In some
mining company reports or refinery agreements,
production of silver (and sometimes other metals) is converted into the equivalent
ounces of gold using the current ratio of
silver-gold prices. For example, with silver at $5 per ounce and gold at $280
per ounce, the silver-gold ratio would be 56 and 70,000 ounces of silver would
be credited as 1,250 ounces of gold.