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Gold/Mining/Energy : Precious and Base Metal Investing
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To: Elizabeth Andrews who wrote (3011)4/10/2002 8:40:55 PM
From: tyc:>  Read Replies (1) of 39344
 
Perhaps a new way of looking at things; (What sounds too good to be true probably is.. so caveat emptor)

I asked you to please assume that my figures were correct, just for sake of argument. They are based on figures given in the PDAC brochure; which says further that with copper at .70c per lb, cash costs will be $175 per ounce.

So let's "fix" the base price of copper at .70c per lb. Any .01 change in that price will have the same effect on the spread as a $2.85 change in the price of an ounce of gold. At 72.25 cents per lb, Copper is today 2.25 cents higher, equivalent to a $6.41 per ounce increase in the price of gold.

With a cash cost of $175, at todays prices it is as if the price of gold were $302 + 6.41 = $308.41 per ounce.
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