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Spur Ventures Inc SPVEF

"Atlantic Gold Corp is engaged in the acquisition, exploration, and development of mineral properties. The company explores for gold. It holds interests in the Moose River Consolidated Project comprising the Touquoy and the Beaver Dam gold deposits; the Cochrane Hill gold deposit; and the Fifteen Mile Stream deposit. All the business activity is primarily functioned through the region of Canada."


OTCPK:SPVEF - Post by User

Comment by Akkopower1on Jul 21, 2018 7:01am
139 Views
Post# 28348281

RE:RE:RE:RE:It's just the start

RE:RE:RE:RE:It's just the start

The stockpile value of, $2657733 is on page 5 of the march 31 financials.

The march 31 MDA has other details, specifically

During the three months ended March 31, 2018, a total of 1,094,487 tonnes of ore were mined at a strip ratio of 0.47:1 with a total of 1,608,669 tonnes of material moved. For the month of March, 2018, a total of 367,456 tonnes of ore were mined, and a total of 599,498 tonnes of material moved. Approximately 36% of the ore mined in the quarter was stockpiled as low grade material averaging 0.53 g/t for processing later in the mine life. This material was assumed as waste in the 2015 Feasibility Study. Waste material was used to build the waste dump and ditching.

 

Looks to me like its 36% of the total mined in that quarter, so, 0.36*1094487=394015 tonnes.

So its value is $2657733/394015 tonnes = 6.75$/ton.

They plan on processing it later to get 95% of 0.53g/tonn for 394015ton.

So 0.95*0.53*394015 = 198386g or 198386.5525/31.1 = 6378 ounces

valued at $2657733/6378ounces $416per ounce.

So we have $2657733 of ore that was initially assumed to be waste..... thats 1.3c per share of value


 

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