I work out the numbers have a look.
mineral Measured Indicated Inferred
Ilmenite (titanium) 184,884 - 204,603 361,816 - 400,582 126,420 - 139,965
Garnet 231,105 - 244,311 452,270 - 478,114 158,025 - 167,055
Zircon 39,618 - 46,221 77,532 - 90,454 27,090 - 31,605
The latest mineral commodity prices available from the September 1999 issue of the industry magazine "Industrial Minerals" are as follows:
Garnet: US $180 - 240.00
Ilmenite: US $ 84 - 94.00
Zircon: US $ 320 - 360.00
Mineral Measured Indicated Inferred
Ilmenite (titanium) 15,530,256 -17,186,652 30,392,544- 33,648,888 10,619,280- 11,757,060
Garnet 41,598,900-43,975,980 81,408,600- 86,060,520 28,444,500- 30,069,900
Zircon 12,677,760-14,790,720 24,810,240- 28,945,280 8,668,800- 10,113,600
Total Value 69,806,916- 75,953,352 136,611,384- 148,654,688 47,732,580- 51,940,560
*These numbers were calculated using the lesser amounts of the current prices.
*All amounts in US dollars
Given the measured, indicated and inferred we have an in ground value on just the 3.6 sq. miles of $254,150,880 to $276,548,600. |
