RE: Tailing Math Gives Possible Trailing EarningsI have always thought about gold in the tailings, but I didn't have any tonnes to work with.
Does anyone know where this 30 million tonnes of tailings comes from as well as the 1.8 grams that could come from it?
Lets just say for argument sake, there was 20 million tonnes since some was used for another purpose already.
Doing the math, 1.8 grams of gold x 20 million tonnes of tailings = 3.6 million grams (31.1 grams per troy ounce) then gives us a possible 1.16 million ounces of gold.
But lets just say that there is only 1 gram of gold at 20 million tonnes of tailings, gives us 644,000 ounces of gold.
Years ago, there were a small number of companies that specialized in extracting gold from tailings and they brought in their own equipment to do it, and they would hope to cut a deal with the owner of the tailings. It was also considered a green industry, because they were cleaning the toxins up as they went along.
This could be considered a possible income stream.
My take is the older the tailings facility, the more chances of finding a greater number of grams per tonne, because of the old technology that the previous mining companies were working with at the time.
Perhaps is a legitimate 1.8 grams per tonne of tailings. Now thats a gold mine!!
Good catch guys.
Please feel free to review the numbers that I was using. This definitely could be a potential revenue stream.
Stephen has said that he's not in the business of building gold mines, but he is in the business of increasing the wealth for the shareholders, well it could be possible for a third party to extract the gold for us and just cut ORX a check, using their own equipment, and they would be cleaning up the environment at the same time.
Just putting it out there.
This is just yet another possible dimension that ORX might have in it's bag for increasing shareholders wealth.