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saildone

07/29/16 6:04 AM

#20901 RE: resourceinvest #20900

Not sure it deserved a response but surely helped clarify something for me. Thanks
I've never got why; Silver is accounted for as a by-product credit in costs applicable to mining revenue. It's an accounting tactic that always left me wondering. Granted that if they poured a couple of thousand oz of gold and sixteen thousand oz of silver then the silver would only account for about another 13 GEO so it wouldn't move the needle very much.
Still, the company tends to announce having poured X GEO during a given period. It is GEO when talking to the investors but gold with a silver byproduct in their accounting.
Welcome back, hope you had a good trip.

wshaw14

07/29/16 6:17 PM

#20903 RE: resourceinvest #20900

Silver ounces converted to gold equivalent are dollars also. I never ignore sources of income. Silver even if not contributing much in one period of time can contribute much at another. The gold and silver price ratio could get a whole lot better. At the current price 3004 ounces equiv ounces over $4M. Not a lot. Not huge, but not to be ignored.