AI
Monday, December 10, 2012 11:10:24 AM
This property KATG has was a previous 8 level deep underground Mine built owned and operated by the second largest gold produce in the world, also this company was NYSE listed!
'Ashanti Goldfields'
The North Bibiani was last a working mine when gold was 30 dollars a ounce.
LOW GRADE THEN - HIGH GRADE NOW
The cut off grade when gold was that price was so high it would be a very high grade today with gold prices as high as they are.
The 'cut off grade' is a % of gold in the ground that is economic or feasible to mine. Everything else below that level is still left in in the ground.
The cut off grade when gold was 30 dollars a ounce at a mine operated by a well known large historic company like Ashanti are the highly valued kinds of historic mines where companies know what others long long ago have left behind can be very profitable mines to re open today.
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