RE:Any mathematicians on this BB????
Kewl002 wrote: My question (purely for the fun of it).....
if NFG gained gov't approval for a 10,000 ton bulk sample from a sweet spot of the Keats zone (pick one as there are many) and was able to complete the extaction (open pit?) and have it processed at a local mill (say 95% recovery -- how much gold would be realized from the bulk sample @ $1,800/oz avg?
Would that be sufficient (minus costs of course) to fund 2023 exploration without further share dilution?
Anyone have the skill set to do a back of envelope style calculation?
That would depend on what your average grade is of your bulk sample. Rough calculations can be done in your head with simple multiplication. If you use 1 oz per ton you would get $18 million dollars with 100% recovery. Just multiply by whatever grade you would like and go up from there. If your bulk sample was 10 oz per ton it would be $180 million dollars.
You could multiply those numbers by .95% for 95% recovery minus your costs and give yourself a more precise number but it's just a guessing game because it all depends on the average grade you use. There are sweet spots with 20 oz of gold per ton in the Keats Zone over narrow widths of a couple meters. That is why investors should really like NFG because the grade of gold in the rock is phenomenal. You get a whole lot of gold from a small volume of rock similar to Fosterville. That is why Mr. Eric Sprott likes it so much. The market should like it equally as much but unfortunately the market is not as smart as Eric Sprott.