Clarkdale Slag Project · Due Diligence

Value-of-pile worksheet (scenario math)

Owner worksheet · 2024-04-03 · reference prices as of that date
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Current price Gold=$2164.00 oz. Silver=$25.00 oz. Iron= $482 ton Copper= $0.25 oz Zinc= $2.49 kg
slag pile = 20.2 million tons or 646.4 billion oz.
Goldat 22 oz/ton22 x 20200000=444.4million oz x $2164= $961 billion
at 0.5 oz/ton0.5 x 20200000=10100000 oz x $2164= $21.8 billion
at 0.1 oz./ton0.1 x 20200000=2020000 oz x $2164= $4.37 billion
at 0.01 oz./ton0.01 x 20200000=202000 oz x $2164= $437 million
at 0.001 oz/ton0.001 x 20200000=20200 oz x $2164= $43.7 million
Silver
at 1.0 oz/ton1 x 20200000= 20200000 oz x $25= $505 million
at 0.1 oz/ton$50.5 million
Iron
at 33% iron$3.23 billion
20200000 x 0.33=6666000 tons x $482= $3.23 billion
Copper
at 0.34%$5.49 million
646,400,000,000 x 0.0034=219,776,000 x $0.25= $5,494,400
Zinc
0.024$1.2 billion
20200000 x1000=20200000000kg x 0.024=484000000 x $2.49= $1,207,152,000
This is the scenario math behind the value model: assay-derived grades applied to the estimated 20.2M-ton pile at April-2024 reference prices. It is a projection illustration — not a reserve statement. Contained-metal value is not recoverable value.

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