someone explain to me what i am missing.
per MRE announcement, max values of Rhodium 333ppb.
so 333 parts per billion is 0.333 grams per tonne
17500 USD per ounce = 17500 / 28.35 = 617 USD per gram
total resource at gonneville = 330MT
so max values were 333 ppb of Rhodium, let's say conservatively average values were 100ppb, which is 0.1 grams per tonne.
330mt x 0.01 grams per tonne rhodium = 33m grams of rhodium.
33m x spot price 617 USD = 20b USD value of rhodium in the ground?
what am i missing here please? perhaps the average values were only like 0.01 grams per tonne? still would be 2b USD of value not bad?
someone explain to me what i am missing.per MRE announcement,...
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