Seriously, you can't just say you were wrong. The press release say they expect "to recover approximately 850-900 ounces of gold" and does not say specially raw gold. Put when I any mining company says it recovers x amount it is always raw ore recovered - when they say produced x amount of gold it usually means refined ore. This is for gold, silver, iron or anything.
but still not getting your point since your math is still wrong on the $1,000 vs $988. Also, it took me like 10 seconds to do the math to get $1,567 an ounce.
Here is the math again:
850 ounces at a purity rate of 88% leaves 748 ounces of gold. Lets say gold is $1,650 and assume a discount of 5% would be $1,567 per ounce. so, 748 multiplied by $1,567 equals $1.1 million. Which is approximately $1 million.
So, the price of gold would be $1,567 per ounce of gold. Now if you are claiming that you meant raw ore then say you meant $1,000 so did not mean to mislead anyone.
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