I was curious if any one had any input about acceptable resource results in general. Taking into consideration the different mining processes I tend to agree with the following statement.
“Yer what ever? Payable gold can be as little as 0.02%. That's 20grams per tonne. If you had that in a 150 tonne truck that's 3kg of gold, which is close to 106 ounces. That's a lot of money. However, factor in other costs and you might just make a profit. Gold of this low level is usually mined with other minerals which are in much higher concentrations such as in a copper/ gold porphyry deposit. The higher grades of copper will help offset the gold extraction. In other words the gold is the cream on the pie”.
Seeing as this is Geology thread, would love to see any input concerning acceptable results on a vast range of mined resources. Sometimes we see results. But unless a long term follower of a specific stock, perhaps the actual importance of the results alludes us.
For instance (from VRX ann).
Silver assays up to 36 g/t
So if some of the more enlightened posters wouldn’t mind. How about continuing this thread with acceptable results that could be seen as price sensitive. So we can use it as a reference point when results are released.
Gold Mining - Soaring Costs Eating into Profits With new gold deposits proving costly and difficult to locate, gold mining companies are trying to mine more gold from their existing properties. Again, this adds to the growing costs of gold mining, and it also increases risks for gold mining workers. Gold Fields, the world's fourth largest gold mining company, is now starting work on the world's deepest-ever mining projects – more than 4 kilometers below ground. According to Mining Weekly magazine, Gold Fields will spend 4.7 billion Rand (almost $0.7 billion) to deepen both its Kloof and Driefontein mines near Carletonville, South Africa, giving it access to 10.8 million ounces of gold from 2011 onwards. "Mining deeper and deeper does not come cheaply," says Mining Weekly. "At Driefontein, apart from the capital costs to get there, mining at depth will cost ZAR66,000 per kilo ($296 per ounce) over the life of the mine." South Africa already has higher gold-mining costs per ounce than even North America, where Newmont Mining, the second largest gold miner in the world, saw its average gold mining costs rise by two-thirds per ounce between 2002 and 2007. Thanks to soaring costs and shrinking reserves, Prudential Equity forecasts that Newmont's combined output with Barrick Gold, the largest gold mining stock in the world, would be 40 or 50 tonnes less than expected in 2007.
