Keeping it real here is important, as some here are setting themselves [and followers] up for disappointment concerning the upcoming 10Q. There was basically 60 days of operation for the quarter. This was the commissioning of the mill stage where it did not run continuously. There were down days for MSHA certification along with a daily fine tuning process. This is normal procedure as it generally takes 3-6 months to get things tweaked for max. recoveries.
Also a very important point to consider is how much concentrate was actually shipped. Generally when using a refinery the more concentrate you take in the cheaper it is to process. I'm thinking that SFMI would like to maximize their return and wait until the economics made sense. That being said if they were holding a quantity of concentrate, would that show on the books some where. It couldn't go under accounts receivable as it wasn't sold yet. Unlikely to be in inventory as it would be hard to assign a value. Maybe some one here knows if the accountants have a spot for that in the 10Q.
Right now they are capable of doing the 140 t/day. If the grinding of heavier material is required this number won't be reached daily. They have stated production will be increased thru the installation of some additionally equipment, but I'm thinking we are still a few months away from that.
I do expect we will have updates well before the SH meeting, including some numbers on the mill and also news on the work being done on the Sinker Tunnel.
This company is moving moving forward just fine and remember nothing moves quickly in the mining industry.
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