The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: My first question has to do with the record throughput days. I'm seeing 1,400 in September, we knew that, and then 1,537 in October. Can you
discuss the underlying factors that drove this throughput and whether or not you can replicate this over longer periods?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: My next question has to do with the cost. So, I see costs were significantly lower quarter-over-quarter. And, of course, you mentioned that you
expect some compression in unit processing costs as the ramp up continues, but yet I'm looking at Q -- the guidance, and if we hit the midpoint
of guidance, that would imply Q4 costs are going to be higher than Q3. So, if you could just help me understand why were Q3 cost lower? And is
that what you're kind of expecting, then we should see slightly higher costs in Q4 per the guidance?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. That makes sense. And...
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Okay. Yes, well, it's interesting to see the lower cost when the sector is facing these inflationary headwinds, so thanks for that color. My final question.
I heard you mentioned that there's a record surge of the Delta variant in PNG right now, does the updated guidance adequately address whatever
contingencies on production and costs that this may result in? And as an investor, how should we be concerned about this?
Question: Don DeMarco - National Bank Financial, Inc., Research Division - Analyst
: Good luck in Q4 and beyond.
Question: Andrew Rostislav Mikitchook - BMO Capital Markets Equity Research - Analyst
: John, congrats on a good quarter. You've already partially answered my question with your comments about the ramp up in mining, but maybe I
could ask you to just kind of frame the level of mining development you have, maybe in terms of weeks -- stope development in weeks ahead of
schedule, ahead of your current plan? And how you see that expanding over the balance of the year here and into next year as you ramp up to the
year mining rate required for Phase 2A?
Question: Andrew Rostislav Mikitchook - BMO Capital Markets Equity Research - Analyst
: Kind of you've got about a year's runway here to get up to that 500,000 level -- 500,000 run rate with...
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