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Major declines in gold mining deposit discoveries

bluesky99

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#1
https://www.sovereignman.com/interna...uy-gold-24421/
Simon Black January 14, 2019

Large mining companies have been cutting their exploration budgets for years. By the end of 2016, exploration budgets hit an 11-year low.

That means, when the demand for gold picks up again (which I think we’re starting to see now), there won’t be enough gold supply.


Pierre Lassonde, the billionaire founder of gold royalty giant Franco-Nevada and former head of Newmont Mining –
If you look back to the 70s, 80s and 90s, in every one of those decades, the industry found at least one 50+ million-ounce gold deposit, at least ten 30+ million ounce deposits, and countless 5 to 10 million ounce deposits.

But if you look at the last 15 years, we found no 50-million-ounce deposit, no 30 million ounce deposit and only very few 15 million ounce deposits.


One of the legends we quoted was Ian Telfer, chairman of Goldcorp, who told the Financial Post:
If I could give one sentence about the gold mining business … it’s that in my life, gold produced from mines has gone up pretty steadily for 40 years. Well, either this year it starts to go down, or next year it starts to go down, or it’s already going down… We’re right at peak gold here.”


And all of this should be quite favorable for gold prices over the long-term.

And with today’s news, we’ve now seen several of the largest gold miners in the world spending a combined $16 billion to increase their gold reserves. They’re admitting there’s a big shortage of the metal. And this trend is just getting started.
 

Strawboss

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#2
Its so wierd to see a new thread related to gold...

Perhaps we should change the name to "Geriatrics Infirmary _(couldnt come with anything pithy for the "M")____"
 

ZZZZZ

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#3
Its so wierd to see a new thread related to gold...

Perhaps we should change the name to "Geriatrics Infirmary _(couldnt come with anything pithy for the "M")____"
Maniacs?

Masters?

To quote that new Muslim congress"person": Motherfuckers?
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<SLV>

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#5
I did originally post this in a geriatrics forum, not sure how it got here. Something strange must be happening on the interweb lately.
Get one of your grandkids to help you with this new-fangled technology.
 

Ragnarok

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#7
There’s only so much minable gold, eventually we’ll have gotten all we can get. But would that mean a higher if not stable price?

R.
 

ZZZZZ

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#8
There are probably a billion ounces of discovered gold in the ground around the world just waiting to be mined,

It's all a question of price, and politics.

For example the Pebble project in Alaska has about 125 million ounces of "proven and probable" gold just waiting for endless environmental studies and permits. https://en.wikipedia.org/wiki/Pebble_Mine

There are at least a hundred other smaller and less controversial gold deposits elsewhere in the world, ready to be mined.
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