Friday, September 30, 2016 3:30:11 PM
Based on the previous PR, stating 59.1g of gold was found in 6.8 cubic metres
59.1 / 6.8 = 8.69g Au per cubic metre.
500k cubic meters at the going rate of 8.69 = 4.35E6, or 4350 kg Au simply waiting to be processed. I then deducted a massive 25% from the gold, to allow for error (ie,the initial sample being higher in au content than the rest, gold being lost or stolen, and gold that is eaten up during the smelting process) which brings our total down to 3262 kg of gold
Going rate for kg of au is $42,800, which gives us just shy of $140 million for this batch. Does this mean, that with the total shares being available(11billion), the price should be $0.0127 with the announcement of revenue?
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