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“Although the engineers and geologists are yet to accurately...

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    “Although the engineers and geologists are yet to accurately determine the tonnes of broken rock/ore that is remaining it is worth noting that for every 1,000 tonnes of sorted rock delivered for metallurgical treatment at a conservative grade of say 4g/t Au, recovery of 85% and total operating cost of approximately $60/t, the Company could expect to make an operating profit of around USD 750 per ounce of gold recovered at a gold price of $1300/oz."

    High grade but narrow, we know it is smaller than ***ong.
    "Based on a report released by Korea Resources, the mine produced 110,000oz of gold and 5.9 million ounces of silver between 1961 and 1975."
    Anybody want to take a stab at the number of tonnes of "sorted" broken rock here? Maybe there is a standard industry multiplier for an average mine's remaining broken rock - ie, 2.5% (just a complete guesstimate) of production could be broken rock?

    2.5% of total production = 2,750 oz gold, and 147,500 oz silver based on above KORES numbers. Or, assuming gold equiv of silver ($1287.80 gold, $16.31 silver / ounce, 78.96 multiplier), 2750 + 1868 = 4618 oz gold equiv from the sorted broken rock.

    $750 USD profit per ounce of gold (equivalent) at $1300, assuming the 85% recovery of silver holds also, is 750 * 4618 = a number close to $3.5mil USD.

    That's for starters.

    I am probably off the mark here, happy for somebody to add some corrections to those calculations. The "sorted" broken rock modifier makes it likely to be much less than simply all broken rock. I believe that the sorted rock averaged 5.12 g/t, and Barclay is only assuming 4 g/t in the above calculations.

    Are we still benefiting from KORES providing 70% of the direct drilling cost?

    Hoping today's move is evidence that finally somebody of size has seen the potential.

    Thanks to BMV for their efforts - video interviews, tweets and releases.
    SAU, you could be doing a lot better on the communications front than the tardy recycling of BMV produced materials.
 
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