Further ounce considerations (sorry for the lack of editing)
Savkino states in the gold project article:
The mine produced 3,231oz of gold by the second quarter of 2011 and is anticipated to produce 21,000oz of gold in 2011.
Are these guys serious? Sedar MD&A shows:
Gold production in the three and six months ended June 30, 2011 amounted to
2,638 and 3,231 ounces, respectively
Specifically;
593 Q1, and;
2638 Q2
Obviously Q1 2011 was a bit of a disaster.
In 2010 they produced 16,000 ounces. Their 21,000 projection suggests 17769 ounces in the second half.
This is a marked uptick in production for Savkino.
San Juan did 19,200 in 2010.
San Juan guidance remains at 20,000-24,000 ounces for 2011.
They did 8,735 in the first half of 2011.
Lamaque guidance remains at 45,000-50,000 ounces for 2011.
Lamaque has done 9,557 ounces during the first half of 2011.
All three mines combined...based on their maintained guidance equate to:
Savinko = 21K
San Juan = 20K-24K
Lamaque = 45K-50K
Total 2011 guidance (86K-95K)
As at first half we are 3231+8735+9557 = 21,523 ounces
Their maintained guidance suggests that they would need to do 65,000 ounces in the second half.