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Neil,Gold is in troy ounces, 31.1035g/oz. It's actually...

  1. juk
    4,064 Posts.
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    15/12/09
    09:13
    Post #: 6043979
    Neil,

    Gold is in troy ounces, 31.1035g/oz. It's actually 31.10348something, but 31.1035 is the figure that is used when the mines get paid, so it's what everyone uses.

    so for 300,000t:

    300,000 *4.2*0.95/31.1035 = 38484.
    AAM Price at posting: 35.0¢ Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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