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Message: Re: Macod

Jun 18, 2012 06:47PM
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Jun 19, 2012 04:00PM

No way there is $5M worth of concentrate. They have processed ~30K tons at ~5 g/t. That's ~$6M total in what they have milled. Getting 20% of that out is ~$1.2M in concentrate, of which some has been smelted and/or sent to the refiner and/or sold. There's maybe $5M left in the 30K tons of milled, partially depleted leftover ore that they still need to leach (which will take a long time). If the mill had been running efficiently (thanks CQ), say at 85% recovery, then they would have well over $5M in concentrate/dore/revenue. As is, until they get the leach pad running, there is no reason to run the mill at a loss. They'll just have to reprocess whatever they mill.

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