Gold Discovered in Thailand

Discussion in 'Gold' started by JulieW, Apr 1, 2013.

  1. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    http://www.nationmultimedia.com/business/Loei-could-yield-1-million-tonnes-of-gold-30203100.html

     
    JulieW, Apr 1, 2013
    #1
  2. Dogmatix

    Dogmatix Active Member

    Joined:
    Jun 22, 2011
    Messages:
    1,730
    Likes Received:
    14
    Trophy Points:
    38
    Location:
    Gaul (Australia)
    A million tonnes of gold? What's that, like more than the entire existing amount of gold that has been mined in history?

    Is this another April Fools or what
     
    Dogmatix, Apr 1, 2013
    #2
  3. finicky

    finicky Well-Known Member Silver Stacker

    Joined:
    Jun 10, 2011
    Messages:
    3,468
    Likes Received:
    75
    Trophy Points:
    48
    Location:
    Dreamworld
    Assuming there's a typo there and maybe 1m ozs of Au or something, is the above something to do with Kingsgate (KCN)? I have a small holding but it sure hasn't been a wealth winner in the decade or so since buying. Kingsgate has a significant exploration budget and as far as I know is the most significant gold company in Thailand.

    "Akara Mining Limited is the Thai subsidiary which operates Chatree.
    Thai investors hold 52% of the shares issued in Akara with the remaining 48% held by Kingsgate. Kingsgate maintains management control, enjoys the major economic benefit from the mine and provides regularly updated technical support to ensure the world-class standards and technical skills are maintained."

    http://www.kingsgate.com.au/company/chatree-gold-mine.htm
     
    finicky, Apr 1, 2013
    #3
  4. KMGeneral

    KMGeneral Member

    Joined:
    Apr 13, 2012
    Messages:
    258
    Likes Received:
    1
    Trophy Points:
    16
    Location:
    Sydney
    According to the site the post date of the article is April 1, 2013 1:00 am... needless to say, I'm sceptical to say the least.
    Google shows 2 other articles, a cut and paste job and a direct link back to the original...
     
    KMGeneral, Apr 1, 2013
    #4
  5. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

    Joined:
    Feb 26, 2010
    Messages:
    8,809
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    Gone Fishin'
    "Probable" is pretty low down the accuracy level for ore 'reserve' reporting. With increasing level of confidence from "Mineral Resource" to "Ore Reserve";

    Inferred -----> Indicated-----> Probable-----> Measured---->Proven
    Mineral Resource--------->----------->------------>--------->Ore Reserve

    But this is a loose definition....and it tends to vary dependant upon the country, company and how much pressure is put on the head geologist.
     
    Clawhammer, Apr 1, 2013
    #5
  6. SilverSanchez

    SilverSanchez Active Member

    Joined:
    Jan 17, 2011
    Messages:
    2,653
    Likes Received:
    13
    Trophy Points:
    38
    Location:
    Melbourne
    Probable is an economic ore reserve deposit

    Indicated is not

    measured is not

    Probable is the second highest level of accuracy
     
    SilverSanchez, Apr 1, 2013
    #6
  7. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

    Joined:
    Feb 26, 2010
    Messages:
    8,809
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    Gone Fishin'
    This is just on ABC's 7:30 Report now watching as I type... Tungkum is as dodgey as hell!!!!

    Totally corrupt, Gold gone missing, no corporate governance...Aussie investor/directors Clare Florence & Bruce Wunderlynch had to flee the country after trying to clean up the company board and got threatened with jail, criminal defamation, travel bans etc
     
    Clawhammer, Apr 1, 2013
    #7
  8. Aengrod

    Aengrod Member

    Joined:
    Jan 23, 2011
    Messages:
    877
    Likes Received:
    1
    Trophy Points:
    16
    Location:
    Thingamajigland [Europe]

    Its Bre-X statement under new management. ;)
     
    Aengrod, Apr 1, 2013
    #8

Share This Page