Certainly great numbers but do we know enough to make even an order of magnitude projection :
first , are you saying each ton gives net of recovery 1 ounce of gold ? that is very high. ( is that the historic average?)
second,that comes out to over 100,000 ounces of gold per year.i assume in $1,000 you are including costs to have resources/reserves ahead of production.( one doesnt just go udnerground and scoop up gold as i am sure you know).
third, whom will they sell gold to and what will be that charge ?their 2009 powerpoint gives recovery percentage of 95% , not sure if that includes any smelter or refining charges.
I quite agree increasing price of gold gives a very good margin potential. Since mine has no established reserves, going into production implies management willing to take a produce based on historic resource reports. Just out of curiosity how many tons have been identified in the old reports, and what is time frame for development to reach those resources .
If grade only 1/2 oz per ton ( still very good),you will see economics change significantly.
how many levels at mine and what is access between levels ?
