RE: RE: RE: RE: A Great Turnaround Story Just trying to understand rock's numbers on mining cost reduction due to lower strip ratio and I think I have it firgured out.
Waste mining cost $2.20 per ton in the first quarter, and there was 3.6 million tons of waste for a total cost of about $7.90 million. There was 1.3 million tons of economic ore.
If the strip ratio was 1 to 1 in the first quarter, only 1.3 million tons would have been waste, so the cost would have been reduced to $2.9 million, for a savings of $5 million.
Thats close to rock's numbers.
That would have reduced first quarters costs from $17 million to $12 million which is a huge savings.
Add the other factors and it is easy to see how total mining costs could be substantially lower for 2013.