Safety first, production some day
posted on
May 13, 2010 10:25PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
For some reason, every quarter this just irks me. Under the title production, the very first thing they report on is their safety record, why not add this to the end of the section. We're a gold producer, so first report on production, grade, revenue, etc (Yes, I realize safety is very important in the mining business and for that matter all business)
Now if we ran a day care, then great, report on safety first.
I guess this wouldn't bug me so much if they could just for once, achieve their self imposed production targets. I would like to see "we achieved our best ever quarterly production numbers while achieving an improved safety record"
Now if we were $10 by next year or even the year after, I wouldn't give a rat azz about production, the size of our payroll, negative cash flow
Sorry but I'll be real pissy if we are not near or over $5.00 at this upcoming AGM
Reality is, women get monthlies, we get quarterlies
Production
Record safety, production and revenue performance achieved.
- We have achieved our best ever safety performance. The loss time
accident (LTA) frequency has been reduced to 1.21.
- The quarter saw record production of 63,323 tons of ore or the
equivalent of 704 tons per day despite the negative impact of the
loss of a DC hoist motor at D shaft resulting in loss of access to
lower Rice Lake for two weeks.
- Operations achieved 28 days with production levels in excess of
800 tons per day.
- The mines achieved a new single day record of 1,506 tons including
1,006 tons from The Hinge.
- This resulted in 11,984 oz of gold sales at $1,167 per ounce for
total revenues of $13,988,260.
- Grades were slightly below budget this quarter due to mining the
narrower extensions in No. 1 and No. 3 veins at the Hinge mine
resulting in higher % dilution coupled with a higher proportion of
development at Rice Lake.