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Gold/Mining/Energy : Naxos Resources (NAXOF)
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To: Jerry in Omaha who wrote (12016)4/19/1998 7:03:00 PM
From: Kim W. Brasington  Read Replies (1) of 20681
 
Jerard:

OFF THE SUBJECT

I track some of the majors, and it is interesting to me to see some of the data that they have in their public information. Barrick for example has 50.318 ozs. Au in the proven and probable reserve category. Their proven and probable reserve ore tonnage is close to 500 million tons.

Homestake has 17 million ounces Au within the proven and probable reserve category with another 4 million (gold equivalent) ounces of silver which would give them 21 million ounces of gold and gold equivalent.

Newmont has almost 53 million ounces Au - proven and probable, with over 2.2 billion tons of ore that are proven and probable.

Placer Dome has 31 million ounces of gold that are proven and probable coming from over 500 million tons of proven and probable ore.

Among these four companies, the grade of gold can be as low as Newmont's Batu Hijau mine in Indonesia which is .012 ounces/Au per ton to as high as Homestake's gold content at Eskay Creek which is 1.693 ounces/Au per ton. As a normal rule of thumb, the higher the gold content, the smaller the deposit. If you toss out the few deposits that are over .5 ounces/Au per ton (5 out of 47 that I looked at), then the grade is lower than .2 ozs./Au per ton.

Regards,

Kim W.
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