Assuming gold price at 1500 per ounce and cost of extraction is $ 350 p/t then I can see where 6 to g p/t comes from however this does not account for overheads taxes etc. Personally I think $ 350 as a cost of extraction is too low specially in the start up phase. Realistically speaking I still think that it should be in the region of 8 to 9 ounces which is comparable to the South African mines remembering that their labor and other costs are comparatively lower. For anyone interested I have made up a spreadsheet where you can change some of the variables to arrive at EPS. Drop me an email at Major747@hotmail.com with I HUB in the subject line and i will send it to you. Gd Nite till tomorrow.
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