Miramar Mining’s executive VP Stephen Quin has a more sophisticated formula than our divide-by-ten rule of thumb for calculating a gold equivalent figure from silver ounces. He writes from Vancouver:
“With respect to the Sabina story, 140 million oz of silver is more like 2.25 million oz of gold not 14 million oz. Gold is US$438/oz and silver is US$7/oz, equal to a ratio of 62.5 not 10.”
Thank you for a more realistic estimate.