Also went through the back of envelope exercise to convince myself of the numbers involved
2 million tonne at 20 g/t = 40 million grams of gold
3 million tonne at 30 g/t = 90 million grams of gold
So potential range of 40 - 90 million grams of gold
Using 30g of gold per ounce:
Potential range of 1.3 - 3.0 million ounces
Current gold price (AUD) - approx. $4600
Profit per ounce (assuming costs of say $600 AUD per ounce for simplicity) - approx. $4000 AUD
Profit range then = $5 billion - $12 billion AUD
Similar to those of Muzzab overall
An exploration target and conceptual so time will tell how realistic it is.
However interesting that that the lower profit figure ($5 billion) is approx. 100X our current market cap ...
