Share
2,568 Posts.
lightbulb Created with Sketch. 47
clock Created with Sketch.
23/05/17
09:23
Share
Originally posted by Idle Wanderer
↑
In the report above the trucking costs were not stated in a meaningful way. Just reported as “about $50 per tonne”.
I wouldn't give a toss that you don't understand the significance of that except that some poeple here, including you, continue to propagate the myth that “the AISC is below $1000 per ounce”, or it soon might be. You wouldn't want to be misleading HC readers into believing that, so I'll put the $50 per tonne into practical terms so it is clear for everybody.
They recovered about 5.7 grammes per tonne last quarter at the mill. S o they had to truck 5.5 tonnes of rock all the way from A1 to Maldon to recover an ounce of gold. So the trucking costs [5.5 tonnes X $50] are about $275 per ounce of gold recovered. If they can ever do $1000 ounce AISC with that grade and those trucking costs I'll walk backwards from A1 to Maldon.
The goal of reaching $1000 per oz AISC is an aspiration and it isn't going to be achieved anytime soon. I might have an aspiration to lose 10 kg, but unless I make some big changes it's not going to happen. I don't dislike CTL's actual story at all. They are a tough bunch doing a tough job with old equipment and in less than ideal conditions. They are using what they have to grind out some dollars the hard way. They were cash flow positive last quarter.
If you'd stop repeating your misleading $1000 AISC BS, I wouldn't have to keep telling you why.
Expand
Not sure that all the ore mined is being trucked. Some form of concentrating/sorting the ore into a higher grade is going on at the mine before trucking possibly.
In reality, we are investors of an asx listed gold miner. We should haven't to be second guessing this stuff.
Avoidance of continuous disclosure seems to have developed into a higher art form on the asx.