So if they are unoffically claiming 80k ounces for 2011 with ~4-5k sitting in front of the mill, does this mean they will produce 105k ounces next year officially unofficially?
8388 x 12 = 100,656 + 4-5k ounces = ~105,000
They averaged 1775 tpd milled for December. That's 55,025 tons for 8388 ounces/month or 271 ounces/ day. Contrast that with the Q3 average of 1324 tpd milled which produced ~210 ounces per day.
There was an increase of 34% tons milled with only a 29% increase in ounces produced. Sure this is comparing one month over a whole quarter but it clearly demonstrates that the trend for grade is continuing down. The cup half full eternal optimist in me is hoping they are still working through the peripherary and have yet to even tap the high grade.
Q1 6.47gpt
Q2 6.35gpt
Q3 5.83gpt
Q4 ?
That's quite a stretch for the next G considering:
RED LAKE MINE
EXCEPTIONAL FIRST YEAR OF COMMERCIAL PRODUCTION
During 2001, the performance of the Red Lake Mine significantly exceeded the original business plan (feasibility study) forecasted annual production of 240,000 ounces of gold at a cash cost of $88 per ounce. The 503,385 ounces produced during 2001 represents a 110% improvement from original forecasts, while the cash cost of $59 per ounce is 33% lower.
Fourth quarter production of 113,694 ounces resulted from the processing of 64,898 tons (at an average rate of 705 tons per day) with an average grade of 2.14 ounces of gold per ton (opt) or 73.38 grams per tonne (gpt) with a recovery rate of 88.2%. Year to date production of 503,385 ounces has resulted from the processing of 246,618 tons (at an average rate of 676 tons per day) with an average grade of 2.26 opt Au (77.50 gpt) with a recovery rate of 88.5%. This production also included 16,355 ounces from processing concentrate.
