Capital Financial Global Inc (CFGX)

[ObviousJoe]

Sorry. My estimates were way off.

In a previous post, I stated the following:

For the math impaired, they would have to move a little over 25 tons for an ounce of gold. The price of gold is hovering around $1200 an ounce. According to their own estimates they hope to recover about $48 in gold per ton. At those estimates they can't even cover fuel costs.

Again, using figures from their own technical report, I completely left out the cost of overburden. Overburden is the waste gravel that sits on top of the gold rich paydirt closer to bedrock. The technical report shows their 1.1 gram estimate at a depth of 95 feet. They would have to remove 95 feet of overburden before they even began to reach and process the 1.1 grams per ton.

Again, 1.1 grams per ton is not enough to cover fuel costs. Now try to figure out how much it would cost to remove 95 feet of worthless overburden before you even got to their estimated 1.1 grams per ton. This mine can never support the cost of recovery at any depth.

Again, my apologies for missing a key figure. It's much worse than I thought.