ST Alpha - "it's the difference between multiplying tonnes by grade at one decimal place and two. anyone who's doing this professionally should know that." (Reading a Post)

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In response to "If it's beer maybe that's a rounding error, gold maybe not so much -- nm" by JD

it's the difference between multiplying tonnes by grade at one decimal place and two. anyone who's doing this professionally should know that.

Posted by mafic Feb 26 '24, 18:10

both the sheets even have "minor discrepancies may occur due to rounding." it's also a difference over millions of ounces and in a spot that's almost certain to never be mined or processed. it's even more pedantic than I expect from a big 4 auditor.

Responses:

$650,000 approx -- nm - zeitgeist Feb 26, 18:19 1
- honestly no mine in the world knows how much gold is in their deposit within probably 10%. depending on size I usually round to the nearest 1000oz. - mafic Feb 26, 18:24
That moment I realize Mafic is sitting on a literal gold mine. -- nm - David Feb 26, 18:15
I get that it *sounds* like a lot, but it really isn't. -- nm - mafic Feb 26, 18:12 3
- Definitely stick with that story. -- nm - Reagen Feb 26, 18:16 1
  - AND DON'T LOOK IN MY SHED -- nm - mafic Feb 26, 18:17
- Oh. Tonnes and significant digits. It's a rounding error -- nm - JD Feb 26, 18:15

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it's the difference between multiplying tonnes by grade at one decimal place and two. anyone who's doing this professionally should know that.

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