Uganda Gold Ore Discovery . . .
I wonder if this had anything to do with the recent drop in the gold price?
James
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.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..........Uganda Gold Ore Discovery . . .
I wonder if this had anything to do with the recent drop in the gold price?
James
it could be also fake information partially or .... that happens in markets all the timeHa! I briefly caught some part of this story yesterday. It immediately smelled like Bat-Soup 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
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.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!!!!
I know a guy... I can get all the physical gold I can afford. Which isn't much, but I can get it!I bet you can buy as much paper gold as you want but physical will not so easy to find
Corrupt African nation + China = MEGA SCAM!!!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.
Look at South AfricaWith 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?
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.
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."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?
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