SLR 4.20% $1.24 silver lake resources limited

I'm not a gold mining expert, so would appreciate if someone...

  1. 84 Posts.
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    I'm not a gold mining expert, so would appreciate if someone could explain thisWhen from the report to me:

    "Wombola Dam (refer to figure 2), which commenced in September 2014, contributed a first full quarter of production. Ore mined totalled 119,436 tonnes at 2.3 g/t Au for 8,869 contained ounces. Of this, 68,882 tonnes (containing 4,371 oz) remained stockpiled at 31 December 2014 and will be processed in the March 2015 quarter. The stockpiling of this ore substantially increased the all in sustaining cash cost for the quarter."

    When I first looked at it I thought it made sense as you've spent money building up your reserves, but then I looked back at Sep 14 quarterly and was a bit confused.

    From Sep 14 report: "Surface stockpiles at 30 September 2014 totalled ~590,000 tonnes containing 22,500 oz"

    From Dec 14 report: "Surface stockpiles at 31 December 2014 totalled ≈450,000 tonnes containing 17,200 oz"

    So on the one hand the report says AISC is up due to stockpiling at Wombola, but overall stockpiles are substantially lower than previous quarter.

    Would appreciate it if someone could explain what I'm missing as this just doesn't make sense.
 
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