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Gear Pan
The lil Gold Spinner
The lil Gold Spinner
The Pocket Sluice

Author Topic: Placer mine estimates are these amounts viable  (Read 942 times)

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Offline mcbain

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Re: Placer mine estimates are these amounts viable
« Reply #10 on: September 11, 2018, 09:07:38 PM »
Hi.Geezer  good post but that was 16 years ago.The cost of fuel alone has  gone up 4 fold so has the cost of living.O.03g is going to get you broke real fast.A235 cat excavator in good shape was under 500,000 cost over a million today and gold has not gone up that much.Luck Mcbain.
I started out with nothing Istill have most of it.

Offline geezir

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Re: Placer mine estimates are these amounts viable
« Reply #11 on: September 13, 2018, 04:18:39 PM »
Hi.Geezer  good post but that was 16 years ago. The cost of fuel alone has  gone up 4 fold so has the cost of living.O.03g is going to get you broke real fast. A 235 cat excavator in good shape was under 500,000 cost over a million today and gold has not gone up that much. Luck Mcbain.
Good points Mark but 0.01 troy oz is (31.1035 times 0.01) or 0.31 grams.
In 2002 gold jumped 23% from 2001 to $342.75US per oz.  (3.4275 dollars per unit)
Today spot gold is about $1200 US per oz.                                      (12.00 dollars per unit)

The 235 Cat was a great machine used one on a Cariboo property in the 80's.
I also used a John Deere 270 on the Ski to Sky construction  52410 lb vs 101831.5 lb but I'm sure it would outwork the 235.
. . . and to quote a wise man "just sayin'"   <-wave->   <-good_>

Offline BCGQC

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Re: Placer mine estimates are these amounts viable
« Reply #12 on: September 13, 2018, 06:24:55 PM »
The price of fuel at the pump has double since 2002 so you would need $3.4275 * 2 =$ 6.855 US per yard to get the same profit.  So you need 0.0057 oz/ton or
0.1776 g/t.

Offline mcbain

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Re: Placer mine estimates are these amounts viable
« Reply #13 on: September 13, 2018, 08:32:22 PM »
Hi.Guys great to see us old farts brushing up on the math.But any way you slice it.There has to be a profit margin after costs.I at the end of the day you only recover 0.2 g per ton and it cost you that.What have you got to live on?Lets say your recovery was 0.3 gper ton and you processed enough tonnage you might do very well or depending on the tonnage you may be appling for social asstiance.0.01 is a pretty thin profit.Even at 50.00 per gram that leaves you with 5.00 dollars per ton.If you expected to make a 100,000 per year you would have to process 20,000 tons.easyfor some impossible for others.Luck Mcbain.
I started out with nothing Istill have most of it.

 


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