Practical application of the EQV Gold Production Formula
Here are few practical examples of the EQV Gold Production formula and how our company is using it to assess the present mining operation and to predict our investment and the future gold mining production.
The formula is simple and applies to small scale mining of gold and may apply to other types of minerals as well.
Te full and expanded EQV formula relates not only to the production of gold but to the income of gold mining production, operational expenses and other expenses.
Every small scale mining company may increase and improve their outputs by observing the factors that are most important and relate to each other, the present and future Equipment and its capacity and usage, the Quality of ores, gold and processing and the Volume of ores being excavated and processed.
Main information on EQV formula is shown here: https://www.startyourowngoldmine.com/dpe/planning/knowledge/eqv-formula.html
In case of production, and improvement of the production, formula is used as described on the main EQV formula page.
The basic EQV formula is:
Gold Production equals the = Equipment + Quality + Volume
It means gold production will take place by usage of the equipment capacity, by observing the quality of ores and gold and output quality, and by providing and handling the volume of ores.
The expanded EQV formula is including the expenses and is applied to the income of the gold production.
INCOME = Gold Production - (Expenses(EQV) + Expenses(Other))
Expenses of EQV is directly related to operating expenses, while other expenses are those relating to company operation expenses and not directly to the production.
The formula may be used for other types of minerals.
Examples of practical application:
We are to assess the operational mining site and to improve the gold production. Upon the Preliminary Site Assessment and Inspection we are inspecting what equipment is there on mining site and if equipment capacity is used to the full or just partially, if equipment is used properly, we are assessing the quality of ores, and how is ore found, dug, if they take care of good ores or following the good ores, and what is quality of ores, and what actions are done to find new better ores in future, and we are assessing what volume of material is being excavated, how, by how many people, and how much volume is required to complete the equipment capacity and what is required to increase the volume of ores in future.
Usually, after the Preliminary Site Assessment and Inspection we are making the plan for future gold mining production, and in estimate of such future, we are directly using the EQV formula. We are estimating types of ores, and what machinery and equipment is to be applied to reach certain production output. We see what is the purity of the gold on the site and we make the estimate calculation.
There is more information that relates to each part such as Equipment, Quality and Volume yet we are presenting it in simple form.
It is possible to improve each part of the EQV and it is possible to improve and increase the equipment by doing new investments, it is possible to maintain the quality of ores by doing constant prospecting and search for ores to be used in future, it is possible to increase the volume to dig and excavate more ores up to the capacity of the equipment.
By increasing any part of the EQV formula thus it is possible to increase the gold mining production.
Sample estimate of future gold production
This is the sample estimate of future gold production based on the EQV formula.
Sunday 2017-04-23 (GMT+3) 08:43:30 - Gold Price: US $1284.5 ================================================== NAME OF MINING SITE HOLDER: SYOGM - EQV Formula - Estimate ================================================== (E) - Equipment capacity: 2.00 tonnes per hour (Q) - Quality of gold and ores: 6.00 grams per tonne, of 95% pure gold (V) - Volume of ores to process: 20 tonnes per day in 10 working hours ================================================== EQV = Gold Production (idealistic estimate): ================================================== Daily estimate: 114.00 grams per day or US $4,707, EUR 4,400, TZS 10,463,680 Monthly estimate: 3,419 grams per month, or US $134,176, EUR 132,022, TZS 313,910,426 Yearly estimate: 41,039 grams per year, or US $1,694,854, EUR 1,584,272, TZS 3,766,925,120 ================================================== Expanded EQV formula, income without overall and full expenses: ================================================== Running expenses (not accurate) in US $394,139, EUR 368,423, TZS 876,000,000 per year Income after expenses in US $1,300,715, EUR 1,215,849, TZS 2,890,925,120 per year Sharing part for license holder: 40.00% and for Tahir Elfaki: 60.00% ESTIMATED YEARLY INCOME: Income for license holder in US $520,286, EUR 486,339, TZS 1,156,370,048 Monthly income, after expenses: US $43,357, EUR 40,528, TZS 96,364,170 Income for MINING SITE HOLDER in US $780,429, EUR 729,509, TZS 1,734,555,072 Monthly income, after expenses: US $65,035, EUR 60,792, TZS 144,546,256
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