All, check my math but……and if I'm wrong or go
Post# of 12259
Posted On: 10/08/2015 2:18:20 PM
All, check my math but……and if I'm wrong or got something mixed up let me know
31.03 grams of gold = 1 troy oz.
Keystone showing (per CC) 6-12 grams per ton. Take low end 6 grams per ton.
5.171667 tons to make 1 troy oz. of gold. (31.03 grams = 1 troy oz…so take 31.03 grams and divide by 6 grams…this of the low end 6 grams per ton – per the CC. So to get one Troy oz. of gold would need to process 5.171667 tons).
Per contract, 30,000 tons are to be processed initially.
30,000 tons divided by 5.17667 (the amount of tons to be processed to get 1 troy oz) = 5,800.838 troy ounces can be “processed” from the initial 30K tons.
5,800 oz times $1K per = $5,800,837.90
Per agreement, MNGG gets 25% cut = $1,450,209.47 of the gold sales processed out of the initial 30K tons the agreement calls to be processed by First Nevada Mining company.
This on low-end 6 grams per ton mentioned in the CC. How many tons are at Keystone to be processed?
Keep in mind there are contractual obligations, vis-à-vis, the time frame that 1st Nevada HAS TO MEET (call it a deadline) to process these 30K tons.
So if true – Joel needs to show this proof by “end of next month worst case” of the beginnings of revenues.
TIA ALL
31.03 grams of gold = 1 troy oz.
Keystone showing (per CC) 6-12 grams per ton. Take low end 6 grams per ton.
5.171667 tons to make 1 troy oz. of gold. (31.03 grams = 1 troy oz…so take 31.03 grams and divide by 6 grams…this of the low end 6 grams per ton – per the CC. So to get one Troy oz. of gold would need to process 5.171667 tons).
Per contract, 30,000 tons are to be processed initially.
30,000 tons divided by 5.17667 (the amount of tons to be processed to get 1 troy oz) = 5,800.838 troy ounces can be “processed” from the initial 30K tons.
5,800 oz times $1K per = $5,800,837.90
Per agreement, MNGG gets 25% cut = $1,450,209.47 of the gold sales processed out of the initial 30K tons the agreement calls to be processed by First Nevada Mining company.
This on low-end 6 grams per ton mentioned in the CC. How many tons are at Keystone to be processed?
Keep in mind there are contractual obligations, vis-à-vis, the time frame that 1st Nevada HAS TO MEET (call it a deadline) to process these 30K tons.
So if true – Joel needs to show this proof by “end of next month worst case” of the beginnings of revenues.
TIA ALL
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