What mining company gets gold from the ground for a penny an ounce and has a recorded reserves of 12 ml ounce?

Its a small company which already has 5 mines running and one more under construction. It also have 2 billion pound of cooper on its property. The company has no debt. All above info came from the "Daily Reckoning" newsletter which is part of Taipan Financial Group.What mining company gets gold from the ground for a penny an ounce and has a recorded reserves of 12 ml ounce?
A penny an ounce? sounds like somebody is tweaking their financial report to look more appealing for potential investors.



Give the name of the company please, I'd like to research this.



Additional comment: I read the report. The article does not say they are getting the gold from the ground for a penny an ounce, it says they are mining copper (these metals often run together) and extracting the gold for a penny an ounce. It may have cost them several dollars per ton of raw ore to get it to that stage of the recovery and in their purification process, they are extracting the gold from the ore. The statement is still misleading as it may have cost them quite a bit to get that ounce of gold and being in Brazil, their process could be environmentally damaging, we just don't have enough facts here.What mining company gets gold from the ground for a penny an ounce and has a recorded reserves of 12 ml ounce?
A penny an ounce is impossible. I'm calling shenanigans.



Normal yields in quartz rocks are tiny, which means you would have to go through tons of rocks just to get a single ounce. You couldn't fuel the trucks to carry the ore.



Let's say large 99.99% refined gold is lying in the open. Stacked and gleaming in the sun. Who could you pay to go pick up 12 cents (one per troy ounce) per pound to pick up the stuff. Well, you might - but it takes an example this ridiculous to show how this is impossible.



Hey... if it is too good to be true. It is.



Also, don't believe everything you read on the internet.What mining company gets gold from the ground for a penny an ounce and has a recorded reserves of 12 ml ounce?
The gold buried in the ground is worthless.