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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 martindaleon Dec 17, 2021 3:05pm
128 Views
Post# 34241773

Near as I can find

Near as I can findThe weight of that 1 stockpile, which is 25,000 cubic meters is just over a ton a cubic meter. 27,000 tons. Look it up yourself, we have 6 such known piles.. total weight I cant say but, CEO estimates 200,000 tons of stuff.prove him wrong...at 3.5 grams of gold I’m using $1700 per oz.  (being conservative) per ton ( would be $38 million or 22,500 ish oz) and again just to be conservative we will use a tonage of 140,000 we arrive at about 16,000 oz of gold worth about $28 million.the one stock pile alone at 25,000 cubic meters with 3.5 grams per ton is in the range of $5.2 million, that’s not to say overall grades could be higher or lower, we have a recovery of 61%-70ish %, and that’s without using any chemicals for gold recovery.. so take that Into account as well, I’m not doing all the math for you..  GLTA Invested! Again I am only estimating based on what I can glean from company documents and is lower that I thought I had seen in the presentation, all the same it is still a healthy chunk of cash that only needs to be scooped up...Drilling to follow and more gold to be found.. 
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