Simon. I think they have an outside chance at $15 million in revenue this year. 4 dore bars (the larger variety should gross over $1 million each
When Rochester switches to dore bar production they will cut costs, but these bars from V.LAT are just too small for Rochester production needs with over 300k ounces of silver production this year. Since power hookup for the induction furnaces was beginning back at the end of February I hope they opt for the larger molds to keep shipping costs down and I agree 100 % with you walnor. Somebody said their going to need a bigger boat. I concur.
The larger the bars they use the smaller the costs. the only use for the dump trucks will be to bring ore from the other 3 mines. They are going to need extra security though transporting the Dore bars. 6000 or 7000 at that size you say? They need the bigger molds with 300,000 plus ounces of production.
"Hey Wayne I think Rochester will break revenue records once the Dore bars start rolling out the door. They could reach $14 to $15 million in gross revenue this coming year while cutting costs not shipping precipitate and not paying those other costs. Just imagine that tiny bar with 47 ounces of silver with over 300,000 oz Ag of Rochester production will be over 6000 to 7000 silver bars silver alone at that size."
I'm sure for the silver they will use the big molds. maybe the 25kg type. Gold they could use the small mould like this but would still be at least 15 gold bars this size with 3000 oz Au production. I think it will be a large 25kg variety of a gold/silver mix
It was a small one though but it was still worth $276,000 dollars. LAT.v isn't very large either. 5 fold the market cap of here and less producing properties and they had problems at first with the locals. No problem here with Rochester. Still looking for small producers for their change to Dore bar production.
The delivery of the first gold bar to a refinery represents a milestone achievement for the Independencia Mine pilot plant. We've shipped this doré during Paso Yobai's commissioning stage in order to validate pyrometallurgical protocols and to assure minimum refinery specifications for future product”, said Miles Rideout, President and CEO of the Company.
According to the refinery assays, this bar contains 166 ounces of gold and 47 ounces of silver, valued at approximately 276,000 US dollars. This represents a doré of 76.74% gold, 21.75% silver and approximately 2.5% benign impurities, which is well below refinery penalty levels.
“Our first production test is a success. Congratulations to our Paraguayan team”, underlined Miles Rideout.
The Independencia Mine pilot plant was constructed on the Paso Yobai Gold Project to provide a bulk testing facility to assist in quantifying the resource potential of this large epithermal gold system.
The plant is currently processing gold mineralization excavated to 20m depth from the Discovery Trend Target, where mineralization is exposed at surface and has been drilled to greater than 100m depth.
Current Independencia Mine and pilot plant activities include open pit development, up-scaling of the onsite assay laboratory, optimization testing of the Falcon gravity concentrators and the installation of a production-scale pyrometallurgical furnace.
The Paso Yobai Project is a 15,551 hectare exploration and mining property with multiple gold showings evident at surface. Lampa is operating the Independencia Mine Pilot Plant on the Company's 99%-owned permitted mining concession, part of the Company's larger Paso Yobai Gold Project.
Lampa started working four years ago in the midst of serious conflicts with local residents and miners with an original investment of 12 million dollars. Production officially commenced last February.