I'm stronger in the exploration end than the mining/production end, so I'm not going to question your logic or your math.
But.....as you point, the assumptions you reference are based on company-supplied information. The company CANNOT be relied on for accurate info, for a thousand reasons, as you know. No audits, no qualified professional, no credible technical reports (other than the Bonanza reports), and contradictory information (tonnage and grade of the Terrerros, the mileage to the plant, two examples).
That's why I generally avoid getting my calculator out or strain by brain by running numbers on these penny stock scams. Garbage in, garbage out.
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