Panning for Gold
The ratio.
A gold mine's profitability depends partly on the ratio of the TONs of ore
that has to be processed to secure just 1 ounce of gold.
Gold mines are classified by the number of ounces of gold refined per ton of ore.
Low-grade ore: .03 ounce gold per ton of ore
Medium-grade ore .02 - .15 ounce gold per ton of ore
High-grade ore: .15 -.6 ounce gold per ton of ore
Bonanza-grade ore: .6+ ounce gold per ton of ore
1 ton of ore weighs 32,000 ounces
So, for high-grade ore, (.3 ounces per ton) the ratio is 96,000 to 1, ore to gold.
Wow. Those dedicated to seeking gold happily submit themselves to this ratio...
