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Aandi,
Thank you for a great piece of number crunching. A weighted average has always been easier for me first thing in a morning rather than at night
Manilla.
Format looked fine on computer, here is it fixed for mobile
From the geology report you posted page 426 Table 1, I have crunched the numbers for Rhodium content.
Samples below are three from Ore zone 1 and two from ore zone 2
For zone 1 "The share of low-grade ore is 54%; ordinary, 28%; and high-grade, 18%"
And for zone 2 "the low-grade ore content is 46%; ordinary,32%; and high-grade ore, 22%
Average of both zones for the 5 samples = low - 50.8%, medium - 29.6%, high - 19.6%
¡Low¡Med¡ < High > ¡ grade zones (g/t)
Pt 0.34 0.43 1.22 1.04 1.73
Pd 0.60 0.64 2.11 2.31 3.97
Au 0.10 0.03 0.28 0.16 0.22
= 1.04 1.10 3.61 3.51 5.91
Ru 0.038 0.095 0.040 0.51 0.017
Rh 0.062 0.053 0.113 0.051 0.092
Ir 0.019 0.0003 0.011 0.005 0.001
Os 0.008 0.001 0.046 0.005 0.009
= 0.127 0.152 0.21 0.571 0.119
Total 1.17 1.25 3.52 3.62 6.04
0.11 0.14 0.06 0.16 0.02
ratio of (Ru,Rh,Ir,Os) to (Pd,Pt,Au)^
0.05 0.04 0.03 0.01 0.02
ratio of Ru to total PGM+AU^
Total 1.17 1.25 3.52 3.62 6.04 pgm+Au (g/t)
Weighted average Rh over low/med/high grade zones = (0.508 x 0.062) + (0.296 x 0.053) + (0.196 x ((0.113+0.051+0.092)/3)
= (0.031496 + 0.015688 + 0.016725)
= 0.063g/t average rhodium over the two zones
2.1g/t Pd equivalent at todays Pd price of $2180oz
0.063g/t at todays Rh price of $10975 oz
Rh = 5x the price of Pd, so the volume of Rh expressed as Pd equivalent is 0.315g/t, or 15% of the resource value.
The 1.9moz Pd(eq) resource contains 3% volume rhodium worth 15% of the total $ value.
As the price of Rhodium doubled over the last 9 months, it will have added 7.5% value to the resource (without factoring in the change in value of the other metals)
Hi Rowka. I will reply to you on twitter shortly.
From the geology report you posted page 426 Table 1, I have crunched the numbers for Rhodium content.
Samples below are three from Ore zone 1 and two from ore zone 2
For zone 1 "The share of low-grade ore is 54%; ordinary, 28%; and high-grade, 18%"
And for zone 2 "the low-grade ore content is 46%; ordinary,32%; and high-grade ore, 22%
Average of both zones for the 5 samples = low - 50.8%, medium - 29.6%, high - 19.6%
Low Mid < High >
Pt 0.34 0.43 1.22 1.04 1.73
Pd 0.60 0.64 2.11 2.31 3.97
Au 0.10 0.03 0.28 0.16 0.22
= 1.04 1.10 3.61 3.51 5.91
Ru 0.038 0.095 0.040 0.51 0.017
Rh 0.062 0.053 0.113 0.051 0.092
Ir 0.019 0.0003 0.011 0.005 0.001
Os 0.008 0.001 0.046 0.005 0.009
= 0.127 0.152 0.21 0.571 0.119
Total 1.17 1.25 3.52 3.62 6.04
0.11 0.14 0.06 0.16 0.02 ratio of (Ru,Rh,Ir,Os) to (Pd,Pt,Au)
0.05 0.04 0.03 0.01 0.02 ratio of Ru to PGM+AU
Rh 0.062 0.053 0.113 0.051 0.092
Total 1.17 1.25 3.52 3.62 6.04
Weighted average Rh over low/med/high grade zones = (0.508 x 0.062) + (0.296 x 0.053) + (0.196 x ((0.113+0.051+0.092)/3)
= (0.031496 + 0.015688 + 0.016725) = 0.063g/t average rhodium over the two zone
2.1g/t Pd equivalent at todays Pd price of $2180 oz
0.063g/t at todays Rh price of $10975 oz
Rh = 5x the price of Pd, so the volume of Rh expressed as Pd equivalent is 0.315g/t, or 15% of the resource value.
The 1.9moz Pd(eq) resource contains 3% volume rhodium worth 15% of the total $ value.
As the price of Rhodium doubled over the last 9 months, it will have added 7.5% value to the resource (without factoring in the change in value of the other metals)
The Rhodium content may have been staring us in the face. Look at the Eurasia website, https://www.eurasiamining.co.uk/operations/monchetundra
Now look at the table, Pd eq (2PGM+Au) = 59T
But the totals for gold, platinum and palladium only add up to 47.6T
So 11.4Ton or 20% is missing.
Ruthenium, rhodium, osmium, iridium make up the other PGM's
Let's attribute 3.7% to each of these 4 and 5.2% to rhodium.
Looking at page 427 from Rowka's linked document, you can see the Rh distribution from different samples, it is not too much different from the gold content, but higher than Ruthenium, rhodium, osmium and iridium.
So, lets round the gold down a little bit, from the table lets call it 1.8T Rh compared to gold's 2.1T / 59T = 2.5% rhodium.
Rd is 5x more valuable than palladium today, so 12.5% of the valve is in Rhodium.
Or using 5.2% of Rh content from the missing PGM tonnes, at 5x Pd value that would be 26% Rhodium value (today)
So we can say that when the price of Rhodium doubled (as it has in 9 months) it has increased the valve of the deposit by 13%
Prices in (november 2019) vs today
Pd ($1816) $2180
Pt ($950) $916
Au ($1510) $1954
Rh ($5400) $10975
So in 2019 Pd was 2x more valuable than pt and 1.2x more valuable than gold, and Rh was 2.9x more valuable than pd.
you jack s'/t about putin think your self lucky you live in blighty.
Good reply Rowka . Never straight forward in Russia with Mr Putin and mates in power, probably some large brown envelopes being slipped into officials pockets during negotiations!!
i want this share to sell for £1 +. My only nagging concern is Russia not wanting to sell its resources to someone foreign and a shady deal being done.
Thoughts anyone and this is a honest question not deramp. GL everyone.