posted on
Sep 27, 2012 06:39PM
Vette,
Where did this 20 to 30 Bil Revenue come from? My calc. Below based on conservative assumption of metal prices indicates well over $50 Bil without any new discoveries or resource expansion.
12 bil. gold based on 1200 per oz
30 bil. Copper based on 3.00 per lb
1.9 bil silver based on 20.00 per oz
8.4 bil moly based on 12.00 per lb
Total.$ 52.3 billion potential to be mined
Assume recovery of 85% = $44.5 bil to be sold. No new discoveries. No expansion of present resources.
Is this assumption of half the revenue due to the fact that they will only be able to mine the " $20 to $30 Billion" within the first 30 years.
If they are cutting the revenue assumption in half, I can certainly understand why Elmer doesnt want to spend any more money drilling.