Long time reader and holder, not much of a poster though. I was...

Long time reader and holder, not much of a poster though. I was wondering if you guys can confirm some back of the envelope calculations I have done. I am trying to work out the actual value of whats in the ground and the rough cost of getting it out.

Firstly in the ground, latest resource report has total 1,722,000ton's at 7.18% Cu (123,600 tons) and 201g/t Ag (347ton's).

So for Cu: 123,600 x $2400 ton = $300 Million USD
For Ag: 347,000 kg x 2.2 (covert to Lb's)
=765,000Lbs x 16 (Lbs to Oz's)
=12,240,000 x $6.2 (price approx per oz)
= 76 Million USD

Total = 376Mill USD

Now getting it out is about 50c Lb including Ag credits which means production is about 45% of the money they receive when they sell it (50c/109c/lb) which means it will cost about 45% of 376Mill to get it out which is 135Mill USD.

Am I on the right track - I am sure others must have done this calculation?
Charlie