RE: RE: Projected Income with gold at $1,250
Goldpet, as you know, there's a lot of assumptions but here it is:
It assumes 1.6 grams per ton (gpt) of Panama ore and 7.5 gpt of Lom Poy ore. The mill in Panama runs 4,000 tons per day average. The 7.5 gpt is from oullins post. The calculation is:
3,000 tons per day at 1.6 gpt = 4,800 grams per day
1,000 tons per day at 7.5 gpt = 7,500 grams per day
Total Grams Per Day 12,300
12,300 divided by 31 grams per ounce = 396 ounces per day
396 x 365 days = 144,540 yearly ounces
I used 1.6 gpt as the ore grade from Panama which works out to around 75,000 ounces per year from the mill and added 10,000 ounces for heap-leach production which is less than the 18,000 ounces per year that the company is projecting. Also there’s nothing in the forecast for silver from Lom Poy. I believe the original drilling at Lom Poy showed ore at 88 gpt of silver. If that’s true, then calculation for silver is
1,000 ton per day at 88 gpt = 88,000 grams per day
88,000 divided by 31 grams per ounce = 2,838.7 ounces per day
2,838.7 x 365 days = 1,036,000 ounces per year
1,036,000 ounces of silver x $20 per ounce = $20,720,000
Hope this helps all of you. If I messed up somewhere please point it out.