MOX 0.00% 0.2¢ monax mining limited

actually not that bad... Thought that the results would be worse...

  1. 1,104 Posts.
    actually not that bad... Thought that the results would be worse than that. 10 g/t Au and 0.83% Cu is equivalent to approx $350 to $400 per tonne of rock at today's prices which is better than Olympic Dam (although 28m is big but not spectacular).

    At $800 per ounce, 10g/t of Au = approx $300 of gold per tonne of rock in the ground.
    At $8000 per tonne of copper, 0.83% of Cu = 8.3kg = $59 of copper per tonne of rock in the ground
    Total value of tonne of rock in the ground = $360 approx

    If you convert that to a copper equivalent:

    e.g.

    At $8000 per tonne of copper or $8 per kg of copper. You would need 45kg of copper per tonne of rock to get that value.

    Thats 4.5% copper equivalent!!

    Pretty spectacular intersection. Although at 28m its well short of Carapateena's 180m intersection (2.8% copper equivalent).

    However these holes are very widely spaced and if Carapateena is any indication, a very big intersection could be nearby.

    I am now back in. Got nervous earlier and sold out at $1.65 after buying in at 34c so am well ahead on MOX.

    Hole 3 meant to be the best. THis hole has surpised me on the upside as I thought it wouldnt be that good.

    what a rollercoaster!
 
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