Maya Gold and Silver (MYA.V) has now poured two batches of silver for a total production of almost 23,000 ounces of silver with a market value of approximately $400,000 in just the first 34 days of operations. This is a very decent result, considering the first silver pour of 7,500 ounces was the result from milling low-grade ore (with an average grade of less than 2 ounces per tonne), and the second batch was still a blend of ore coming from ‘ancient’ stockpiles and underground ore. The average head grade was approximately 230g/t which is quite good, given the mill recovery rate of 87%.
As the ramp-up is continuing, we expect an increased rate of underground ore being processed which will increase the average head grade and thus the output. As the previous silver pour was on September 10, we are expecting another pour later this week, and anything above 15,000 ounces would be considered good.
We really like the fact the company is doing its best to keep the market updated, and we are looking forward to see more updates every few weeks to determine is the ramp up is still going in the right direction. Everything seems to be running smoothly right now, and the Zgounder mine is a perfect example of a past-producing silver mine which was reopened at a very low initial capital expenditure.
> Click here to go to the company’s website
Disclosure: The author holds no position in Maya Gold and Silver. Please see our disclaimer for current positions.
