black reef profit

ORS havent given any forecast of the profit from this project. I think they could make a huge profit from it, they probably think so to.

They intend to mine 25,000 tonnes of ore from a 200,000 tonne parcel, so the strip ratio is around 8 which is the low end for this type of reef. All up costs include milling and mining will be less than $3million.

Grade is between 5gpt and 8gpt, the only recorded production in the 1870's was 750 ounces from 690 tonnes. Given there is a 5m @34gpt intercept then 8gpt is a realistic top end grade

the revenue range based on 1400 gold and 5 to 8gpt is between $5.5million and $9million, profit between $2.5million and $6million