Who Here Knows Conversions?
"The total weight of silver is equal to 248 kg and 7,973,507 Troy ounce silver ingots."
I read this as: 248 kg = 7,973,507 Oz (troy)
Actually: 1 g = .3215 Oz (troy)
So 1 kg = 32.15 Oz (troy).
So there is either:
248 kg = 7,973 Oz (troy)
Or 248,000 kg = 7,973,000 Oz (troy)...
Must Be 248,000 Kg because of another statement in the release:
"There is a total of seven million ounces of silver, 121 proven ounces of gold."
However, another statement is contridictory...
"There is also 1 gr/ton of gold that equals 128.605 Troy ounces of gold ingots."
So in other words: 121 Oz (troy) = 128.605 Oz Troy...
But lets do some back calculation to try and figure this out... As they said there is 1gr/ton (assuming gr of Au per ton of tailing material...)
Everyone knows that a gr is a GRAIN (and not a gram)... So that leads us to the point that there are 4,000,000 grains of Au in all of the tailings - that converts to 61.73 g of Au or a little inder 2 Oz (troy) of Au in the entire lot of tailings... That can't be right!
OK - Let's assume that they think that a gr is a gram... At 1g/ton and 4,000,000 tons that leads us to 4,000,000 g Au or 128,600 Oz (troy) of Au...
NOW I AM ALL MIXED UP!!!
These numbers are not making sence to me! I do not claim to be an expert - but I did stay at a Holiday Inn last night... Not really... But I did have to pass an Extractive Metallurgy course in Colledge - And these mass ballance calculations are not making any sense.
That Said... I have money to invest - but am not going to invest in a company that cannot do mass ballance calculations without messing up to the third decimal place...
Hey - let me work on that theory - they are off three decimal places... Maybe that means that the $ figure they are quoting is also incorrect to the 3rd decimal and they are only looking at $200/month instead of $200,000...
Please show me the err of my ways... I do not claim to be perfect... Colledge was a long time ago...
