GEOs are based on conversion ratio of 65:1 for silver to gold for 2016 and 55:1 for 2015. This is the referenced ratio throughout this release
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1) According to Kitco, the average selling price for silver in 1q16 was U$14.91/oz
2) According to Argonaut Gold (AR.to), there are 65 ounces of silver in one gold ounce equivalent. We quote from the company's 1q16 production NR...
...to prove that (with "GEO" meaning "gold equivalent ounce, for those of you just joining us)
3) Therefore, it stands to reason that AR.to would be willing to sell you one of the gold ounces it produces for U$969.15. Go on, phone em up and ask em nicely...
Further questions? Ah yeah, what they say they produced and sold in 1q16...
...compared to previous quarters and hey wow Yathink the way they sold over 2k oz GEO less than they produced may have something to do with their bullshit GEO production claims? Yathink? Mebbe?