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Message: Re: 174K REVENUE ALL OF 2011?...translation please

Pic- Seems you've been a victim of misdirection...

"If my memory serves, this was about a low grade tailings operation, and much of the dore remains at the site or in storage......about $5.4 million worth."

That $5.4M in "storage" is stored not in the form of dore, but in the ground up ore they've been processing the last two years- not exactly easily accessible. It's the "inventory" of partially depleted ore that they only got 15-25% of the gold out of. Re-read the PR- it needs to be put through the leach pad to get the gold out, and they need the permits and money before they can build the leaching circuit. And in the meantime they build up more inventory of depleted ore, and even when the leach pad is in place they will be churning out more ore that needs to be leached. Don't know when they will ever get around to the "stockpiled" ore unless they build a leach pad that has capacity way beyond what the present (or expanded) mill can put out.

I agree with you that we need to focus on what's in the mountain, because, unlike what we were led to believe, the mill operation won't be driving an increase in sp any time soon.



Apr 12, 2012 11:23AM
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Apr 12, 2012 01:09PM
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