07.14
Quadra announced Q2 operating results, producing 29.7MM lbs of Cu and
18,031 oz gold from Robinson and Carlota. Forecasts for 2009 copper
production at Robinson and Carlotta have been reduced to 130MM lbs and
35MM lbs from 140MM lbs and 50MM lbs respectively.
Blending issues at Robinson resulted in recoveries declining to 56.3% in Q2
from 75.4% in Q1. Access to hypogene ore at the Veteran pit was restricted
due to pit wall stability issues. A plan agreed upon by MSHA has been put
in place to resolve these issues going into Q3.
Carlota produced 6.8MM lbs Cu, below estimates due to a reallocation of
mining equipment to complete the Pinto Creek diversion. Leach flow rates
were also 20% lower in Q2. A segregation of fines in the heap is one of the
possible causes. Guidance for 2009 is reduced 30% to 35MM lbs Cu.
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