Looking at Fortitude scoping study. Numbers don't add up.
2.7 million ore tonnes at 12 : 1 strip ratio is 13 x 2,700,000 tonnes moved = 35,100,00 tonnes.
Mining cost = $4.50/t
Total mining costs = 35,100,00 x $4.50 = $158 million
Add in processing costs of $31/t = 2,700,000 x $31 = $84 million.
Total costs are 84 + 158 = $242 million
132,000 oz x 93% recovery x $2,400 = $295 million revenue
$295 million (revenue) - $242 million (costs) = $53 million in cashflow,,,...…..not $98 million
Where have I gone wrong??
You could also add in capex, tax, royalties, corporate costs...…...
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Looking at Fortitude scoping study. Numbers don't add up. 2.7...
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