One of the problems with producing miners is that they have a reputation to live up to every quarter. An explorer can go through a quiet achievement period and get forgiven, as long as it comes up with a cool hole or aneconomically robust PFS after a while, but a producer is judged every quarter on what it does.
With that preamble done, here are a couple of charts for Minera Andes' (MAI.to) and production at its 49% owned San José mine in Argentina, including the 1q11 numbers that hit the wires just a few minutes ago:
Silver production per quarter
Gold production per quarter
Mineral throughput per quarter
Put simply, gold and silver grades were good but the whole shebang has been let down by crappy production numbers at the mine. MAI.to and HOC.L at MSC: Snatching defeat from the jaws of victory since 2009. Leguis served, the end.
UPDATE: Ok ok if you insist here's a disclosure, but for Pete's sake this is a blog, not something worth trusting, so stop being so freakin' anal all the time. Your humble scribe holds no position in MAI.to but might think about buying a bit if it drops far enough. Subscribers should understand why cos we went into the numbers in more depth back in IKN101 a couple of weeks ago. Happy now? Jeesh...
UPDATE: Ok ok if you insist here's a disclosure, but for Pete's sake this is a blog, not something worth trusting, so stop being so freakin' anal all the time. Your humble scribe holds no position in MAI.to but might think about buying a bit if it drops far enough. Subscribers should understand why cos we went into the numbers in more depth back in IKN101 a couple of weeks ago. Happy now? Jeesh...
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