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Gold/Mining/Energy : Royal Oak-RYO
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To: Bill Jackson who wrote (872)3/30/1998 10:33:00 AM
From: mineman  Read Replies (1) of 1706
 
After smelter charges, gross metal value = $7.50/ton (U.S.). At $300 gold/ounce this is the same as a gold porphyry deposit averaging .03 oz/ton obtaining 85% recovery.

If Kemess was a $7.50 gross metal value gold operation in Nevada it could have been heap leached, which would have taken $50 million tops to develop. This would have made it feasible with low capital payback costs.

But Kemess is a $7.50 gross metal value/ton operation with 10's of millions of capital interest and principle payable/year, which appears to make it uneconomic at $300 gold.

Maybe the dept holders should seize the equipment, sell it, and lick their wounds, rather than putting another cent into the Kemess money-losing pit.
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