North Wall ounces and about another 410,000 Inferred North Wall ounces. Mining will be done via the long hole stooping method (similar to a number of areas of the Bedard Dyke). I believe that is a very efficiency mining method for this type of structure (and very mechanized too). They will use a decline for transportation - from the pit area. It`s a new decline, which will be built as part of the North Wall development in Q4 this year.
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