Hello All, Does anyone here have a good understanding of the technical side of gold mining? Someone that can look at a map of a gold mine, and figure out where the highest-grade ore is most likely to be. A buddy of mine bought a gold mine. He has one opinion, and I have another. I'm in search of a third-party opinion. Please pm me if so. Thanks, Keith
Actually, the U.S. I know someone that is in similar circumstances as Kmik's friend. Apparently Trump has changed some environmental laws that enable people to go in and do something that they previously weren't allowed to do. Something to do with the water and using heavy equipment. Its complicated but I've seen the maps and everything. Its not a scam... its true.
I grew up in Alaska and had a lot of experience with "gold mines" and the ever just around the corner mother load they're going to find. The problem is if you take a gold pan to almost any river in Alaska or YT you're going to find gold. We used to take first time visitors out all the time to a random stream and they'd pull out a few flakes within 15 minutes. A few of those people catch the gold bug, and buy some decrepit equipment that essentially allows them to pull more flakes out with less effort. None of them are geologists, none of them are professionals, and none of them really know jack shit about what they're doing when it comes to finding gold in the ground, although most of them are pretty damn good at fixing a broken down old D8 cat since that's what they spend most of their time doing. Changing the law to allow people to randomly dig up big chunks of earth in places where they previously couldn't doesn't really change their probability of finding a profitable amount of gold in any meaningful way. Hiring a real geologist, with real experience finding gold for real profitable gold companies is the only way you can do that. There's a reason that successful prosecutors go on the set up their own highly successful law practices, successful investment bankers go on to set up their own highly successful hedge funds, but successful geologists at Rio Tinto don't go on to buy a "gold mine" in the Yukon that they turn into a successful enterprise and successful automobile engineers at Ford don't go on to start highly successful car companies. The reason is that there simply isn't enough there there in any of those mines, and successful mining is an at-scale, professional activity. So if you can convince you friend to hire a professional geologist and spend the money to do the on the ground work a professional would do to determine how much and where the gold is, you'll have your answer. If not, you'll be forever arguing over beers, which isn't necessarily a bad thing in and of itself.
Bravo! Damn did you hit the nail on the head with this post. Where can I find a professional geologist?
How much capital do you have to develop the mine? These kinds of enterprises usually need a f*ck ton of money to get off the ground and then some. Bravo to you guys and your adventurous spirit!