Daniel, If I read correctly their annual report, the 50,000,000 tons is over the whole six square km. By the way, if you look at the map, not all the property wen to 100 feet. But take the volume yourself, assume 100' equal about 30 meters, you get an area of 6,000,000, oops, I was wrong, just a zero off an then some, you are right, the total area has six time as much ores or 300,000,000 tons which come up to 27,000,000 onces of platinum, you realize that this is close to three times the total world yearly demand for all the PMG in the world and then some. Now, if they find a good way to extract it profitably, this bet might not be too bad. (By the way, I could make the same point about the Weaver Creek property of GPGI, it has a reserve of 100,000,000 tons of ores at only 10' depth, while the depth of the deposits at some places is up to 500 feet and it appears to contain more than .1 opt of platinum). Since their Hassaympa process extrat the PT from this ore, they are closer to extraction than IPMCF).
If these guys succeed, our next worry will be glut of the PMG on the market!
Zeev |
