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Sunday, November 18, 2012 9:41:15 PM
You are also assuming you can recover 100% of the gold during processing - that isn't accurate. Goldcorp recovers at best 70% in all of it's Mexican operations.
Also, in a gold mining operation silver is considered a by-product and the recovery process is extremely low.
So, 90,000 grams = 3174 ounces of gold (100% recovery)
If you use 75% it goes to 2380 oz.
If there is a JV you have 1,190 oz of gold which would yield approximately $2,023,425 million REVENUE that doesn't take production costs into account etc.
A couple of things that need to be verified are for a open pit or surface mine 5.0 grams/ton is extremely high grade and much higher than I have seen for any open pit mines in Mexico.
The second thing I would immediately do is check and see if "Rising Star Mining" is a real company and if they are pick up the phone and verify they have entered into a JV with ABOT.
I would verify everything that ABOT issues in a press release.
IG
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