OTCPK:FRSAF - Post by User
Comment by
JohnEStromJron Dec 22, 2011 6:30pm
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Post# 19347203
RE: NR!! Revenue from Gold!!
RE: NR!! Revenue from Gold!! In the latest Fire River Gold Corps NR some may not have picked up this...
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This is a fairly large screwup. Maybe that is why we have a new CFO and Vice President. Assuming the grades and tonnages are correct that's an error of nearly 25,000 ounces of gold [24,871troy ounces] we no longer have. That's well over $42 million. Kind of a big mistake OR did someone cooked the books? See the NR segment below. I calculated 12690 ounces on the higher grade and 12,184 on the lower grade for a total of 24,876 troy ounces of gold mistake. Now THAT is a mistake. Someone check my calculations, thanks, except for Stoxxman-Wrath or any of his iterations. TIA
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Correction to the 2010 Resource Estimate:
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Through the course of preparing the 2011 re-estimate it was determined that the 3077 zone had been previously extracted. This error inflated the 2010 resource estimate by 9,330 tonnes of indicated resources grading 42.3 g/t and 10,920 tonnes of inferred resources grading 34.7 g/t. The corrected 2010 resource estimation is shown in Table 2.