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Providence Gold Mines Inc V.PHD

Alternate Symbol(s):  PRRVF

Providence Gold Mines Inc. is a Canada-based mineral exploration company. The Company is engaged in the process of exploring and evaluating its mineral property located in California, United States. It owns 100% interest in Tuolumne Property. The Company’s gold mines consist of seven patented stake mineral claims and 22 located claims, encompassing an area of approximately 324 acres, which includes Bonita, Consuelo, FairPlay, Good Enough, McCarthy, Mexican, and Providence. The Providence Group of Mines is located in the Summerville Mining District, Tuolumne County, California, upon the eastern belt of the Mother Lode District. Its subsidiary is Providence Gold Mines (US) Inc.


TSXV:PHD - Post by User

Post by Linemineron Dec 01, 2020 4:08pm
428 Views
Post# 32011795

Guesstimate only - stockpile

Guesstimate only - stockpileBack on Nov 21 - Pregosam included a Bob Moriarty stockpile estimate and Twigler12 also had an estimate! Now I'm thinking Bob's cubic meters were a little high - tons/ cubic meter a little high and recovery @ 3g/ton - high again. Twigler12 on the other hand was conservative in his figures of tons/cubic meter, gold recovery of only 1 g/ton - as for cubic metres - he figured on a v shaped gulley and I think he's on the mark ! Just as I say a guesstimate - in some ways a middle ground of 1.5 g/ton, tonnage someplace near 180,000 tons - about 270,000 grams @ $ 45 / gram after milling costs are subtracted! Still in the $10 / 13 million dollar range! I'm probably high when I've considered that equipment, costs including trucks, mill and excavator rentals would be a $3 million dollar expense! Still not a bad payday for a company with only a $7 million market cap at present! And this is only one of 6 tailing piles !
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