Production numbers dont seem to add up
Looking at the figures reported for gold production im confused in establishing the production history ...some of the numbers provided by the company state different totals for different milestones (im just looking at gold ) using only the company's news release. Can anyone help?
On January 7,2014 they stated they produced the first 10.1 kg bar or 356 oz
On April 25th they said yr to date production was 3055 oz
On August 7th they said in May they produced 3279 oz
On August 7th they said the yr to date production to June 30 was 10,671 oz
On August 8th they reported the bank was invoking a production shortage payment in this NR production to June 30th is stated as 8,168 oz
At the AGM August 12 they said July production was 6,375 oz
On August 14th they said the yr to date production was 19,999 oz
Several things come to mind with reference to the production figures referenced in the News Releases (NR)
If we add production to end of june to july production 10671+6375 and subtract that from the yr to date production of August 14th 19999 we are left with the production for August up to the 14th 2953 oz ...this of course on the face suggests slower production for August than July or some other factor at play
The August 7th NR states total production to June 30th as 10671 on August 8th a NR states total production to June 30th as 8,168 oz requiring a payment of $27,549,600 to the bank as production was only 91.8% of the 100,000 expected.
Can anyone reconcile these numbers...?
Im also posting this to a US board as this trades as CPNFF in the US perhaps traders there have some ideas
