OTCPK:FRSAF - Post by User
Comment by
JohnEStromJron Nov 18, 2011 2:45pm
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Post# 19249500
Fire River Gold Corp. Announces Additional Re
Fire River Gold Corp. Announces Additional Re"Revenue from doré has also commenced with the sale of 400 ounces of gold to Johnson Matthey of Salt Lake City for a return of $ 710,000. Approximately 30.9 kg of dore containing 23.5 kg (766 ounces)of gold...." The NR is very confusing 766 troy ounces = 29 kilo not the 23.5 Kilo indicated.[766 / 12 / 2.2 = 29.015 kilo] 23.5 Kilo of gold = 620.40 troy ounces not 766 troy ounces [23.5 x 2.2 x 12] The 30.9 Kilo dore bar would weigh 815.76 troy ounce and contain 76% gold. [30.9 x 2.2 x 12 = 815.76] I was told that we shipped TWO dore bars of 30 Kilos each to Johnson Matthey. Each bar weights about 66 lbs troy or 792 troy ounces. [30 x 2.2 x 12 = 792 troy ounces] Did we ship one dore bar or two? Shipping a single bar with 76% gold seems odd - no mention of silver. The ratio I was given when the bugs are worked out should be about 60% gold, 30% silver and 10% impurities. I think management needs to give us a clearer NR on what was shipped to Johnson Matthey as this NR seems to conflict with itself. Maybe they need to hire me to do their math? ;)