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Brigus Gold Corp Message Board

bosar53 2 posts  |  Last Activity: Jul 9, 2014 12:43 PM Member since: Mar 15, 2006
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  • Reply to

    Update for April and May?

    by abby2mag Jul 7, 2014 3:36 PM
    bosar53 bosar53 Jul 9, 2014 12:43 PM Flag

    high strip ratio,low concentrate production,low selling price means that they've probably run out of cash and credit and ceased mining. gl

  • Attributable gold ounces sold from the Black Fox Mine decreased by 35% compared to the first quarter of 2013. The decline is primarily driven from insufficient underground development resulting in lower production during the three months ended March 31, 2014. Primero, the new owner/operator of the mine, recently announced that it intends on spending over $40 million on capital projects and exploration activities at Black Fox in 2014. The objective is to increase underground production such that 120,000 ounces of gold are produced annually from the mine. Primero also intends on achieving a mining and processing target of approximately 1,000 tonnes of ore per day by the end of 2014.

    Looks like 18-19k oz for q1 or head grade roughly 3g/t, back in line with life of mine average grade according to reconciliation to date.

    120k oz/yr aint gonna happen as forecast is based on simple extrapolation of bogus "management assumptions" from oct 2010 which forecast average 104k oz/yr 2011-2015 inclusive @2.000tpd. whereas actual average annual production has been 75-80k oz with fresh ore from OP expiring in relatively near future and 1.1g/t stockpile becoming major feed source. gl

BRD
1.150.00(0.00%)Mar 4 4:02 PMEST

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