Goldpet,

Well this is another similarity with Mart of over promise and under-deliver.  Mart is making a lot of progress on that subject and I hope PTQ can do the same.  To the defense of both companies they are always being pushed for numbers, they give their best opinion they can at the time but they always forget that stuff happens.  The good thing is that both companies seems to deliver at the end.  Always late but they deliver.

 

Concerning the heap leach, give me a few day to organize my notes and double check.  The good news is that the test HL is working well and they are now loading the big one.  They have 5 meters to go.  I can assure you that one since I looked at it and took pictures.  I cannot post pictures but can email them if interested.

They will have to go through a production ramp up so I do not expect a full 1,500 oz a month before at least the end of the calendar year (I hate fiscal years that do not match calendar years).  Hoever It is really hard to tell since they have multiple piles of ore with various content of gold per gr so it depends what they process first.  What we may get is a very variable production ramp up.  Also do not forget that since the process takes 45 days the timing will impact the quarter results.

 

I hope that helps,

 

More to come.

 

Cheers