Newlox Gold Ventures Corp C.LUX

Newlox Gold Announces First Mineralized Material Processed

[Betteryear2]

Vancouver, BC – TheNewswire - 17 April 2024 – Newlox Gold Ventures Corp. (“Newlox” or the “Company”) (CSE:LUX) | (Frankfurt/Stuttgart:NGO) | (OTC:NWLXF), a trailblazer in environmentally conscious mining practices, is pleased to provide an update on commissioning at Project 2; the Boston Clean Gold Project.

 
Newlox Gold Announces First Mineralized Material Processed at Plant 2, "the Boston Clean Gold Project" (thenewswire.com)

[brewster123]

Some quick math based on their NR: 150 tonnes per day of material grading +/- 15 grams per tonne of gold, with an expected gold recovery rate of at least 90%. All feedstock will be supplied by the Company’s local mining partners, with profits to be shared equally between the parties after expenses. (150 t x 15g/t  x 0.9)/2 = 1000 g/day attributable to Newlox 1 gram = $100CAD = $100,000CAD

[lscfa]

Slide deck says 150 TPD = 20,000 ozs/yr.

[brewster123]

150tpd x 15grams/t x 90% recovery= 2025 grams per day 1 troy ounce = 31.1 grams 2025/31.1 = 65 ounces per day 50% to the artisans and 50% to Newlox so Newlox gets to keep 32.5 ounces per day. Even if they run the plan 365 days a year, I only get around 11,800 ounces for Newlox. Perhaps the 20,000 ozs/yr figure is total ounces produced before they give 50% to the artisanal miners.

[Kpitreal]

11,000 oz x $2300 oz = $25m for Newlox. Seems like a good number. 

[brewster123]

Assuming $2300/oz is the spot price, not sure what Newlox would get when they sell their gold.  Less than $2000/ounce?

[lscfa]

Plant 2 produces 20,000 ozs per year. The 50/50 sharing agreement is based on profits. So the real question is how much are expenses to produce 20,000 oz/yr? Dynacor's fins show this breakdown...     Dynacor Dynacor Dynacor   Qtr ending Se/23

[lscfa]

Some more Dynacor stats...     Dynacor Dynacor Dynacor   Qtr ending Se/23 Qtr ending se/22 2015 12 mo Other cost of rev $5,865,010 $5,718,880 $13,466