It has taken me several days to really digest and think over the information. I needed to really look and then think it through. Nobody clued me into being sure to target the true mined ore figures before I went.
So what has changed after a few days of going over the information is that I really understand the current mined ore value and that to me is overwhelmingly positive. You can sale it to Kenny or pay other smelters to refine it...it is worth millions and it is out of the ground. This is not speculation this is a fact. Anybody can see the videos and pictures of the Hidden Treasure open pit mine. It is all there. No speculation... and best of all no guessing.
I now have decent estimates of the amount of material that has been pulled from the mine and that is definitely a saleable asset. Concentrate or no concentrate this ore is worth millions on the open market due to its Cu percentage and to a lesser extent the Au/Ag contents.
500000T's of grade A Cu ore...very very nice...
I am still trying to verify where its at but it does exist. I just didn't get enough pictures of the ore piles to satisfy me.
Once I understand what this ore is worth on the open market I am sure that will make me see more dollar signs. I am still trying to figure out how to price it accurately. I don't want to guess here. I want to know.
I need to post a note to the board to see if anybody knows the industry methodology or I will be walking over to the neighbors tomorrow to see if the School of Mines can help me out. I will post the pricing question in a few minutes.
Understanding this number will be another positive...it has to be pretty big since the original estimate for the Hidden Treasure was $28M in Cu alone.
500000T mined out of 800000T's reserve = 5/8 = .625
.625 * $28M = $17.5M in mined copper value from the old estimates.
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