I have a good feeling about all of this...
http://miningglobalinc.com/mining-global-rele...-update-2/
- 112 oz of gold recovered from 1120 tons of congress mine ore in a matter of 3 weeks?
if that amount were to be continually recovered that would equate to:
5.3 oz per day
37.3 oz per week
149.2 oz per month.
lets not forget that the mine owner is entitled to half of the recovered amounts. leaving mngg with 74.6oz in revenues from congress. at current gold rates - $1,172 per oz, thta would be $87,000 per month from this mine. I know that doesn't seem like much, especially when during this time the avg tons processed per day was 53.3 but remember when Joel said he would try to increase daily ore production to 100 tons? if that were to happen... these figures would be:
10 oz per day
70 oz per week
280 oz per month
$164,080 per month in revs. not too bad imo.
now let's talk about ghana. joel has the potential to process 60 tons per hour with the trommel. while I don't have any statistics as to what the claim was producing we can use metric tons the country was producing back in 2013 - http://en.wikipedia.org/wiki/List_of_countrie...production , as you can see ghana was producing around 85 tons while the u.s was producing 227. ghana had %37.5 of the U.S production rate at that time.
I believe there are more minerals to be found in Ghana, and so does it's government - which has plans to nationalize the entire mining industry to increase it's own revenues. However, ghana has already increased it's corporate tax rate on mining from 25%-35% - which results in a $751 cost per ounce on gold recovered - http://www.ghanaweb.com/GhanaHomePage/NewsArc...?ID=280009 .
While the cost to produce gold in the u.s is about $598 an oz , Africa has more probable and proven ounces than the U.S - taking the lead by 115,734,020 ounces - http://www.visualcapitalist.com/what-is-the-c...ning-gold/ . With this data, we can estimate that the ghana mine has a potential chance at mining 36.5% more oz than congress. However, again - without average production results from this mine we cannot say this is accurate.
If indeed it were though, I believe 7.23 oz recovered per day(*compounding 36.5% on congress recovery*)is a possible amount if joel runs a operation similar to congress and is able to process at the bare mininum 53.3 tons of ore per day. This would equal out to $8,473 per day in revenues. Just don't forget about the 35% tax rate, and all the expenses associated with the mine!
This is my DD and opinion only, there are probably many inconsistencies, I am not a financial advisor and you should use this post in anyway for your investment decision.
http://miningglobalinc.com/mining-global-rele...-update-2/
- 112 oz of gold recovered from 1120 tons of congress mine ore in a matter of 3 weeks?
if that amount were to be continually recovered that would equate to:
5.3 oz per day
37.3 oz per week
149.2 oz per month.
lets not forget that the mine owner is entitled to half of the recovered amounts. leaving mngg with 74.6oz in revenues from congress. at current gold rates - $1,172 per oz, thta would be $87,000 per month from this mine. I know that doesn't seem like much, especially when during this time the avg tons processed per day was 53.3 but remember when Joel said he would try to increase daily ore production to 100 tons? if that were to happen... these figures would be:
10 oz per day
70 oz per week
280 oz per month
$164,080 per month in revs. not too bad imo.
now let's talk about ghana. joel has the potential to process 60 tons per hour with the trommel. while I don't have any statistics as to what the claim was producing we can use metric tons the country was producing back in 2013 - http://en.wikipedia.org/wiki/List_of_countrie...production , as you can see ghana was producing around 85 tons while the u.s was producing 227. ghana had %37.5 of the U.S production rate at that time.
I believe there are more minerals to be found in Ghana, and so does it's government - which has plans to nationalize the entire mining industry to increase it's own revenues. However, ghana has already increased it's corporate tax rate on mining from 25%-35% - which results in a $751 cost per ounce on gold recovered - http://www.ghanaweb.com/GhanaHomePage/NewsArc...?ID=280009 .
While the cost to produce gold in the u.s is about $598 an oz , Africa has more probable and proven ounces than the U.S - taking the lead by 115,734,020 ounces - http://www.visualcapitalist.com/what-is-the-c...ning-gold/ . With this data, we can estimate that the ghana mine has a potential chance at mining 36.5% more oz than congress. However, again - without average production results from this mine we cannot say this is accurate.
If indeed it were though, I believe 7.23 oz recovered per day(*compounding 36.5% on congress recovery*)is a possible amount if joel runs a operation similar to congress and is able to process at the bare mininum 53.3 tons of ore per day. This would equal out to $8,473 per day in revenues. Just don't forget about the 35% tax rate, and all the expenses associated with the mine!
This is my DD and opinion only, there are probably many inconsistencies, I am not a financial advisor and you should use this post in anyway for your investment decision.
