Lamaque Progress....more analysis and reflection
posted on
Feb 04, 2012 03:11PM
Edit this title from the Fast Facts Section
Thanks to Chadio..who got me thinking a bit more about yesterday's announcement (this is a bit of a messy cut-paste...sorry guys.):
Part 1 of yesterday's NR
"The Company is pleased to announce that sufficient development has been completed in the North Wall now to allow the operation there to start ore mining, while development continues to expand the available resources.
Part 2 of yesterday's NR
At the same time Lamaque mining staff has been focused on improving ore access and development in the Lamaque Flats in order to improve production rates and ore grade. These improvements combined with the addition ore that will come from the Long Hole stopes will enable the Lamaque Mine to ramp up its production towards it planned 2000 tonnes per day."
Chadio brings to light the veracity of Part 1 of the NR. Combined with my thoughts...I believe long hole stoping was occuring at least 6 months ago.
I do believe they had trouble with ore grade from Lamaque flats...and that they have done alot to address this issue...
Chadio posted the following:
...............................wasn't North Wall mining supposedly started over 6 months ago?..........
"Val dÓr, Quebec, Canada - June 7 2011: Century Mining Corporation ( "Century" or the "Company") ( TSX.V: CMM )announced today that its developement plans for producing longhole stope ore from the North Wall at the Lamaque mine remain on target for July and will result in the planned noticeable increase in ore feed rates to the process plant for the third quarter."
"..............During this period the Company's developement actions have been focused on accessing the targeted longhole tonnage ore reserves forcast in the North Wall area. Due to the excellent developement rates provided by the mining contractor, CMAC, the mine is in a position to start longhole stoping in July...........,and by the end of the Q3-2011 the Company is targeting to be at th planned rate of 2,000 tonnes of ore per day........"
Val d’Or, Québec, Canada – July 25, 2011:........................
"Lamaque Update
In addition, Century announces that the Lamaque Project has started the long hole stope mining from the higher grade bulk volume targets related to the dykes and shears in the North Wall. Now that the Company has access to this ore it will start the ramp up in mill feed tonnage to 2,000 tonnes per day forecast for the fourth quarter."...............
………………courtesy of Carib: ……….“CSC member forwards a message received from Graham Ruck, who is Managing Director of Tamarin Capital Limited. Graham and Major know each other from back when both were in the Investment Banking business. In that message Graham relays that he had sent Major an email regarding some queries and Major called him back today. Major’s comments are mostly negative, but (quoting from the message) “But there is good news”, that he is now in the North Wall running at 1500tpd. Mine doing 100 ounces a day now"
...............which release do you believe?....................................also I think it is easier to "concele" poured dore bars then concele a big mound of unprocessed ore...............also this was around the time that Integra, the neighbour, did Century "a favour" and got ended up getting tailings and aggragate to build some roads on their property....maybe a convenient way of disposing extra mining residue that wasn't supposed to exist......
These are just my expressed opinions and shouldn't be taken any other way then as an opinion
I followed up with this:
Thanks Chadio for your DD and memory!
I believe all of the releases...just not the timing of them! I don't think yesterday's release stated *when* long hole stoping commenced; kind of ambiguous... Actually it tends to suggest "sometime in the 4th quarter"...for example...October 1st? Wasn't the CMAC contractor suspended soon after...I can't find the release that has that in it. The July 25th release certainly states that long hole stope mining has commenced. So...I think it has been going on for at least 6 months already. Thus, I believe that they are probably doing 2000tpd already. However, Carib's inside email suggests 1500tpd at end of May 2011:
20-May-11 CSC member forwards a message received from Graham Ruck, who is Managing Director of Tamarin Capital Limited. Graham and Major know each other from back when both were in the Investment Banking business. In that message Graham relays that he had sent Major an email regarding some queries and Major called him back today. Major’s comments are mostly negative, but (quoting from the message) “But there is good news”, that he is now in the North Wall running at 1500tpd. Mine doing 100 ounces a day now.
http://johnhelmer.net/wp-content/uploads/2011/10/Chronology-of-Events-Rev-3.pdf
This from Oct 31 announcement
VAL D'OR, QUÉBEC–(Marketwire – Oct. 31, 2011) -White Tiger Gold Ltd. (TSX:WTG) ("White Tiger") announces the Company has undertaken a series of actions with the goal of increasing the production at the Company's Lamaque project and San Juan mine.
The actions taken to date at Lamaque include:
CMAC's operations have been restarted, and the ongoing development in the North Wall CMAC will also be contracted to provide ore mining services from the dykes and shears, in order utilize the efficiencies and skills previously shown by CMAC. At the end of the first quarter of 2012 Lamaque is forecast to be mining ore at a rate of 2,000 tonnes per day;
Exploration drilling has been resumed with the objective of stope definition of new targets in the Lamaque Flats and the North Wall dyke structures. The Company is planning to bring in a drilling contractor during the fourth quarter to explore the Sigma West / Main Dyke area;
I therefore would suggest that Lamaque's numbers for fourth quarter will be a big surprise to the upside. They are setting this up with this last release...Carib suggested all along that they couldn't make Lamaque look too good too soon after the business combination or it wouldn't look too good for the story that Lamaque would be bankrupt without WTG.