GDR goldstar resources nl

million dollars a metre

  1. 2,853 Posts.
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    Did some calculations on the back of an envelope. The (very conservative possibly) resource estimate for the Tubal Cain pipe alone, which is 1000 metres deep in about a straight line down, is between 500,000 and 900,000 ozs. At A$1000/Oz, roughly the current price, this translates into about $500,000,000 and $900,000,000 worth of contained gold in the defined section. As the resource as defined is about 1000 metres deep but the top bit was taken out by the previous miners, that translates to about $500,000 to $1m per metre of depth, and much of the non reef rock will be left in place. Given the nature of the ore in the area and the conservative sampling used, it may be that the higher estimate will be closer than the lower one. Worth thinking about, as could be fairly cheap to mine, per ounce.
 
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