RE:RE:10M + GEO's It was from the old Corporate Presentations (see below )
This was how I came to question the GEO's and work the numbers backwards to understand the Equivilent Ounce.
2.5 g/t at 50 million mineral bearing tonnes did not equal 9 M ounces, But when you work out the value of all of the parts
(in 2011 approx numbers US$)
2.5 g/t Gold $1400 or & $49.40/g = $123.45 /t
0.5% Copper currently at $9000 /t = $45.00 /t
3% Zinc $2300 /t = 69.00 /t
30 g/t Silver $28.00 /oz or $0.987/g = 29.63 /t
Total $267.08 / tonne in value per tonne $267.08 / 1400 = 0.19 oz which equal 5.38 g/t. Depending commodity price on the day they worked it out gave them the $252.47 pricing but the 9M+ GEO still works out
So, no that does not work out to 37-45 / share unless you're converting the Koolaid $30US to Canadian. It just explains how they came to 10M GEO's. I then used the info to point out the even the host rock between the high value veins still has enough zinc, copper, silver and gold to be Pay Ore at 1.8 g/t when most mines have a cutoff number of 0.5 g/t.
We still base the BO number on the $300 ish US per GEO. Question is when we consider they said 10M in a 1 x 3 km target and now it has been expanded and expanded to 2.5 x 6 km target,
BY HOW MANY GEO's DO WE MULTIPLY BY $300US?? When the area is 5 times larger.
if 10M @ $300 US it's about $11.30 US or $15 Cdn Now dream bigger and I can run numbers to justify the Koolaid drinkers figures
Happy Golden Egg hunting
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