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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Claude Cormier who wrote (13388)6/24/1997 8:37:00 PM
From: Zeev Hed   of 35569
 
Claude, I went through the numbers and the release in details. The release must be poorly worded, since it definitely implies the gold is in the concentrates :"... recovered the following amonuts of precious metals from the concentrates... (and then the explanation on dimensions and back calculation to head ore concentrations, implying that gold (one of the following precious) is in the concentrates.

I calculated back the grams/ton (PPM) values from the grams value given (multiplying each figure by 2200 and dividing by the appropriate weights (900, 452 and 400 respectively) and then translated the oz/ton to gram/ton by multiplying by 31.3 and there is a standard deviation of between 7% to 13% between these values (the figures quoted in grams yielding consistently higher concentrations). Any reason for that? Am I using the wrong conversion factors?

The nice thing is that on 1752 lbs, one gets an average of .3 oz/ton for Au, .285 for Pt and .205 for Pd.

Of course, I realize that you will calim lack of chain of custody between the the concentration and final precious metals determination, but I think that if at all such errors would lead to loss of material "in transit" rather than additions, so these figures must be considered quite serious with all the small discrepencies.

Zeev
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