Per the bold print; - yes - the prices LARGE board buyers pay is based entirely on the recovery values of the PMs (Au/Pd/Ag/Cu) in the various "categories" of boards (keep in mind that these LARGE board buyers are in business to "make a profit" after purchase price & their overhead cost which it's self is large)
These LARGE board buyers buy with the express purpose of sending their boards in simi trucks &/or overseas shipping containers to LARGE smelters & they do so because the smelters pay them based on the PM recovery
So - in order for these buyers to determine what they can pay for a particular category of boards (& make a profit) they have done their home work & that home work is in fact based on having done "representative sample assays" of the particular board category
Jon (from England) who buys boards in large amounts built his business on knowing the PM values in the different categories & he knows those values because of assays he has done on each category
He sends several shipping containers of boards to Mitsubishi in Japan (the smelter) knowing full well he will make a profit on the PMs in the boards because assays have been done on each category in order to determine purchase price of each category
Here is a link to Mitsubishi where Jon send his boards
https://www.mmc.co.jp/corporate/en/...as well as by-products such as sulfuric acid.
The same is true with Dynamic Recycling in Wisconsin whom I used to sell 2 - 3 tons of boards per month to
They also set their board category pricing because assays have been done on each category to insure they will make a profit on the boards they send to the smelter
https://thinkdynamic.com/
Dynamic also sends their boards (for smelting) to Mitsubishi in Japan (at least I believe it's Mitsubishi - I know they send them to Japan) they send about 130 - 160 shipping containers per month to Japan
IRT Recycling in Minnesota - whom I have also done business with (another LARGE board buyer) actually has there own assay lab
https://irtmn.com/
Also - 2 or 3 times a year I would take a lode (plus/minus 2 tons) of boards (higher grade) to a "small" smelter in Minnesota because doing so would pay me a bit more profit then selling to the board buyers - which is why I did this with higher grade boards - smaller lot size but better profit
https://www.enviro-chemmn.com/
In other words - I purchased boards based on the price listing of these board buyers (paid 20 -30% under their list price) I then sold the mid & low grade boards to these board buyers - the higher grade stuff I took to the smelter - the VERY HIGH grade stuff I processed in house - when I took stuff to the smelter I knew exactly what the value of those boards were if I sold them to a board buyer because I had the boards "well sorted" into there (higher grade) categories & therefore knew just how much more I was making sending to the smelter instead of selling to the board buyer - & it was always a bit more sending to the smelter then selling to the board buyers
In other words - YES - board PM values are ALWAYS higher then board purchase value & that is because board PM values determine the board purchase price - on which the board buyers MUST make a profit on when they send the boards to the smelter
So (as example) if a board buyer pays $28 per pound for RAM they pay that price because when they send a simi lode &/or shipping container of RAM to the smelter - they know that the PMs the smelter pays them on will "net" them a profit
Now - does that mean that every RAM stick has the exact same value - of course not - it means they have done enough assays on LARGE lots of RAM to KNOW that they will net a profit on the purchase price they pay for RAM
There is enough of a mix even in even a 100 pound of RAM for this "profit" factor (something great then purchase price) to hold true
Kurt