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Gold/Mining/Energy : Winspear Resources
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To: Rocket Red who wrote (21031)6/19/1999 12:09:00 AM
From: Berry Picker   of 26850
 
That does seem to be the "bulk" of the problem in understanding the grade... Stop me if I'm going wrong here... The general value of the 200 ton sample (minus the 3 biggies ) was 88US/tonne. We've got 5 times as much rock here that proved up at 98US/tonne but no biggies I can hear them screaming Salted SALTED!! already :-}

Let say it was salted for the sake of arguement....

Let's pretend the mine costs us 35mil to build
At 181US or $250 Canadian minus $80 to produce. WE would get $170 profit per tonne

We mine 3000 per day X $170/tonne profit = $500,000/day
At 300 day/year X $500,000 = 150mil profit/year

At 50 million shares outstanding = $3/share profit

How much does Barrick make per year ?? I have heard the mine would cost 35mil to build or less than 1 years profit..

Somebody redo the math... This can't be right because everyone is so depressed about the news here ??? I must be missing some major expense.

PS: THIS IS WITH NO "BIGGIES" AT ALL
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