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Gold/Mining/Energy : Global Platinum & Gold (GPGI)

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To: go4it who wrote (5497)	3/31/1998 11:16:00 AM
From: Gary S	Read Replies (1) of 14226

To All, I did some calculations for myself to see what this latest news means. Using today's current prices for the precious metals and assuming that the entire pile of ore would give the same results (on average), here's what we could hope to recover using "standard methods": grams/ton troy oz/ton price/troy oz. Total ------------------------------------------------- Gold 1.82 0.0585 $301.60 $17.64 Silver 11.01 0.3540 6.36 2.25 Platinum 5.69 0.1829 406.70 74.39 Palladium 2.40 0.0772 265.50 20.50 Rhodium 3.22 0.1035 575.00 59.51 ------------------------------------------------- Total value of 1 ton of ore $174.29 Now, assuming we still have somewhere close to 500,000 tons of ore, the total value of the pile is approximately $87 million. I won't attempt to figure out the cost of production. Clearly, the "mining" cost is negligible. Just how much DOES it cost to scoop sand and gravel from a pile and move it a hundred yards or so? :) If I've made some sort of a mistake with my calculations, please correct me.

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