# Uganda Discovers 31 Million Tons of Gold Ore



## cosmetal (Jul 7, 2022)

Uganda Gold Ore Discovery . . .

I wonder if this had anything to do with the recent drop in the gold price?

James


----------



## Alondro (Jul 7, 2022)

cosmetal said:


> Uganda Gold Ore Discovery . . .
> 
> I wonder if this had anything to do with the recent drop in the gold price?
> 
> James


On the upside, with so much gold... IF it's legit... it's an African nation and China involved... automatically raise suspicion levels to 100 until absolute confirmation is achieved... that means making a currency on a gold standard should be EASY now. 

No more need for a fiat currency.


----------



## stella polaris (Jul 8, 2022)

Well. Then someone claim ore with a 1% gold i get a little smile. its 10 kg of gold per ton. Is it a gigant gold reef? Miscalculating probably.
At present situation many want to lower the gold price and we probably have a market manipulation going on. And its not China that wants a low gold price. Its the west.

I think it should be 320 ton and 5 kg refined per day. I would like to see the refinery that does 5 tons of gold, per day...

And nothing about the cost to get it up..


----------



## war_child (Jul 8, 2022)

Ha! I briefly caught some part of this story yesterday. It immediately smelled like *B*at-*S*oup to me. My initial thought was someone down the line gave reporters mixed units of measurements. Maby they meant to say "grams per ton" but said "ounces per ton" or a similar error, but who knows, it might have been political. If not, it sounds like they found another one of those "Olympic size swimming pools of gold" for the markets. I just remember hearing the A.M. radio claim Uganda "found" what sounded like somewhere between half and a third of the entire gold stock the USA probably* gave to the federal bank. I promptly dismissed the story as bad reporting, just like the time I woke up one morning and the news reporters were trying to tell me crude oil was currently trading for -$40 per barrel....


...I'll keep my ears open
mike


----------



## dpgold (Jul 8, 2022)

cosmetal said:


> Uganda Gold Ore Discovery . . .
> 
> I wonder if this had anything to do with the recent drop in the gold price?
> 
> James


that gold has to extracted and depending what the yield is and operation costs..........


----------



## dpgold (Jul 8, 2022)

war_child said:


> Ha! I briefly caught some part of this story yesterday. It immediately smelled like *B*at-*S*oup to me. My initial thought was someone down the line gave reporters mixed units of measurements. Maby they meant to say "grams per ton" but said "ounces per ton" or a similar error, but who knows, it might have been political. If not, it sounds like they found another one of those "Olympic size swimming pools of gold" for the markets. I just remember hearing the A.M. radio claim Uganda "found" what sounded like somewhere between half and a third of the entire gold stock the USA probably* gave to the federal bank. I promptly dismissed the story as bad reporting, just like the time I woke up one morning and the news reporters were trying to tell me crude oil was currently trading for -$40 per barrel....
> 
> 
> ...I'll keep my ears open
> mike


it could be also fake information partially or .... that happens in markets all the time


----------



## Ohiogoldfever (Jul 8, 2022)

I think it’s Bull Tucky. A defense of coincidence in court will get you sent to slammer. The worlds thirsty for gold like never before and the mother land of gold scams finds a legendary ore body.

Cough cough bullish!!!!


----------



## Alondro (Jul 8, 2022)

Ohiogoldfever said:


> I think it’s Bull Tucky. A defense of coincidence in court will get you sent to slammer. The worlds thirsty for gold like never before and the mother land of gold scams finds a legendary ore body.
> 
> Cough cough bullish!!!!


Yeah, it's CHINA and a KNOWN corrupt African country making the claims... total BS. Just market manipulation, trying to drop the price so they can buy up cheap before markets collapse.

Well that's fine. It means I can buy as much as possible while it's low too!


----------



## nickvc (Jul 9, 2022)

I bet you can buy as much paper gold as you want but physical will not so easy to find


----------



## Alondro (Jul 9, 2022)

nickvc said:


> I bet you can buy as much paper gold as you want but physical will not so easy to find


I know a guy... I can get all the physical gold I can afford. Which isn't much, but I can get it!

Having even a little will put anyone in a better place than the 90% or so who have none!


----------



## goldshark (Jul 18, 2022)

Sounds to me like they are mining bitcoin investors. Should be pretty lucrative for them, if any bitcoin holders have any money left.There is too much conflicting info. One statement gave the ludicrous statement that they had found whatever the BS amount was, while another stated the discovery was 12.5 metric tonnes. Don't know if any body did the math, but their claim is that they found 115 times the amount mined world wide in human history. All I saw of the miners in the youtube video, was some women picking up nuggets out of clay by the handful, which was obviously staged. A regolith deposit is pretty shallow, while others were feeding material into impact mills. So unless they have an extremely rich regolith deposit under every square inch of that country, I will call Shenanigins on them.


----------



## Alondro (Jul 18, 2022)

goldshark said:


> Sounds to me like they are mining bitcoin investors. Should be pretty lucrative for them, if any bitcoin holders have any money left.There is too much conflicting info. One statement gave the ludicrous statement that they had found whatever the BS amount was, while another stated the discovery was 12.5 metric tonnes. Don't know if any body did the math, but their claim is that they found 115 times the amount mined world wide in human history. All I saw of the miners in the youtube video, was some women picking up nuggets out of clay by the handful, which was obviously staged. A regolith deposit is pretty shallow, while others were feeding material into impact mills. So unless they have an extremely rich regolith deposit under every square inch of that country, I will call Shenanigins on them.


Corrupt African nation + China = MEGA SCAM!!!

Seriously, anyone dumb enough to fall for this DESERVES it. There's only so much stupid one can, and should, take pity on.


----------



## Hombressino (Jul 19, 2022)

Also on Reuters: Uganda says exploration results show it has 31 million tonnes of gold ore


----------



## Yggdrasil (Jul 19, 2022)

With 1 gram a ton it will amount to 31 million grams which is 31 000 kg which is 31 tons of Gold.
If it is ten grams a ton it is 310 tons of gold.
It is a lot, but not beyond plausible is it?


----------



## stella polaris (Jul 19, 2022)

Yggdrasil said:


> With 1 gram a ton it will amount to 31 million grams which is 31 000 kg which is 31 tons of Gold.
> If it is ten grams a ton it is 310 tons of gold.
> It is a lot, but not beyond plausible is it?


Look at South Africa


----------



## Alondro (Jul 19, 2022)

Hombressino said:


> Also on Reuters: Uganda says exploration results show it has 31 million tonnes of gold ore


That's an estimate, and much of it may be very low-grade. Anyone investing should wait for MULTIPLE independent validations of such eyebrow-raising declarations.


----------



## Alondro (Jul 19, 2022)

Yggdrasil said:


> With 1 gram a ton it will amount to 31 million grams which is 31 000 kg which is 31 tons of Gold.
> If it is ten grams a ton it is 310 tons of gold.
> It is a lot, but not beyond plausible is it?


Look at what they're claiming: "Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore."

AH-HA-HA-HA-HA... no. He's claiming they'll pull 1 tonne of gold for every 100 tonnes of ore. That's 10 kilos of gold per ton of ore! ABSURD!!

Total scam. Look at the bottom: "The company will compulsorily acquire a 15% stake in every mining operation and investors will be required to sign a production-sharing agreement with the government. Previously investors were given mining production licenses on a first-come, first-served basis."

It's to bilk suckers. Maybe a few will get lucky in a few ore hot-spots, but most will get fleeced.


----------

