RE: Terry Eseman - mining guy?.."according to elko newspaper site, a guy named Terry Esenman said they milled 4000 tons to get 264 ozs poured....this is a grade of around .06 ounces per ton. This sucks, I am selling tomorrow before the grade gets worse.....this is a massive promotional crock. "
Your calculation is correct, but it is not the whole story. If you continue down the article you will note two additional facts:
1. They will be milling their own ore first and then the Newmont ore. We have always known that their own ore is the lower grade component of the total stockpile. In addition, recoveries on start up is likely to be less than when the mill is running normally.
2. Dickson has now stated they will be producing 2,000 oz per week and a total of 90,000 (up from the previous estimate of 80,000).
So I would not read too much into the quoted figure for the first pour.