You might get a range. Variations with the specific gravity of quartz on large pieces like that is the issue as I see it.
I think he'd be better off if he were to get rid of that excess quartz by knocking it off and acid treating the remaining pieces so you'll have some nice gold in quartz specimens. There's just too much quartz attached as it is.
As an investor I evaluate mainly on 4 points prior to invest in a company
1-The properties company already carries.
2- What will be the value of share when selling or standby
3- How many time the income will be multiply
4- Value for the share/investment for turnover
Instead to look over only management capability for a long lasting output, The important is to invest in a company which have huge assets than my investment. A company have always management arrangements for best managements for success of a company but the most important is the company properties as without adequate company assets it very rare to get good return on investments
In my opinion The most considerable is point 3 & 4
Assets of Abcourt:
They got a loan of 6.5 M$ recently for the equipment However if we look on the assets they have already in their hands these are estimated 80 M $.They have adequate equipment for 2 mines , A complete mill and all the necessary equipment to resume a third mine that was a value of 7M$ If we compare the market value of all of their assets it is big amount of 80M $ if anyway they want to sold of all these assets.Curruntly Abcourt have a market capital of 40 M $ , So in my estimate the value is double than I am giving right now!
The marketing value & the standby value is occasionally interested specially if someone is interested to purchase our assets.
So in this case to create a 750 TPD mill at present as we have one Sleeping giant would cost 100 million range and if upgrade elder mine as Head & Sleeping giant it would cost a 40 M $ each, To purchase a potential land as Flordin & Discovery it would need a few million dollars .To obtain previous Silver /Zinc mine as Barvaue with full equipment and somebody can simply pay 20 to 40 M$, Therefore I can say that all the way the market value of Abcourt is 200M $ range and it is 5 time more than the present market value.
Upon view at income I want to value 5-10 times income because that's what traditional money can be for a productive asset. This type of return can be based on income from any type of business with good margins.