Wait....... so he spent $39 on 0.7lbs (318g) of scrap material (which works out to a cost of $122.6/kg)
This material yields 1g of gold per 500g, so a ratio of 2g/kg.
Spot was $1130, so the 2g of gold he could extract per kg is worth $72.66.
Which gives a net loss of $50/kg, plus the cost of...
Picked this guy up the other day. I've known they existed for a while but never actually come across one before.
Perth Mint 1/2 oz World Expo 88 Button. These were struck on site at the 1988 World Expo in Brisbane. There is apparently a square 1 oz version also.
Hey guys, I've just recently obtained some various 1 oz bars privately.
I've got 2 Silvertowne bars that are raising some questions, so I'm after some opinions.
What attracted my attention initially was the difference in weights. The bar on the left (in all photos) weighs 31.52g (which aroused...
Thanks Bron.
So if the refiner buys at spot, but actually makes their money from the refining fee, does that mean the refined gold is sold to the mint at spot? So the premium comes entirely from the mint and the retailer?
I've just started wondering when (if ever) within the cycle from miner to retail customer a physical metal actually trades at spot price.
Obviously raw gold is sold from the miner to a gold buyer who then sells to the refiner (assuming it's not some massive multinational mining company that...
Yep, I got part way through the second episode, and gave it the boot, even with fast forwarding through the ghost "hunting" segments there isn't enough mining to keep me watching.
It's a shame no one has a show on hard rock gold mining.
The only other underground mining show I know of is...
Well I suppose those are the risks you take when speculating.
Though we are talking about silver atleast tripling in price here in a short amount of time. This is unlikely to be a normal upward trend. And historically something like that is followed soon after by a significant crash.
I guess...
Here's my uneducated opinion:
Spot is spot and as long as people desire silver there will be buyers for it, no matter what the price.
If there is a massive rise silver, it will start to make it into the MSM.
Once that happens average Joes who have never bought PM's before will flooding in...
It's not gold related, but I thought some people here might also find it interesting.
Wiki link to the page on the actual bank itself:
http://en.wikipedia.org/wiki/Burnley_Savings_and_Loans
I liked it and recommend watching it.
Yep, that's how the Hoffman's were able to pull out only 100oz's last year but this year can afford to run to 2 claims, and buy/lease a D10, a D9, a fleet of Volvo trucks, new Volvo excavators and build/buy 2 new washplants.
I was just about to post this show up.
Personally I found it to be a bit boring (though it's only the first episode, it may improve) I watched the first "ghost hunting" segment and then fast forwarded through all ghost hunting segments after that and only watched the parts with the actual...
After watching a couple more episodes it is clearly as scripted as hell.
Seriously who goes trudging off into the Amazon jungle without a GPS or at the very very least a map and compass.
And as silvertail said the boss is a complete wanker, all the other guys are are covered in mud and sweat...
The premise is virtually identical to Jungle Gold, except they go to South America (Guyana) instead of Africa (Ghana) and they seem (from the first episode atleast) to be better funded and slightly better organized.
Somehow I missed this show and only just came across it today, the first 5...