Re: Questions anyone?
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Message: Questions anyone?
Of the top of my head not sure of the actual distance by road to the main road. I have it some where I will try and look that up for you or perhaps someone else knows? thanks.
Interesting you asked about the Gold equivilent. I am not a good numbers guy and to be honest I don't have a firm enough grasp to comment on it and I never want to mislead anyone, intentional or otherwise. But I am in contact with another poster from another board and I am sure he will not mind me posting this here I will leave him anonymous. Please don't ask me to respond to his numbers as really I can't. This was sent awhile back when gold was near $1,000.
Comparing ttm to an open pit sulfide gold mine
In the gold industry economic models for feasibilities are say in the $600.00/ounce
versus the $1000/ ounce price range.
In the molybdenum models they are using about $15 to $18 per pound
versus the going price of about $34/ pound
Interesting that the percentage price for modeling is roughly the same percentage
for in ground for both commodities. So to get a comparison of grams/ tonne
equivalent in the ground for gold in this open pit scenario will be close.
We have 655 million pounds open to depth and direction. So for a rough number
say we have about 800 million pounds at about $34/ pound = $27 billion in ground
At $1000 gold price thats equal to about 27 million ounces of gold.
Our average grade through the entire pit = about 0.065% grade molybdenum
0.00065 x 2204 pounds x $34 = $48.71 value per tonne excluding other credits.
An ounce of gold at $1000/ 31.1 gms per ounce = $32.15 / gm
Logically one could conclude that if we move the roughly high grade
300 million pound zone to measured and indicated we would have the
following equivalents.
10 million ounces of about 2gms/ tonne equivalent for start-up measured and indicated
17 million ounces of inferred gold 1.5 gms/ tonne eqivalent inferred.
THE FIRST ten years we could mine 1 million ounces of gold / year and
do this for 27 years
BBOB
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