Crunching the Numbers...The estimate I have is that a total of 30,000 tons of ore have been crushed by a hired contractor to about 4 inches. Again to date most of it is still on site at Island Gold. The estimate I have for grade is 4 grams per ton.
30,000 tons X 4 g/t equals 120,000 total grams.
1 troy ounce is equal to 31.1035 grams.
120,000 divided by 31.1035 equals....3858 total ounces
The gold recovery rate at the Young-Davidson Mill is 90%.
3858 X .90 equals 3472 recoverable ounces.
The gold recovery rate at the Island Gold Mill is 96%.
3858 X .96 equals 3703 recoverable ounces.
The difference is 3703 -3472 equals 231 ounces. This is significant namely using todays spot gold price of $1840.00 US X exchange rate of 1.30 equals $2392.00 canadian per ounce...231 X $2392 equals $552,552.00.
Factoring in the contractor crushing costs and the hauling cost plus the loss of using the Young-Davidson Mill...the total costs are significant. Head scratcher to be sure.
Let us see what the numbers look like in the second quarter.
All the Best!
Digger0144