UPDATED: My back-of-the-envelope calculations
in response to
by
HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"
NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)
Message: UPDATED: My back-of-the-envelope calculations
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Based on the PGMs reported, my revised assumptions are:
1. VMS Cu/NI/PGM ore = 2.6 tons/yard = 3.08 tonnes/cubic metre;
2. 500m X 50m X100M = 2,500,000 cubic metres;
3. 2,500,000 X 3.08 = 7,700,000 tonnes of ore @ $814/ tonne (Rockaur's number);
4. 7,700,000 tonnes X $814 = $6,267,800,000 worth of ore.
The above figures are guesstimates just to get ballpark valuation for now. Anyone with more precise figures, or different figures, please speak up.
Regards,
B.
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