Not making targets repeatedly bugs me, revising guidance through a radio show but never a formal news release bugs me, financing, finaancing, finaaaancing after saying you will be cash positive bugs me, but to make a statement like this is just embarassing. It appears that someone has forgot that spending 80MM and 2 years upgrading the mill was the standard excuse for delayed production until the famous bulk sample that was being milled then somehow regressed to being mined then the permit went missing. Total bunk - a bunch of jokers who squander investors money and the future of what could have been a good project.
"During the month, the mill processed 794 tonnes in one day, exceeding the maximum theoretical capacity of 775 tonnes per day as published in the 2011 Prefeasibility study."
I says what? Could you say that again please.
"Bachelor Mill, a fully functional 1,200 tpd capacity mill with proven gold production. This coming Spring of 2013, the mill will ramp up to 60,000 oz. annual production using only 66.7% capacity."
Wait I thought you said...
"The Bachelor mill is currently pouring gold and is presenting ramping up to achieve eventual annual commercial production of 60,000 ounces of gold, using only 800 tons of its 1,200 ton mill capacity."
The grade is nowhere near what is required so they need to be pushing 1200 tpd, everyday not 775 for just one day. Sounds supsicously like other releases like when they poured a record gold bar, justas this is it was an anomoly not a ramp up to bigger and better things. Behavior that deserves a spanking, if it was still allowed...
I understand that if you read it very carefully it's technically not lying but it is certainly slight of hand using old information as a present day comparison for performance.