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markeddo

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23/04/18

15:33

Post #: 32632321
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Originally posted by Peacegirl69 ↑

Hi All

I want to summarise my post:
1. At current 50% production and 1x 5 hour shift a day the maximum OGX could mine in any given month running with ZERO delays and running 25/days a month is 1562 tonnes a month (this takes into account zero delays, where in Feb and March actual delays attributed to a 60% reduction in output against targets of 1500 tonnes)
2. To achieve 1000 oz a month at 15 g/tonne (high grade ore running through mill factoring in some dilution) OGX would need to process 2067 tonnes a month. The ONLY way this amount of ore could be processed in a given month is to increase current milling production levels. Example: Running 1 x 5hr shift a day, 25 days a month, at 25 tonne/ hour- yields 3124 tonnes of ore processed a month.

In Feb and March, delays and breakages attributed to 60% of the time the mill not working. Lets say OGX management can do an outstanding job and reduce these outages and delays in one month by 50%. This would mean based on 70% production, if OGX were running point 2 above (3124*0.70) would get 2186 tonnes of Ore in April- this is running at 100% capacity 25 t/hour for 1 shift a day.

But we already know from the latest HM3 announcement that for nearly half of April, they have been running at 12.5 Tonnes/ hour and 1 shift a day! Lets assume OGX is able to reduce outages and delays by 50% from the Feb and March result, but only maintain 50% capacity and 1 shift a day. Then we are looking at 1562 *0.7= 1093 Tonnes for April.
At 15 g / tonne= 529 oz of gold for April.... imho this is what OGX need to aim for at a minimum. Reduce their outages by 50% for the month of April, and have the HM3 drill run 25 days a month in April, at 12.5 tonne/hour for 1 x 5 hour shift a day....

Any oz above 529 for April would be a great result. You can extrapolate these figures out, for output of oz to get beyond 1000 oz a month, they need to iron out all bugs in the HM3, and get it running 2x 5 hour shifts a day (OR install the 50 tonne/hr HM4 and run that at 50% capacity but this now not happening til May- when OGX said this would be delivered onsite in March!)

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I think 'she' might be a reincarnation of U36962521 who has been unable to get back onto the OGX or HAS threads but now luckily Peacegirl has appeared with similar sentiments.

OGX Price at posting: 7.8¢ Sentiment: Hold Disclosure: Held
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ogx sp talk, page-25

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