re: golden handshake
Swuzz, some rough calcs for you. BTW I think a decline may cost $5000 per metre but we'll use ploughs $4000. Average decline gradient as I understand it is 1 in 7 so 1km of decline gets you down 140m vertically. 1000m x $4000 = $4mil $ 4 mil divided by 140 vertical metres = $28000 per VM So $28000 per vertical metre divided by say $1600 gold price = 17.5 oz but that doesn't take into account production costs. I hope that maths is correct! On production costs I note that $588,000 was spent on production last 1/4 but there were no receipts from sales. The activities report will be interesting to see if for that expenditure any gold was produced. Back to the decline, you would need some drilling to help you plan the route of the decline. Wouldn't be much good just blindly heading down and hoping you hit some economic ore on the way.
MCO Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
