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Taken of OMI board
https://gsiexchange.com/is-a-new-dollar-backed-by-gold-at-10000-per-ounce-coming-by-october-1st-2020/
Nuggets and flakes of Welsh gold have been sold at auction for £44,000.
The 10 lots of Clogau gold , mined under government lease between 1979 and 1981, were expected to fetch about £9,000.
But after going under the hammer at Rogers Jones Co in Colwyn Bay, the lots went for £44,000 to one buyer.
Auctioneer David Rogers-Jones had been told by experts that Welsh gold was "visibly discernible" from other types and the "Clogau factor" could increase the selling amount.
"It's absolutely unique as far as we're concerned, we've never had raw Welsh gold like this before," said Mr Rogers-Jones.
The smallest nugget weighed 3g (0.1oz) had a guide price of £600-£700 but went for £4,000.
The rarest gold in the world
Welsh Gold is now perhaps the rarest gold in the world, originating as gold mined in Wales and yet at the turn of the last century Wales was one of the worlds largest producers of gold.
The last Welsh Gold mine the Gwynfynydd closed in 1998 and it is unlikely that any mines will ever re-open, mainly due to the severe environmental restrictions inside the Snowdonia National Park.
All the Welsh Gold that remains is what is left of the original mined stocks and a small but environmentally clean amount that can be panned from the rivers around Dolgellau, notably the Wem and the Mawdach.
Welsh gold has traditionally been used as the gold for royal wedding rings, and also as the gold in some of the Crown Jewels. Cymru Gold have used some of their stocks to make the rings for several welsh Bishops and also part of the regalia for the Welsh Assembly. Sir Mark Weinberg when operating the the Gwynfynydd Mine, presented our present Queen with a kilo bar of pure Welsh Gold for use in future wedding rings. Cymru Gold is seemingly the only firm in the world to have enough Pure Welsh Gold to be able to supply 18ct Pure Welsh Gold Wedding Rings exactly the same as those used by the current Royal Family.
Welsh gold is often thought of as being rose gold, probably because of the copper often found alongside the gold in several of the mines, and a fact that we use in much of our Welsh gold jewellery design.
However gold is an element and when refined back to absolute pure 24ct gold Welsh gold is a bright golden yellow like every other gold in the world.
Image result for quartz rock containing gold
A giant rock containing a record 70kg of gold was dug up in Australia — and it's worth $3 million. A 95 kg quartz rock containing almost 70kg of gold — worth almost $3 million — has been dug up in Western Australia.11 Sep 2018
Maybe we can find a few of these on the way lol
When I bought shares in Oregon Gold about 13 years ago the website had a similar photo .
That also was of an old mine in Serbia sadly it never came to fruition.
The quartz rock formation can look like Gold.
My great Grandad bought back fools gold from Canada.
I use to take it into school they thought I was rich lol.
Probably was the stimulus for my late Fathers passion for Geology.
Sadly I was more interested in other subjects seemed boring to me as a youngster.
He would have helped now but sadly Alzheimer’s took hold ten years ago.
From what I can conclude they looking at two avenues the bulk trench processing and like mentioned before the targeting of hopefully rich veins that have higher concentration of Gold.
Remember the Gold achieves a premium several thousand pounds higher per ounce.
Jerimiah thanks for the reply we do need balance views sadly a lot of people do buy on the spikes me included but I tend to wait and research first now.
But if you think the higher premium is worth the price offered then why not.
The main thing is what target price you anticipate.
I’m here for a few years so can take a few swings.
If you see I’ve been around these boards for ten years and bought a few dogs but some gems like GGP and Boo.
I could have sold out of GGP when Newmount walked too a big hit.
But I believed in the future.
Sadly took a lot of profit at 2p and 10p but was buying at these prices there.
This is a different scale but with a low market cap 500,000 ounces of gold would be a massive find.
I can’t see that much at the moment but if they can provide a revenue stream then Greenland becomes a fantastic opportunity.
Read the latest update it’s correct I’m sure the error sits with the publisher.
The South Africans have a lot of expertise in mining and the related plant so sourcing plant from this country makes sense.
The results from the labs will be published once all have been reviewed.
I’m sure they would not have ordered the plant if they haven’t seen some exciting prospects.
Sorry the graphs didn’t load but with a potential world wide recession driven by the pandemic.
The yearly reduction in gold production I think the price will continue to rise.
This has driven the interest across the Globe surrounding mineral production.
