Ed,
I like the calculations. I agree with BOUTS and others that the grades are probably higher than 3 g/t- it has to be to have brought the overall average up from 1 g/t to 3 g/t. They may be able to do even better with the on site lab available. Some of the asays on the web site are actually quite good.
I'm not sure I would count on 150 t/d any time soon, though. SFMI has a long history of overpromising mill rates. Just before the 2010 SHM a PR announced 140 tpd- then we were told at the meeting it was actually 40-70 tpd. Then a PR earlier this year put it at ~33 tpd. (BTW, the 140 tpd PR and all the PRs from before early this year are no longer on the web site as far as I can tell). So I would actually be glad to see anything over 100 tpd as an effective average (including down time).
Right now the total burn rate is ~$1M/month. That will change though- but I don't know which way. Only ~ $150k/month goes to running the mill. Much of the present burn goes toward rehabbing the Sinker and expanding the mill and building the permanent lab/smelter complex. Those expenses should end at some point, but of course money will then be needed to drill the Sinker, and in the spring to drill the mountain and for other preparations for mining, 43-101, etc. So it remains to be seen what the burn rate will be when things settle down (if that ever happens). But I do think that your calculations show that SFMI will be very close to breaking even, maybe even profitable, in the near future.
