Digging for gold in Coolgardie, page-9

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Lowkeyinvestor

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10/06/20

18:23

Post #: 45143454
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Originally posted by Burleigh: ↑

This is my Guesstimation Lowkey,

With many assumptions I come up with about 4 weeks.

Reading the announcement, 23/09/2019 Burbanks Gold Project, Positive Scoping Study,

Using their indicated and inferred Mineral Resource of 1.2mt @ 3.7 g/t Au for 145,700 ounces of gold.

So with 31.1 grams per ounce we need approx. 8.4 ton to produce 1 ounce of gold.

Using the current price, Au $2416 and a stab in the dark production cost of Approx. $1416, leaving a Nett profit of $1000 p/oz

At $1000 per ounce nett, we would need to produce 8,000 ounces to have $8,000,000 in the future fund.

To produce 8,000 ounces we have to mine 67,200 tons ( 8.4 x 8000 )

According to FMR investments, Greenfield's mill page, they can churn 1,000,000 tons per annum through their plant,

So by my calculations, that's 19,230 tons per week, 67,200 tons = 3.5 weeks.

Production cost could be more , could be less.

Hope this helps.

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Hi@Burleigh,

Do you have any idea about how the ore gets to Greenfields Mill in your gestimation.

I mean what capacity truck(s) would be used to transport the 19,230t ore per week?

BAR Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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Digging for gold in Coolgardie, page-9

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