Napkin maths to guess HM3 profits, page-16

Your effort on calculating profits was commendable but notwithstanding the large amounts of money spent over the last 5 years for no gold production most LT have been working on a figure of $500 to $600 per troy ounce for cost of production .
Nuggety gold cannot be Jorced because of the high cost of drilling and the clumping nature of the gold within the source rock so is a hit or miss affair with the drill bit .Mining is the way to prove up our resource.
This is why the results of Hm3 is important as it is the only indication as to how much production we have at this time and can't accurately project production results into the future but of course can be a guide..