MCO 0.00% 11.0¢ morning star gold n.l.

maxwells gold potential

  1. 1,860 Posts.
    since the Maxwells reef seems to be the current focus for extraction I have gone back to the JORC to see what Morrie Goodz had to say about it

    27,600 tonnes @ 10 g/t for 8,875 ounces

    the JORC suggests a minimum 250% grade factor leads to 22,200 ounces total for Maxwells

    (check my numbers)

    corrected for the minimum grade factor we get

    27,600 tonnes @ 25 g/t for 22,200 ounces

    gross revenue from Maxwells equals $26 million

    cash costs at $250 per tonne equals $6.9 million

    operational profit equals about $19 million (excludes capex, admin, exploration & depreciation)

    that would be a good result for this new year if they could totally extract Maxwells at about 100 tonnes per day
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