Digging for gold in Coolgardie, page-7

First 7 Last

Share
Profile

Follow
Lowkeyinvestor

4,800 Posts.

1817

07/06/20

19:44

Post #: 45088389
Share

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.

Expand

@Burliegh,

Bloody good effort their boy.

Much appreciate your contribution.

I hope we (Barra) go in for more than 20% even if a CR is needed. I would like to see 50%.

BAR Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

BDM

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

PSC

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

SYR

Syrah jumps +19% as graphite tariff threat spurs optimism down under

SER

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

AII

A new NASDAQ listing for a key player in the global critical minerals space

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

STN

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

DRO

History repeats for DroneShield investors but carnage so far subdued

HotCopper Highlights: Trigg; Droneshield; Lumos & more

First 7 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

Digging for gold in Coolgardie, page-7

Top Stories

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

A new NASDAQ listing for a key player in the global critical minerals space

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

History repeats for DroneShield investors but carnage so far subdued

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Featured News