A Very Special Update! – Thu 12 Oct, 2017

Operation Update from Rye Patch Gold

 

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Rye Patch Gold Corp via auth.ccsend.com 

Oct 11 (1 day ago)

 

RYE PATCH GOLD ANNOUNCES FLORIDA CANYON MINE PRODUCTION
Vancouver, British Columbia, October 11, 2017 – Rye Patch Gold Corp. (TSX.V: RPM; OTCQX: RPMGF; FWB: 5TN) (the “Company” or “Rye Patch”) reports its production results for the third quarter of 2017 (Q3) at the Company’s flagship Florida Canyon mine in the state of Nevada.
Production Highlights for Q3 (compared to Q2, 2017):
  •  Gold production increased 13 percent to 7,982 ounces (ozs);
  • Gold sent to pad increased by 45 percent, averaging 7,125 ozs per month;
  • Ore tons mined increased by 57 percent for the quarter, averaging over 810,000 tons per month (tpm);
  • Strip ratio decreased 56 percent to 0.54;
  • Ore tons crushed increased by 29 percent, averaging over 660,000 tpm;
  • Gold grade increased by 10 percent to 0.011 ounces per ton (opt) (combined ore and sub-grade overliner);
  • Gold ounces placed on the South Heap Leach Pad (SHLP) in Q3 represents 52 percent of the total gold to date; and
  • Production transitioned from the first starter cell (Section 1A) of the SHLP on to the main part of the pad (Section 1B).
“Gold production realized in Q3 was below expectation for the reasons outlined in our September 14thnews release” stated Rye Patch President and CEO William C. Howald. “The corrective measures put in place by management as described in that news release are now having a positive impact on improving gold output with the goal of realizing commercial production in Q1, 2018. Other aspects of the mine are performing well above plan. We are pleased with the improved fleet availability, mining and crushing rates, and the positive reconciliation in grade and tons with the resource block model. In addition, the gold recovery is behaving as modelled.” added Howald.
Please read the rest of the release and see tables and charts here.
Thank you!

THIS IS NOT  TO BE CONSTRUED AS INVESTMENT ADVICE


Featuring:
Al KorelinBill Howald
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Comments:
  1. On October 13, 2017 at 10:06 am,
    Excelsior says:

    Things are continuing to move the right direction for (RPM) Rye Patch Gold, and they’re on track to keep increasing production where they’ll finally be in “Commercial Production” by Q1.

    Big Al – If you interview Bill, it would help the markets to know:

    Do they need to do any remaining capital raises before the Commercial Production starts the beginning of next year, or if they are good based on the money that they have on hand; combined with the production they are realizing during their ramp up?

    Also, if they aren’t in “Commercial Production” at this point, then how are the classifying the revenues being brought in from Gold sold in 2017 on their balance sheet?

    Thanks and Ever Upward!

  2. On October 13, 2017 at 2:15 pm,
    Imtiaz says:

    Excellent question Excelsior. I hope management prioritizes getting to commercial production in a safe, cost efficient manner without burning cash needlessly. Now is the time to deliver results more than ever with the market watching managements every move due to the reoccurring delays of achieving commercial production and the resulting negative mood of investors.