How much gold is left to mine?

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SternAAlbifrons
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Re: How much gold is left to mine?

Post by SternAAlbifrons »

John Bingham wrote: Fri Sep 25, 2020 8:12 pm
SternAAlbifrons wrote: Fri Sep 25, 2020 8:09 pm (hmm, maybe i'll up my gold holdings after all...)
Gold prices have been plunging in recent days:

:?
I don't care!! I just want a mountain of it.
:crazy:
I got the fever just writing the word 3 times.
monomial
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Re: How much gold is left to mine?

Post by monomial »

How much gold is left to mine?

You are asking the wrong question. There are huge amounts remaining to be mined. There are even 9 mcgs of gold in every cubic meter of seawater. The tquestion is not how much is left, but how much is left to be mined at a particular price point and at a specified rate. Raise the price high enough, and there are likely hundreds of millions of tons scattered in incredibly low density throughout the Earth's crust. You need to define your paramters.

It is a gradual tapering off. As the price goes up, mines which would be unprofitable today become profitable as long as energy prices stay reasonable. So a big issue that limits gold mining is the price of oil. If oil is cheap and gold is expensive, there is basically no limit. But the rate at which you can mine gold definitely is a problem. At some point you have the entire planet engaged solely in gold mining, and it still is only coming out at a trickle.
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atst
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Re: How much gold is left to mine?

Post by atst »

Oil was running out in the late 70 tees, or so we were told, can remember petrol rationing
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Alex
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Re: How much gold is left to mine?

Post by Alex »

atst wrote: Sun Sep 27, 2020 8:12 am Oil was running out in the late 70 tees, or so we were told, can remember petrol rationing
Exactly. And to think that some people believe that fake news is anything new!
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peter.john
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Re: How much gold is left to mine?

Post by peter.john »

still lots of gold out there,my old man owns a gold mine and he just ticks along at a casual pace, the idea of increasing production nearly breaks his heart,he reckons its safer in the ground,just firing up the mine when needed.i also worked in mines for 20 years and we left plenty behind,sure if the price goes up they may reopen or go deeper
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newkidontheblock
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Re: How much gold is left to mine?

Post by newkidontheblock »

Alex wrote:
atst wrote: Sun Sep 27, 2020 8:12 am Oil was running out in the late 70 tees, or so we were told, can remember petrol rationing
Exactly. And to think that some people believe that fake news is anything new!
Relatively speaking, to the oil refineries, and end users (us), oil was running out. OPEC controlled to source. 100% man made shortage.

As for gold being a currency again, bad idea. Gold is a fixed amount. Money supply needs to have a flexible price and flexible amounts. If zombies arrive and take over, gold will be worthless. Food, guns, ammunition, and medicine will have value.

Otherwise, dig away!

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Re: How much gold is left to mine?

Post by Oumedc »

You have to look at supply and demand its the shit hits the fan, Who can buy the gold?
3-5% of the people? They all ready have..
Silver will be better but of lesser Value And not big pieces look up snap
bullion or divisible silver bars in good can be gold also ...

New Kid on the block is right
Food, guns, ammunition, and medicine will have value.

But the most value also is seeds... this is why we have hidden seed banks all around the world

Skill set also a great Value.. Can you weld? can you do this or that?

If you have gold.. who understands you have a stash?
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Re: How much gold is left to mine?

Post by whatwat »

Why is there always a small group of people who continuously say there’s going to be a civil war or uprising?

No. There won’t be.
Don’t listen to Chinese whispers.
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