ECU Production Numbers from Sedar MD&A
posted on
Aug 17, 2008 09:21AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Here are the production numbers for Q1 and Q2 2008 from ECU's Management Discussion and Analysis posted on Sedar:
Total contained metals from mill production:
Q1: Au = 735 oz, Ag = 21,987 oz, Pb = 55,878 lb, Zn = 89,565 lbs
Q2: Au = 846 oz, Ag = 51,804 oz, Pb = 136,096 lb, Zn = 203,582 lb
% increase of production in Q2:
Au = +15%
Ag = + 136%
Pb = +144%
Zn = +127%
Total metal value using current prices:
Q1 = $966,714
Q2 = $1,579,214
% Increase metal value increase in Q2 = +63.4%
Q2 metal value using estimate of average 20% higher prices in Q2 =$1,895,057
Mine production grades in Q2:
Au = 3.91g/tonne
Ag = 162g/tonne
Pb = 0.53%
Zn = 0.93%
Ag equiv = 14.90 oz/tonne = $189.23/tonne at current prices
Mill production grades in Q2
Au = 3.30g/tonne
Ag =137g/tonne
Pb =0.77%
Zn =1.24%
Ag equiv = 13.60 oz/tonne = $172.80/tonne at current prices
%recovery in Q2:
Au =65%
Ag =95.5%
Pb =65%
Zn =60%
Tonnage of mill production = 12,312 tonnes = 135 tpd
From these numbers we see that both mine and mill grades are very good at 14.90 oz/tonne and 13.60 oz/tonne respectively. We also see that silver recovery is very good at 95.5%. Gold recovery is still low at 65%. I don't know if the proposed roaster will improve the gold recovery or only further process the pyrite concentrate. The company says initial results from the roaster are very good and I am delighted with this as Stephen Altmann has told me ECU has over 10 million dollars worth of unprocessed gold. The lead and zinc recoveries are also somewhat low, but this is of little difference as these metals are only a small component of the ore value. Also, perhaps improvements in the mill design for the proposed 1500 tpd mill will increase these recoveries and also these metal concentrations will probably increase in the massive sulphides. We also see that metal value increased 63.4% in Q2 and that the mill is still processing below its 400 tpd capacity at 135 tpd leaving room for further improvement. Regards.