So, around $2M per week and we are capped @ $73M? LOL

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bevter

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19/02/18

12:27

Post #: 31155682
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Originally posted by hotdog1953 ↑

Whilst I appreciate onspeed's recent assessment of production costs etc. and no disrespect intended,(Refer post 31149229) he has neglected to cover the following :-
These costs relate to underground operations only but are still relevant :-
. 51% explosives consumption reduction
. haulage route reduced from 621 m to 87.5 m
. reduction in fuel costs
. machine wear minimized ( resultant down time reduction)
. ventilation increased ( resultant personnel out put increase - lower air temp/ greater comfort level etc.)
I have revised onspeed's figures based on following calculations.
. Hammermill 3 22.5 tonnes per hour (90% nameplate throughput) x 12 hour shift = 270 tonnes per day.
. Increase to 36 grams per tonne (which is average grade to date)
. Reduction in operating costs to say $700 per ounce
Therefore my calculations are :
22.5 x 12 = 270 tonnes per day
270 x 36g = 9720 grams per day = 303 oz per day
Gold price $1,650 per ounce less costs $700 = $950 x 303 = $287,850 profit per day.
Purely my opinion. it not outside the realms of possibility given that they are now processing ore from underground which could have higher average grades.
On a personal note I bought in at 22 cents in August 2016 and have since averaged down. Based on current price I am almost back to square. I intend to be a long term holder as this company could potentially be a multiple bagger for me in the future.
GLTAH
I

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So, around $2M per week and we are capped @ $73M? LOL

OGX Price at posting: 8.6¢ Sentiment: Hold Disclosure: Held
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So, around $2M per week and we are capped @ $73M? LOL

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