Sixty North Gold Mining Ltd C.SXTY

Summer Bulk Sample To Produce Revenue of $9 -13.5 Million ?

[blackgold14]

Assuming a gold price of US1,850 per ounce, a US-CAD exchange rate of 1.22, and 4,000 tons grading 1 oz/ton gold, the bulk sample should produce at least CAD$9 million in revenue.

If the bulk sample is 6,000 tons at the same grade, the revenue should be at least CAD$13.5 million.

The profit under either scenario should be massive due to the high grade/low tonnage dynamic (an operating cost of US$450 per ounce has been discussed by management as an estimate of next summer's 100 ton per day operation.

In short, it appears that the profit from the bulk sample this summer should result in the company having a big treasury which will be more than enough to finance the regular mining operation (12 months a year) which will commence next summer.  The profit from the regular mining operation will be massive. 

This is the most undervalued emerging gold producer I've seen in over 40 years.

[givemeabreak1]

Blackg You are dreaming. It took Webb 8 years last time to mine a total of 15000 ounces of gold. The last I checked that is less than 2000 ounces a year. Now suddenly higher gold prices like magic they will be a major gold producer. Remember this is the same guy running the show.

[blackgold14]

I would advise you to read the detailed history of the project - check out SEDAR - you can find it on the listing document.  So you are betting against the contractor extracting a bulk sample of 4,000 - 6,000 tons this summer ? That's fine.  Why are you even on this board if you have no confidence in the hired contractor being able to complete the bulk sample ?  Sounds to me

[givemeabreak1]

Blackgold I suggest you do some reading rather than coming up with all these astranomical figures.  Will it be mined profitably quite possibe but your buld sample estimation is nonsense.  Webb has had this property for many many years.   So let us go back in history!  They did a bulk sample back in 1990!  They extracted 4450 tons of which they sent 2206 tons out to

[blackgold14]

You obviously can't do basic math.  4,000 - 6,000 ounces recovered at $1850 gold and the current exchange rate is $9-$13.5 million in revenue, not profit.  Do you actually know the difference between revenue and profit ?   We don't care if you don't believe they can recover gold from the bulk sample at an average of 1 ounce per ton.  

[givemeabreak1]

Black Gold I am good at math you need to learn to read.  The bulk sample back then recovered just 268 ounces.  So multiply that by the current price!

[Coinfan]

they start production next year. I dont expect revenues this year.

[blackgold14]

You are correct that they will be starting regular operating production next June. So for accounting purposes, the company cannot recognize the sale of ounces recovered from the bulk sample this summer as revenue on the books.  However, we all know the BS that regulators set so that a company cannot record the sale of ounces as revenue for accounting purpose even though for all practical

[givemeabreak1]

Coinfan are you saying that his 9-13.5 million from a bulk sample is unlikely or just ridiculous lol.  Where do these guys come from?

[Coinfan]

I understand that they can start transport the gold once they have a winter road again. Anyway lets see what the results are. Important is to get the same grades below the last production area. Then we might get a 1 mio ounce deposit and 100 tpd mill can upgraded. Interesting is that the most part of the gold could be separated by gravitation circuit. So it should be possible to see significant

[adroitness]

Would be nice to see the financing close.

[GenHandgrenade]

Over 5 million shares sold today who the Hell is selling now and why??

[2021Gamble]

assuming that wasn't meant to be rhetorical.. anon velocity canaccord Recent Trades - Last 10 of 74 Time ET Ex Price Change Volume Buyer Seller Markers 15:12:59 U 0.065   18,000 88 Credential 1 Anonymous K 14:57:27 C

[adroitness]

Was a cross to close a financing expect bid 8.

[Coinfan]

might go over 10 cents if financing could be closed fast. How much they want to raise this round does anybody know ?

[blackgold14]

Why are you even posting on this board when you have nothing constructive to say ?  Let me guess, you are the #1 short seller.  From June 3 - 20, the short position on this stock changed from 84,000 to 736,000 shares.  Are you trying to make a cent or two posting your nonsense ?  You'll get burnt very badly soon.  

[givemeabreak1]

Black The stuff I said is construction not like the absolute garbage you are posting.  I do not post wild fantasies.  You said I should read about the history of the project.  It seems I know more about the history than you.  Bull boards should be about honest discussion not mindless pumping!  

[2021Gamble]

I would suggest your hypothesis is pretty likely....based on his posts on PHD - another stock shorted regularly (naked there)...The posts after every news release and update on PHD, and you can guarantee any positive discussion will be burried to page 2 or 3 in an hour or two at the most.... and his usual line "learn to read"... no-one said he was original...or bright, or brite