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Message: Re: Chinese Russians and will set off the mine of the Claritas
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Jul 04, 2009 06:17PM

Are we sure that it isn't the reporter who is suggesting 13.6 for Kry and 10 for Grz.

From Crystallex's web site : "Calculated at a US$550 per ounce gold price, Las Cristinas’ proven and probable reserves currently stand at 464 million tonnes, grading 1.13 grams of gold per tonne for a total of approximately 17 million ounces of gold. The reserves are included in a measured and indicated resource of 20.8 million ounces of gold. In addition to the measured and indicated resources, Las Cristinas contains inferred resources of 6.3 million ounces of gold."

Youcan get 23 million by adding the 17 million and the 6.3 million. All these are based on $550 gold and not the current price. I would imagine we can get to 23 million by using a higher gold price as well. The following chart is from the web site as well.


Las Cristinas Reserve Sensitivities -
Lerchs-Grossman Pit Shell Sensitivity

Gold Price Ore Grade Contained Strip Ratio
(million tonnes) (g/t) (million ozs)
$450 337 1.30 14.16 1.76
$500 414 1.20 15.98 1.55
$550 489 1.12 17.56 1.39
$600 552 1.06 18.83 1.30
$650 614 1.01 19.91 1.21

Reserves calculated by Mine Development and Associates in accordance with Canadian NI 43-101

No matter how we look at it Kry has a lot more than 13.6 million ounces. Fungs back of the envelope calculation was based on 17 million ounces so I would tend to think we get to 23 by adding the 17 million and 6.3 inferred.

I'll stick with Fungs 2 billion plus figure.


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