TSXV:CSG.H - Post by User
Post by
goldpigon Jan 26, 2009 9:00am
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Post# 15728241
Gold Resources adjusted to $900 gold
Gold Resources adjusted to $900 goldrock's numbers contained an error for the measured and indicated, as those were for all deposits.
Here's the correct numbers for all gold mineral resources, as estimated at $625 POG.
2P = 0.8 million oz
M&I = 1.5 million oz
I = 0.5 million.
The total gold resources amounts to 2.8 million oz at $625 gold price. As rock correctly points out and which is confirmed by the table on the web site, the gold resources increases by about 16 % for each $100 increase in the POG.
Gold is currently above $900. Adjusting for the increased economic ore available from $625 to $900 gold would be equivalent to an increase in the total gold resources by about 35 %, which brings CSG's total mineral resouces to about 3.8 million oz. This will easily surpass 4 million oz when the sulphides are included later this quarter.
This is an astounding gold resource for a junior that is producing, and with only a market cap of $38 million.