Mark Learmonth: So it should make about a $1 million a month perhaps for to say, 2.5 years based on what the resource, the oxides that we know exist. But please, I don’t want people to start sort of thinking that we spent effectively $65 million on a project that is producing at best sort of 1,500 ounces a month, 2,000 ounces a month. That’s not the case. That is actually unexpected cash flow that we hadn’t factored in into our evaluations. A question about any plans to improve the liquidity of the shares on the VFEX. Our shares may have traded once on the Victoria Falls Stock Exchange. I don’t know what we can do about it. We got down to our brokers to make it work. You can’t create liquidity without the existing owners selling.
So we need to get the existing owners to sell, but they don’t want to sell. And they seem to be wanting to accumulate positions. So I’m not sure what we can do about that, but I’ve got to say it’s not something that particularly keeps me awake at night. We are positioned in Zimbabwe as such that we have institution investors who want to buy our shares as and when they have liquidity that’s available. Okay. A question here is the government policy on ForEx retentions. So previously, the government policy is that €“ previously the government policy was that if you had incremental production as we do, we’ve got incremental production, we’ve increased production from what, 57,000 ounces in 2020 to about 81,000 ounces last year. And under the previous €“ under the rules that applied previously, that incremental production, if you were listed on the Victoria Falls Stock Exchange, you’ve got a 100% of the revenues arising on the incremental production in U.S. dollars and the balance in local currency.
And so on that basis, we went off and listed on the Victoria Falls Exchange. The rules have now changed. So under the previous regime, our blended average split of currency, local currency to U.S. dollars was about 72% in U.S. dollars and the balance in local currency under the regime that was announced a month or so ago in respect of existing operations, that’s now moved to 75% in U.S. dollars and 25% in local currency. So it has improved very slightly. And it’s also fair to say that we do not accumulate a pile of Zimbabwe dollars for which we’ve got no purpose, if anything at any point in time, we are typically overdrawn in Zimbabwe dollars, okay. So that’s the first question I’d like to address. We believe that we have the change in the regulations, which then effectively unwound that relaxation such that if you moved from the Zimbabwe Stock Exchange, which is a local currency denominated exchange to the Vic Falls Exchange, which is a U.S. dollar exchange.
People were doing that, even though they’re domestic companies with a view to trying to get increased revenues in U.S. dollars, our understanding still is that for the Bilboes project, we will get a 100% of the revenues in U.S. dollars. So whilst the change in policy may have taken the shine a little bit off the Victoria Falls Exchange, we don’t believe it affects our position going forward. So I can’t comment on other people’s aspirations and why other people might want to listen to the Victoria Falls Exchange. That’s their business, not our business. What I’m saying is that so far as it affects us, the policy change as far as we are aware, does not affect us. A question about to what extent the ore mine has been mined out? I understand this is a large ore body conducive trackless mining.
What is the predominant mining method going forward for the next couple of years? That’s the question. Dana, could you answer that?
Dana Roets: Ore mine is basically mined out, this low grade stuff big and €“ so our ore mine want to extend and it doesn’t really feature in future production. Yes, it was large ore body up to 50 meters wide. And we use long-hole stoping in ore mine body. Going forward as far as mining methods are concerned, it will stay a hybrid method. We sort of got a rule of thumb when stoping width are below 4.5 meters, we are doing underhand stoping. And if it is wider than that, we are looking at kind of long-hole stoping doesn’t always mean it’s suitable for long-hole stoping. But generally between 4.5 to 6.5 meters, we start changing over two long-hole stoping and it varies. AR is predominantly long-hole stoping, Blanket ore body, it’s a combination right in the middle where the juicy stuff is that’s long-hole stoping and on the edges, it’s underhand stoping.
And then you see similar sort of vibrant methods going to Eroica and Lima, Lima is predominantly underhand stoping. And then at Eroica, we also have some wider areas where for combination of long-hole stoping and underhand stoping.
Mark Learmonth: The question is to why the forecast guidance range for Blanket lower than the 2020 achieved. The guidance range that we put out, I think for Blanket in 2022 was I think 72 to 80. This year it’s 75 to 80. Blanket is a steady state operation. We see little prospects to increase production above 80,000 ounces. So it’s a realistic assessment as the Blanket should be able to do between 75 and 80, whether it’s the bottom end of that or the top end will just depend on the ordinary wagerers of mining. I’m sure the person who asks the question understands. Chester, there’s a question about the increase in the overdraft or the overdraft. Do you want to talk about the overdraft in Zimbabwe?