Found the majority of the post Buck:
The original classic was posted on Aug 17, 2011 @ 7:53 PM
Anyway, here ya go:
Ok, before anyone reads this and yells pumper from the hill tops let me clarify a few things. I am using ASSUMPTIONS and I have them listed. In addition to those assumptions I have NOT scaled anything down to account for the rounded corners of the anomaly etc. The reason is that the giant anomaly has a rather large sister that I am ignoring and the little sister has 19 babies that are near surface and are also ignored. So, while I do not use scaling I am ignoring a very large portion of the property containing anomalies that are associated with gold samples. So, drum roll please: =================== Calculation of resource: Assumptions: Volume = 5905’ (feet)*5577’*4265’ = 9363717935 tons Density = 15 cubic feet per ton Scaling = Not used as this anomaly does not cover the entire property Grade = 0.03215075 Oz/t average Total ounces housed on property 301,050,522 Oz =================== Calculation of Value: Assumption #1 $100 per ounce in the ground – this figure has been used for years and was used when gold was valued under $500 per ounce. Value = $30,105,052,200 Assuming 121 million shares outstanding: Value per share = $248.80 Assumption #2 $1300 per ounce in the ground – Andean was taken out for this amount based on expectations of a lot more gold to be found. Value = $391,365,678,600 Assuming 121 million shares outstanding: Value per share = $3234.43