"Management also restates the gross dollar value of the gold produced fromt the Pride of the West Mill. At .35 ounces of gold per ton, and a price of $1,400 per troy ounce, that represents approxametly $500 million in gross value, and at .8 ounces per ton, gross value of gold would be in excess of $1 billion..." Amounts could reflect a CGFIA shares price of .016 and .03 IMO
Verified that the permit is for 20 years till 2032...TLTQ
That is a grossly misleading and incorrect statement regardless who made it. For one fact, POW isn't a mine and does not produce it's own ore, Cgi has no producing mines and the biggest point to prove that false is that the mill would need other mines not owned to process ore. The only income from all that ore would be milling fees which would only account for roughly less than .05 percent of finished product completely. The gross value is with the client not POW.
This from Nvtaylor, with 35 years as a Mine Geologist and Engineer, who unfortunetly won't post on the cgfia board any more:
Typical toll mill senario is the client is charged per ton for milling. All the metal is his except for a small quanity, something like 0.02-0.05 Au opt/ton is for the milling company.
The toll mill pays all expenses for the mill. Only profit is from the milling charges and the deducts (the 0.02-0.05 part).
Back to trying to keep it real.
Go upcoming S-8 CFO, CEO compensation stock packages ...
Go AM-04 for another year of stock dilution ...
Go cgfai -$
No one's going anywhere. lol
AI
