RE:RE:RE:RE:Napkin Maths and Regulators, Shareholders RequirementsDr.Goldstein,
Thanks for posting Mikey's post on ceo.ca. This was back in 24 August 2018 following the discovery of FDV. Link to orignal post (copitable for pasting) below
https://ceo.ca/rnx?156145b5a239
I had some napkin math for a much smaller area, assuning a stope from Level 16 to FDV including hole AZ15-013, and you can verify the math yourselves:
- One 5m x 5m stope for 25m: 5 m x 5mx 25m x 2.8 = 1750 tonnes ore x 1000 gpt/31 = 56,450 ozAu (= US $28M profit)
- 1000 gpt was chosen as an example since this is lower than the known values at 3 locations (1406gpt for hole AZ15-13, 5000gpt for FDV, and 120,000gpt for GTV).
RNX is evaluation how to extract the ore in this area (see the latest video in which MikeyMike interviewing Sloan in Toronto) so that this extraction would be consistent with their mine plan which will be available within a couple of weeks.
- If you want to be conservative, use 500 gpt (for 28225 oz Au = US $14.1M profit) . If there is more to extract then up the estimate by an appropriate factor.
At any rate, the potential of this area to produce a sizable amount of Au ounces is significant, from one stope. Note that Mikey discussed the length along the strike for more than one zone, and they run for a total of ~4km.
GH11
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DrGoldstein wrote: goldhunter11 wrote: Buko,
You are certainly not one that called management incompetent. I simply continued with your comments using the same topic. But there are others who have been critical about management handling the company business, i.e choosing Au over Ni. Just a general warning that one has to check out those napkin maths to make sure that they are fairy presented. Everyone is entitled to his/her opinion, as long as the opinion is based on facts.
No, my general remarks were not aiming at you.
Have agood week-end, at least the last of it.
GH11
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bukobucks wrote: I don’t see where anyone called management incompetent as you’ve suggested....just some commenting on a very simple comparison (hence Napkin Math is in the title). We both know there’s a lot more to it than that. More concerning to me is the value for the dilution, hopefully it pays off. I’m patient and don’t have the farm invested in this, so I will wait and see.
Buko