FOOLS AT THE TOP.   Interviews with fools.

SIMPLE QUESTIONS = SIMPLE ANSWERS - But why didn't you know?

How many people employed in high positions of industry actually dont know the basics of their own industry.

1.  Example recently I asked a diamond trader what is a carat of diamond mean.  Oh, he said its the weight of the stone.   I asked OK that's good what exactly is a carat in weight compared with a Kilogram. I asked how many carats in a gram?  Remember this is a diamond trader with twenty years experience. "Dont know", he said.  I said 5 carats = 1 gram.  Oh he said "thats good to know."

2. We often talk to our brokers and analysts about oil and gas and other commodities. I once asked an oil trader with a hedge fund, "What is the price of oil today"?   Um, $US45 a barrel. ""Oh thats great i said". I asked "What exactly is a barrel of oil", Its a barrel, he replied oil is sold by the barrel."  "Yeah but if I want to compare with the price at the pumps per litre, how do I compare"?   "Fucked if I know, who cares." I told him that there was 159 litres in a barrel,  He said to me,  "shit thats a lot of oil for $US45,  that's good to know, thanks for that.

3.  Same with Gold. Question: What does 1 ounce of Gold represent in Grams? 31grams = 1 ounce.

4. What is the difference when reporting Gold in PPM (parts per million) or gpt (grams per tonne)
Nothing.  1 gram = 1 ppm.  There is 1,000,000 grams per tonne and 1m ppm per tonne.

5.  When reporting the percentage of mineral in an intersection of  1800ppm or 1%Cu. (we all know that Cu stands for Copper, right?)  What does it mean?  What does 1,800ppm actually mean.  It means that the hole returned in a 1 metre zone a grade containing 1,880 grams or ppm of Copper average per tonne..
So what does 1% Cu represent?  10,000 grams or 10,000ppm = 1% Copper.   So 1% Cu in a 1 x metre intersecting actually contains 10,000 grams or ppm per tonne if you mined that material.

6.  What is the SG (Specific Gravity or the weight of a metal per cubic metre) of Copper and Gold and Tungsten.  1 x Cubic Metre of Copper metal 99.99%.  Copper weighs  =  8.9 tonnes per cubic metre.

Gold weighs 19.3 tonnes per cubic metre. ( so could you lift once cubic foot 12" x 12" x 12" of Gold?? it weight approx 1.93 tonne) Tungsten weighs 19.22 tonnes per cubic metre.   Steel is 7.8 tonnes per cubic metre. Water is 1 tonne per cubic metre.     Next blog I will show yoiu something that your eyes will fall from your head.

I have run out of time today but will continue this blog and continue to educate the obvious. This Bog master is going to open some eyes over the next two weeks. Believe me.!