RE: What was the answer...........OK for what its worth...
I belive that 1 Troy oz. = 31 grams
with $570 gold (near enough I hope?) this translates to about $580 per ton worth of gold. 95% recovery (I think this is optimistic) would = $551 per oz less $120 = $431 per oz profit based on todays release. If I recall the average of the last few releases had a cost of $250 per oz. This would mean we are averaging down on cost per oz.
FWIW I did talk to PAT IR a while back and as far as the mill goes I was told it wasn't even broke in (less than a day of full steam production) and put away properly. Basically it is a "new" 20 year old mill. Mill science does not = rocket science, so parts are still on the shelf if needed.
If anyone can correct me on the cost estimate please do!
Regards,
Wolffy