News: Ampella Mining answers some key questions a, page-17

re: News: Ampella Mining answers some key que... seaemay

My calculation is based on the following:

3,000,000 x 2 ÷ 31.1035 x 0.95 = 183,259 ounces

where:

1. annual milling capacity = 3 million tonnes

2. grams per tonne = 2

3. 1 troy ounce = 31.1035 grams

4. gold recovery rate = 95%

Perhaps Kitto is using a standard ounce which has 28.3495 gramms, in which case you end up with more ounces, but is not in accord with what I understand is the way that gold is weighed. The potential production figure then becomes 201,061 standard ounces.

Here is one reference on how many grams there are per ordinary ounce and troy ounce.

http://sellinggoldtips.com/how-many-grams-in-an-ounce-of-gold/

loki