Tonogold Resources Inc (TNGL)

[surebob]

The drilling results so far indicate that Ponderosa “will provide the feed necessary to sustain a production rate of over 360,000 tonnes of iron ore per annum for at least 5 years.” That comes to at last one million, eight hundred thousand tonnes of iron ore at just two of the anomalies located at the mine site. At an iron ore price of $80 a tone, these anomalies are capable of providing a projected estimate of forty four million, five hundred sixty eight thousand dollars in profits to Tonogold, over five years

Is that assumption before or after a 18% haircut off the top of 58% Fe price which is about 12 dollars below 62% spot price?

Doesn't look good for a profit, if any at all