Gold Miners Hunker Down Amid Financial Storm
December 2008 by Sandy Shore“Our company and our industry are currently operating in an unprecedented macro business environment, consisting of extreme commodity price volatility, mass portfolio liquidation, global inflation and limited, if any, access to capital,” Newmont Chief Executive Officer Richard O’Brien said.
• BLM blocks Democrats
• PLP has their hands full representing miners
One of the most asinine proposals in the SEIR is to require miners to state when and where they will be dredging. This information would be accessible to the public, which would make them prime candidates for getting their homes burglarized while they are out mining.
An example of some of this extraordinary ore was a lot of about four tons from the Florence mine during the last days of a lease that averaged over 300 ounces of gold per ton.
If the events of the past month have proven anything, they have confirmed the old adage that gold is truly a measuring device for the “International Temperature.” During the first half of the year and into mid-August, wars, threats of Iranian “peaceful” nuclear devices and North Korean nuclear jawboning drove gold to two-decade highs and kept it well above $600 per ounce.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
The Circle Goldfields are located about 120 miles east of Fairbanks in Interior Alaska and they occupy about 200 square miles. The Crazy Mountains boast the highest point in the district at 3,690 feet above sea level.
I have made my living gold dredging for the past 25 years, and I am often asked how someone should choose their first, or next dredge. There are many considerations, and I hope to save you time and aggravation by sharing with you what I have learned.
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