No, they are saying they have sufficient ore to do
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Posted On: 03/25/2019 6:47:25 PM
Re: InvestWisely #367
No, they are saying they have sufficient ore to do 3500 tons per week. At a recovery rate of 100% (which isn’t likely), that would be approx 1800 ounces per month. More likely the recovery rate will be closer to 60-70% so you would be looking at approx. 1080- 1250 ounces per month. It’s could be lower or higher, depending on the recovery rate and actual grades, and whether or not Mr Murphy pops up somewhere. It’s a safer bet to lean towards the conservative estimates.
Spot price of gold is currently around $1320 per ounce. $1320 x 1080 ounces = $1,425,600 per month, probably closer to $1,000,000 after mining costs of say $400 per ounce. And that’s just a wild guess at the cost of production.
Considering where we were 6 months ago, that would be awesome.
Spot price of gold is currently around $1320 per ounce. $1320 x 1080 ounces = $1,425,600 per month, probably closer to $1,000,000 after mining costs of say $400 per ounce. And that’s just a wild guess at the cost of production.
Considering where we were 6 months ago, that would be awesome.
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