Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Hi Folks
Firstly I would like to thank all posters for all of your thoughts, expectations and views, I have found this weekends posts in the main very informative.
I have spent the last couple of hours going over Newcrests' site to remind me of what they have reported.
One point that I found that I dont believe has been posted on this BB is Newcrest have a long term metal price assumptions used for Reserves and Resources estimates. Ore resource estimates Gold price US$1200/oz and Mineral Resource Estimate Gold price of US$1300/OZ.
i personally think we will have a bit of a roller coaster week ahead so will top up on the lows because I am confident that this SP is only going one way. I am expecting results that state that the pay zone has increased. Depending on which holes they declare I believe we should see similar high grades from the mineralised breccias.
I wish all holders the best of luck over the coming week although I dont believe we will need it. The results will carry us to where we all want to be.
Lab
Hi Mo Any calculator will work. Example
You own 500 shares bought at 50p 500 x 50 = 250
You buy 500 more at 25p 500 x25 = 125
Your average is total price paid divided by total shares bought therefore
250 + 125 = 375 divided by 1000 = 0.375 ie 37.5p per share
I have just run through calculator using PaddyGalls' dimensions
350 x 430 x 650 = 97,825,000 cubic metres
x 2.7 =264,127,500 tonnes if we use 2.5 grams per tonnes combined(which I think would be conservative)
=660,318,750 grams
divided by 31.1= 21,232,114 troy ounces and still open to nw and depth this is certainly looking good.
Just to put the record straight it was Gordon Brown Labour who sold about half of our gold reserves.
Im afraid your a long way out with your calculations if my calculator is working correctly
100m tons of ore @2 grams per tonnes =200m grams divided by 31.1 = 6.43m troy ozs
If the resource was 255 m tonnes @ 2 grams = 510 m grams divided by 31.1 =16.3m troy oz
If my calcs are correct (please feel free to double check) I hope morning suns' view is correct. Now I'm off to bed to dream away
Hi all, I believed that the $25m was not extra but was brought forward from Newcrests 2021 budget to their 2020 budget. I cant find it at the moment but I am certain that was the way I read it. Can anyone confirm this?
My views exactly.