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Gold/Mining/Energy : Global Platinum & Gold (GPGI) -- Ignore unavailable to you. Want to Upgrade?

To: go4it who wrote (5497)	3/31/1998 11:16:00 AM
From: Gary S	Read Replies (1) \| Respond to 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.

To: go4it who wrote (5497)	3/31/1998 9:48:00 PM
From: U.B. Green	Read Replies (2) \| Respond to of 14226

Based on your logic, gpgi could never do a coc on their 500,000 ton pile . That makes Zero sense. U. B. Green

To: go4it who wrote (5497)	4/1/1998 12:30:00 AM
From: Eric Tai	Read Replies (1) \| Respond to of 14226

Charles, An interesting question. However, I think that the COC sample only means that a random sample is taken from the pile and sent to the lab for testing under COC. It did not guarantee that the sample is a fair representation of the whole pile, it did not guarantee that the pile is not tampered with, it did not guarantee that the head ore will have similar grade as the pile etc. The same type of sampling, COC, lab testing or even feasibility study is happening for many similar types of "disturbed" material such as waste (but still precious) rock from earlier mines, slags from earlier mines etc. The reason is that a lot of old waste rock, slag from old mines still contain a lot of valuable base metals or precious metals that can be extracted by today's technology. Some mining companies are going thru those waste to extract the valuable metals. Some examples are: the waste rock dumps in Armada Gold's Erdenet Mine; the Nkana Slag Dump of Colossal Resources etc.