"I think so too, sir"
Eugene Ionesco, Rhinoceros
On April 12, 2016 Newmarket Gold published its production results for the first quarter of 2016. Below you will find a short description of 1Q 2015 events.
As my readers surely know, Fosterville is Newmarket flagship property. Results delivered by this operation have huge impact on the company's overall results. The table below presents basic operating measures:
Well, to be honest, there is really nothing to discuss - Fosterville continues its excellent performance. O.K., maybe one thing that is not so obvious - Newmarket is mining less ore (the line "Tonnes milled") and is extracting more gold at Fosterville. It means that apart from producing more gold, the company should report lower costs of production (less intensive mining = lower costs).
As the chart below shows, Cosmo is delivering nearly the same results from one quarter to another:
Stawell is lagging behind the other mines. Well, the company is currently still mining in the West Flank of the Magdala System, an area of decreasing / stalling production. I think that as long as Newmarket does not start production at the East Flank, there will be no spectacular results.