Brookmount Exploration Inc (BMXI)

[chemist72]

Been curious about the photo of 6 gold discs posted on Brookmount’s Twitter account, ever since I saw them (pic below).

BMXI's Gold Disks pic

In this post I would like to try and answer the following questions based on my knowledge as a chemist and using simple formulas and conversion factors that can be found online or in most high school texts:

1) Does the picture posted tell us anything about whether or not the items pictured are truly “pure” gold? My simple answer is “Yes it does”.
2) My second question is what are the units for the numbers written on the disks? The most obvious choices would be either ounces or grams. The answer to this question is actually related to question #1 as I will explain below.
3) What is the value of the disks in the picture? Once I sum the weights and convert to troy ounces, I will multiply that times the average price of gold say in 2018.
4) My fourth question is can I extrapolate the production results in the picture to a full year’s worth of production? My simple answer is "Yes" based on a production cycle of 6 weeks and approximately 8 cycles per year.

There are many ways to verify the chemical composition of any substance. To get a certificate of purity for gold, for example, a chemical analysis would be required at a certified testing laboratory.

Without a full-fledged chemical analysis, there are a couple of other ways to assess whether or not the disks in the picture are really gold.

First, gold has a very distinctive color. No other element has its yellow appearance. Also, having a few gold coins of my own, I can say the disks in the picture absolutely look like gold. Don’t think anyone would disagree with that. Second, gold has the 5th highest density of any element in the periodic table. The density of gold I will use in my calculations below is 19.3 g/cc (grams per cubic centimeter).

So first, let’s get to the numbers written on the disk. One way to tell if the numbers are in grams or ounces would be to calculate the volume occupied by each disk using the density of gold to convert mass to volume. So as not to make the calculations too complicated, I will use approximations as noted. The 4 largest disks have an average number of 2,065. I will use 2,000. 2,000 grams of gold would occupy a volume of 100 cc (approximately). On the other hand, if those numbers represented ounces, then 2000 ounces of gold would occupy a volume of 3100 cc (approximately). That is because 1 troy ounce of gold is the same as 31 grams of gold (i.e. that’s the conversion factor between grams and troy ounces).

Now what is the volume of one of those 4 larger disks? I don’t know, but thanks to that marker in the picture, I can estimate the diameter of those disks as about 4” or about 10 cm (approximately). To get the volume of the disk I need to use the following formula: V=(pi)r2h. So to get a volume near 100 cc (if the numbers are grams) each disk would have to be ½” or 1.25 cm tall. To get a volume of 3,100 cc, each disk would have to about 15” or about 38 cm tall. Clearly from the picture those disks are nowhere near 15” tall. Therefore, the numbers written on the disks must be in grams.

Now the value of those 6 disks. If I convert the total grams of gold in the picture (11,180 approx.) to troy ounces, then I get approx. 360 troy ounces. In 2018, the average gold price was $1,268.49. Therefore, 360 troy ounces of gold would have been worth $450,000 (approximately) if sold at the average gold price in 2018.

https://www.statista.com/statistics/268027/change-in-gold-price-since-1990/

Finally, can I estimate the revenues from a full year of production of disks similar to those in the picture?

Well, if it took 6 weeks to produce the 6 disks shown in the picture, then maybe I can estimate about 8 production runs per year. If so, then the revenues produced from this one leach pile would be about 8 times $450K or about $3.6M.

However, the company stated on that 12/7/18 picture that they were "expanding via new pads and new land". Therefore, I will just wait to make any revenue predictions until BMXI releases more info in this regard.