Replies to post #82478 on North Bay Resources Inc (NBRI)

[gemstone57]

NBRI Gold sells much higher than spot prices

[foxwoodsfan]

Where did you come up with that production cost number and how does it apply to NBRI?

[Spanky227]

Yeah you just pulled those numbers out of thin air.

Here are the facts:

Each mining crew needs to generate 10 ounces per week/shift to stay above costs.

Each mining crew can harvest 25-35 tons per day per shift.

25 tons X 4 days per week = 100 tons/wk
35 tons X 4 days per week = 140 tons/wk

At .1 opt Ruby mining is break even to profitable so they would spend $12,000.00 to mine $12,000.00.

Traditionally the Ruby averaged .114 opt which would mine anywhere from 11.4 - 16 opt per shift.

Running 2 shifts will increase production to 22.8 - 32 ounces per week.

Over time as we improve efficiency we should be able to approach 50 tons per day per shift moving the total ounces per week to approx 45.6 on average. 400 tons per week X .114 opt.

Again with costs approx 20-22 ounces per week. This would profit 25.6-23.6 ounces or have costs under $600.00/ounce.