the big bucket such a quiet day.. lets check that big bucket again.. but today we will fill it with ore from cxo.. i do not hold any shares but i see it being mentioned a bit and it is up nicely today.
so the big 50 cubic yard bucket holds 1350 cubic feet.
cxo drill result which has somehow generated a lot of action is .06% copper
so inside the big bucket of cxo rock is 1350 x .0006= .81 cubic feet of copper (more or less)
specific gravity of copper is 8
1 cubic foot of copper weighs 62.4 x 8= 499.2 lbs
in the big bucket then is 499.2 lbs x .81 = 404 lbs of copper .
i think copper is about 3.00 per lb maybe 5
so 404 lbs x 5 .00- = $2020.00
a far cry from the bucket of graphite ore that i valued at 58,000.00 (the chief say 90,000.00 )
if the market is right about cxo then zen should be priced at 58000/2020 x 1.02=$29.28 (i am assuming the same number of shares outstanding) and cxo is presently at 1.02.
i for one cannot see this lasting for much longer..
either cxo will crash or zen will fly.
have a good weekend.