Good news, and nice to see management trying to protect share prices.
PR stated they are seeing steady weekly increases in production, so hopefully the are running at around 53,000+ tpd now.
TC is presenting today. Hope Perron follows through with a good presentation and Q&A.
Just listened to Saxton do the presentation. No new information. A bland presentation. Could not or would not answer question on average productivity to attain revised guidance targets. Overall, a disappointing showing.
It was a fair question, and I would expect Saxton to provide an answer, especially if the answer is favorable for the company. The stock has been beaten down, and management should take every opportunity to promote the stock. Dodging the question only hurts management's credibility.
Ultra….I was referring to the first question asked. Paraphrasing….What was the assumed production rate to achieve the revised 2015 guidance? She did not answer the question. Your earlier comments or something similar would have been a much better response.
In hindsight, perhaps the problem is Saxton is a bean counter, and not an operator, and may not be comfortable answering an operations question. Anyways, it is what it is. Move on and produce more Cu and Au.
Just means there are minimal buyers of the stock. Management needs to demonstrate continued improvements at MM, and frugal cash management to regain investor confidence in the company to attract buyers. This will take time. Hopefully, Q2 production report in July will be above expectation.
Langeloth and secondary crusher were 22 million of 2015's capex. I assume they will not be repeated in 2016. Can they cut back CapEx at MM?
Higher copper and gold recovery would be nice….say 84% Cu recovery, and 72% Au recovery. Perron hinted at attaining better recoveries.
Original 2015 guidance was 90-100 million pounds of copper at cost of $0.72/#.
They should be able to attain this in 2016….they better!
I calculated June production rate was 49,114 tpd, a little less than 50,686 in May.
Head grades were up a little for both Cu and Au. Cu and Au recovery were up nicely.
This should help support SP.
Perron also re-stated there will be significant downtime in the future quarters to implement changes at the mill. This will hurt throughput, but will enable them to increase production.
Seems like the markets want more evidence TC is on the correct path before SP appreciation will commence.
Markets want better production progress at MM. Markets want to see action on cost reductions.
They did a SAG reline in April. I thought the downtime was for implementation of a newly designed screen-deck at the SAG.
The expected average recoveries for the first 6 years are 87.3% for Cu and 73.6% for Au.
The expected average recoveries after the first 6 years are 82.8% for Cu and 70.1% for Au.
TC had 85.5% for Cu and 72.7% for Au in Q2. Not bad, but the head grades during Q2 was much higher than the average expected for the first 6 years…..ie: much room for improvement on recoveries.