John Tumazos: Thank you. Concerning the mill at El Gallo and the ramp at Stock, could you give some indication as to what month in 2024 or early or late 2023 that might begin production and what the monthly production rate might be?
Rob McEwen: Bill, could you address that question?
William Shaver: Yes. So, with regard to Fenix, we anticipate that we would have that plant running, say, in the first quarter of 2024. And the tonnes per day is somewhere around 3,500 to 4,000 tonnes a day. And with regard to Fox and the start of the ramp there, what we hope to be able to do is to construct the portal in the last quarter of this year and then be in production sometime in the first — late in the first quarter or the second quarter of next year from ore that’s relatively close to surface that we have been drilling feverishly over the last couple of months. I guess, basically what I’m saying is that there is ore very close to surface, which will take something less than three months to develop. And then, we’ll continue driving the ramp down towards — well, towards Stock West, but also with a possibility of heading to Stock East where we also have some ore that’s relatively close to surface.
And of course, as you probably know the better ore in the Stock West deposit is quite deep anywhere from 200 to 400 meters deep.
John Tumazos: Bill, if I could follow-up. Maybe it’s too much to ask you what the gold output could be in 2024 from Stock since you’re still infilling the gold to finalize the grade. Concerning El Gallo at 3,500 tonnes per day, how much gold per month or per quarter would that be given the grades and recoveries?
William Shaver: With regard to Fox, we anticipate that we would be able to continue production at the same rate as we are planning for 2023 at Fox. So that’s somewhere in the range of about 4,000 ounces per month. And to tell you the truth, I don’t remember the production number from El Gallo, but it’s (ph)…
Unidentified Company Representative: 1,500 a month?
William Shaver: Yes, it’s about 1,500 ounces per month from Fenix project.
John Tumazos:
William Shaver: Yes. So, it’ll — from a cash generation perspective, Fenix will be a very, very good project with a relatively short payback period, because we’ve basically worried the capital cost down to something in the range of $12 million.
John Tumazos: Thank you for all those explanations, Michael and Bill.
William Shaver: No problem.
Michael Meding: Pleasure.
Rob McEwen: You’re welcome, John.
Operator: Your next question comes from the line of Bill Powers from a private investor. Your line is open.
Unidentified Analyst: Yes. Thanks for such a great conference call today. But question on the Stock. I know you were planning to do quite a bit of drilling and it sounds like from Bill’s recent comments that you’re planning to drive a shaft down and then start producing ore. I guess, is this at the point where Froome production is I guess continue to go forward? Or is this going to be produced along with Froome?
