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08/12/16
10:17
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Originally posted by The Mole
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Thanks JDR5,
I was commenting only on the Enterprise vein which appears to have in the order of 33,600 ozs of gold + Ag. This only small part of Eddie Creek potential gold.
If NIU does 200 oz per month and 83 ozs (at $1600) is breakeven then cost per oz is only $664 per ounce - this gives $936 margin per oz.
Base on 40tpd working 300 days per annum.
Or 12,000 m3 pa.
Or 48,000 tonnes pa
At 9gm/t
Equals 432,000gms
Equals 13,400 oz pa
With margin $936 per tonne
Equals $12.557m margin
Or .076 per share pa.
8 times earning
Share price 6c.
If reduce gold grade to 4gm/t
Then share price 2.7c.
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The margin is key Ive been told a number of times by miners that above $800 oz is good money, plus more upside once gold does its thing with this mine.