Q422 Production Forecast at 5000 ounces
This estimate comes from the June22 FRR Analyst report in which F22 annual production was forecast at 10,066 ounces.
As that report was done in consultation with Monument management, it's forecast for Q4 should have solid basis
For the first 9 months of F2022, we have produced 5149 ounces.
That indicates close to 5000 ounces for Q4...this quarter ending in June 2022.
This is a signifucant gain in production....in fact the most in several years .
The source of this increase in production was almost certainly Peranghi production which was hampered in Q3 due to excess monsoon rains altering the mining benches and covid labor shortage......just 2400 ounces produced.
In Q4/22, those conditions have ameliorated, allowing increased mining of Peranghi pits.
These grades will include substantial proportion of pit grades which average over 1.2 gms/ton.
Recoveries will be of the order of 90 % for such oxide grades.
Going forward, while Q1/23 ( July to Sept ) may be more speculative, there is no reason for them not to continue to produce open pit oxides at Pdranghi, the duration of which will depend on when the Sulphide ore will begin commissioning which is now stated as October .
So, we should have two quarters coming our way in which production should reach about $11 million CAD per quarter and operating margins will be quite good and elevated further because we no longer have to pay out 743 ounces of gold for the streaming deal which ended in Q3/22
My opinions are my own and and DD I post should be confirmed as unbiased
