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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
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Message: Largest undeveloped property in the world!

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Re: Largest undeveloped property in the world!

posted on Mar 27, 08 11:56AM

Boss Kent I did say almost and you can do the math as well as I can..

KRY's plan as filed on SEDAR for which they applied for their permit, proposed an annual production of 300,000 ounces of gold. In fact if I recall correctly that was the initial production and it was to reduce in later years to something more like 270,000. Please correct me if I am wrong.

300,000 ounces at current gold prices of $947 an ounce has a gross spot value of $284 million.

GRZ plan as approved projects 63 million pounds of copper annually in addition to over 450k ounces of gold.

At the current spot price of copper of $3.92 a pound gives the annual copper production alone a value of $247 million.

Sure $247m is less than $284m but it's close enough to be called "almost" especially if you use the actual average annual production figure rather than the higher 300k ounce figure which was projected only for the initlal years of production.

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