ECUADOR GOLD AND COPPER CORP V.EGX

EGX Global view of ressources

[ThunderStock]

Hi all EGXers

I made some calculation concerning EGX to have a global view of their resources.
This is approximatively my result. And, to have an idea of those resources, I made a comparaison with Essakane (Iamglod) in Burkina Faso, where I worked there during the construction and the startup in 2010-2011. I choose this mine because I know the production level, the price of the mill and his quantity of mineral processing per year. And with the process, this will give me the longevity of the EGX future mine and the share price comparing to the same mine actually. The share price would be today, if EGX producing in this year, at $1.50 to $1.80. This result is from my calculation and all the information are from the EGX reports. If you have any comments, feel free to do so.
Enjoy!
 

Santa Barbara South Zone : 
236,100,000 t of minerals @ 0,57g/t = 4,330,000 millions of oz (Au); $ 5,629,000,000 @ $1300/oz

236,100,000 de tonnes de minerais t of minerals (Ag) @ 2,43g/t = 18,474,000 millions of oz (Au)= $ 369,480,000 millions @ $20/oz

236,100,000 t of minerals of copper @ 0,10% : 520 millions lbs of copper = $1,430 billions at $2.75/lbs



Condor : 
318.900,000 t of minerals @ 0,62g/t = 6,365,000 millions of oz of gold = $8.274 billions @ $1300/oz

El Hito : 161,000,000 t of minerals of copper @ 0,31% Cu = 1.1 billions lbs of copper : $3,025 billions @ $2.75/lbs


Recapitulation of $ per kind of metal :

GOLD :
Santa Barbara : $ 5.629 billions (4.33 millions of oz)
Condor : $ 8.274 billions ( 6.365 millions of oz)
Total $ 13.903 billions ( 10.695 millions of oz)

SILVER :
Santa Barbara : $ 369.480 millions

COPPER:
Santa Barbara : $ 1.430 billions
Condor : $ 3.025 billions
Total $ 4.455 billions

Grand Total $ 18.727 billions in resources



Total of minerals: 555 millions t to process.
With a mill cost of $850 millions (Gold only), we process 7.5 millions de ton of minerals per year. 
Mine lifetime of EGX : 74 years.
$ 253 millions per year.



Essakane : 
Production : 300,000 oz Au/year = $ 390 millions
Ressources : 3,659 millions of oz @ 0.9 g/t = $4,756 billions
139 millions t of mineral at 0,9g/t.
Total cost / oz : $900
Mine lifetime : 10 years.

All the expenses are :
42% Fuel
13% Material et spare parts
10% Transport, Customs, duties
8% Drilling services
6% Others
5% Machinery et location of equipment
4% Explosive stuff and blasting
3% Meals
3% Transport et vehicules renting
3% Insurances

[fleamarket]

finally an material post. Excellent much enjoyed!

[ThunderStock]

I looked Roxgold (ROG) resources which is trading at $ 0.63 = 1 million ounces of gold in Burkina Faso. 1 single project operating with only a little more than one million ounces. And no other project in sight, but 2 other property in Burkina on which they are currently a feasibility study to be released Q2 2014.  Total resources: $ 1.3 billion, and only gold, nothing else. Source: 

[testfreak]

very nice post thunder! watch for a massive EGXplosion in feb

[ThunderStock]

I love blasting. In feb!

[nassau1]

lets go here,way undervalued,major correction to the upside coming soon

[nassau1]

markets looking like the great rotation from equities into precious metals should be just around the corner,should have lots of updates in the coming weeks,cant wait to see that pea,fire this thing up

[ThunderStock]

Mid feb is coming and the shares will rise before the news. All the people knows that EGX shares are undervalued and they will want some before the news. Level 2 have changed to bullish now.

[TheMerlion]

Oh no please stop Thunderstock, my sides are really hurting with the laughing. You worked on this project....really. No wonder you no longer work there because the local infants could do a better job.