At one time the cost to produce an ounce of gold was not much higher then the price.
Future mining
A 2012 report conducted by Snowdon Mining Consultants on behalf of the previous majority owners of the mine, Gold Mining Wales Ltd (GMW), suggested that as much as 500,000 ounces of gold could be lying untouched in the area surrounding the mine,[4] giving hope that gold may again be extracted from the Clogau Gold Mine. Alba Mineral Resources are now the majority owner of the mine and are currently drilling to access the commercial viability of reopening parts of the mine. Previous samples taken from a 200 metre long area returned gold grades of 30.2 to 263 grams per tonne,[5] suggesting that previously unrealised supplies of gold could potentially exist.
Jeremima
You’re post recently lol
RE: Some times we need to look back to look forward04 Oct 2020 03:18
IMO good grades plus media coverage will get us over 1p and perhaps a spike towards 2p? 1p+ ought to stick but the real rises at Clogau will be if and when we find more gold in the outlying areas and go on to get planning permission to mine there. Who knows how long that may take though? In the meantime a good drilling and scoping campaign next year in Greenland ought to boost the Mcap nicely. If everything lines up I can see 4-5p in a couple of years.
I don’t think we had professional Rampers here most of the news was extracted from the company website and media interest.
Only time will tell it seems strange people have sold prior to the drill results.
I bought more on the drop and I’m still blue.
Good luck on your investments
Long term $GOLD trend remains bullish One of the ways to analyze long term trends is to look at 36 month simple moving average. If the price is above that then trend is bullish, if it goes bellow it's time to sell. I've added two graphs: In the upper graph there is a $GLD monthly price (blue line) and 36 SMA (orange line). ?? since the last peak in gold price in 2011 the gold was in bearish trend for few years. Then for a few years there was no trend, i.e. price and SMA went sideways. ??The trend change in early 2019. Since then the gold has been on beautiful uptrend. As long as the price of gold remains above 36 month SMA the trend remains bullish and it's a good sign to bullish. The other graph depicts a bit more complicated picture. The graph shows the difference between the price of GLD and its 36 month SMA. This is a way to look at the gold momentum. As can be seen from the graph the gold was having flat momentum in period between 2013-2016. Since then the situation has been gradually improving with several breakouts. ?? The momentum has been picking up. One of the most important lines on the lower graph is the red line. If it's not broken then bullish trend remains intact. A place to start worry would be if the upper dotted support line would be broken. As long as the GLD and 36m SMA differential is above the mentioned trendlines the long term gold trend remains bullish! Please keep in mind that these are very long term graphs and in the short term gold price could easily move around by 10% or more and not have large enough impact on the long term trend. The recent price action on the long term graph looks like a decent "buy the dip" opportunity.
We are at the Generative stage before we enter the primary stage only then will we know how much and the cost involved in production.
Gold production costs haven’t risen with the record breaking Gold price.
Experts predicting 3000 per ounce welsh gold may well be over 10k an once.
Production costs very on the terrain labour costs and the depth of the discovery.
Maybe as low as 700 to 1200 pound an ounce.
So this mine can be extremely profitable
Only time will tell however there certainly a chance to multi bag from this minnow.
There is a ready built mine that hasn’t been exploited using modern technology.
The infrastructure is in place.
The extraction process is cheap and the gold fetches a premium on the markets.
The market cap is low relative to capital return on investment.
They are drilling in areas of safe legislation.
There are new seems that may yield hi grades to be explored.
Greenland is massively drowning in hydrocarbons and minerals yet to be explored.
I’m in GGP OMI and Thor my late father was a geologist with BP and said that we are still awash with minerals and hydrocarbons like in Horse Hill but lacked the political will to exploit.
Technology has moved on it was wild cat drills in the 60s during his time in Alaska.
Now there is Sona satellite images ultra sound to help with the discoveries.
I’ve never de ramped any other boards that I’ve not got a position in.
We all no aim is a minefield just research,look at the people in charge the finance the old companies they have been involved in.
Look at the geology of the region the history and make your own mind up.
I’ve been on these boards for ten years seen so many firms go bust been involved in a few but had some great success too.
Your still learning but A diverse portfolio is the way to go.
Look at emerging markets I’m 60 plus but I’m making good money on them Solar edge technology-and First solar doing well for me on the American market.
The world will need batteries and Alba have a opportunity to exploit masses of Graphite a key ingredient in this growing market.
That’s why I’m here.
And will be for the next few years as it unfolds.