Value of $650 per tonne ! ?These results maybe too good to be true. 21,182 grams from 582 tonnes yields 36.4 gm/tonne. Assuming $200/gram for rough gem, $20 near gem and $5 non gem the value / tonne is approximately $650 US. Great results for an open pit mine.
Results in 2003 was probably high graded which is likely the same this year. Only 36% of the material was processed. Clearly you would process the best material first. 465 tonnes processed in 2003 yielded 5801 grams (12.5 gm/tonne) and 404 tonnes of 2003 material processed in 2004 yielded only 1781 grams(4.3 grams/tonne)!
This year seems too good to be true, although they would have mined the best zones were visable gems could be seen.
We still don't have the sales price of cut stones to put a real value on the grade or value per ton. Bernie ruined much of the material he tried to cut and had a very poor yield from the stones which were cut. I have also heard that the quality of cut was very poor as well. I'm sure William Rohtert wants to finish cutting the 2004 material which he was responsible for handling and getting cut.
In talking to Bill in Toronto a couple of weeks ago he is very excited about the rubies and believe they will be even more valuable to TGX then Regal Ridge. Regal Ridge has been extended at depth and the Howdy Ridge could be better than Regal Ridge.
Seeing the cut fancy sapphires on the web the rubies must be spectacular for William to feel this could be the best of their properties.
All indications are looking very good for an economic mine in the Yukon. It is very early in the process to evaluate the rubies in Greenland. Results of the mini sample in Greenland will be very interesting. The samples must be processed to separate the gems from the rock and then cut. The sapphires look great but are there enough to justify a mine on Baffin Island?
This has been a long waiting game but it also took years to establish diamonds in Canada.