Post
Topic
Board Securities
Re: [BitFunder] Kenilworth Exploration - Real World Mining Opertunity with Bitcoins
by
Deprived
on 04/06/2013, 10:28:16 UTC
Kenilworth Exploration has already a single hit of 107/gt Au-Gold in our one diamond drill.

Could you explain to us what "107/gt Au" means? Some general link to a relevant glossary or list of terms would be appreciated, if that's faster for you.

107/gt AU would mean 107 grams of gold per ton of ore (AU is the chemical symbol for gold).

So every ton of ore/rock mined would hold 107 grams of gold.  It doesn't sound much but is well above the minimum needed for extraction to be profitable.

It is, however, only one of the TWO main figures needed to assess the profitability of a find.  The other being the quantity of gold there (the size of the deposit).

The startup costs wouldn't be worth it if there was only 1 ton of ore there.  If there was a million tons of it then christmas just arrived early.

There's other factors affecting the viability of a find (e.g. accessibility, ore-type) but the gold content and the quantity of gold (or ore) are the two key ones.