What do you make of this release? Is it an announcement for the sake of making an announcement? The findings are not apparent or clearly spelled out.
On doing some armchair calculations: the block tested representing only 8% of the property contains 8,640,000 tonnes (~715,000 Au & ~23,000,000 lbs of Copper.) by inference and again confirmed by calculation the PROJECTION/??GUESTIMATE is for the property is for a total of 117,000,000 tonnes (9,700,000 ozs Au, and 314,000,000 lbs of Cu) By any term of reference and shallow open pit (Canuc suggests a low stripping ratio), with low production cost even if it is $US220 oz the "proven" gold alone is worth $80,000,000 to the company and if Cu sells for $US1.00 the 23mm pounds could kick out a significant cash flow. Again this is only my estimate. The rest of you MUST ask your own questions to Canuc and/or do your calculations.
Cheers Winzer |
