And I bet the general population of Uganda will be just as poor as ever while the 1% elite will be immensely wealthy
if there is so much gold deposit, then gold will not be a safe haven. Then gold will be classified as non-precious metal.
Nah, the point was regarding these figures (didn't watch video) https://www.reuters.com/article/uganda-gold-idUSKBN2NP17M Typical high quality deposits contain 10 g/t gold = 10 / 1 000 000 = 0.001% I.e. the person I discussed with considered the implied purity in the article entirely unrealistic, and is 1000 times above the figure Google claims to be a typical high purity (that's the 0.001% above). 0.001% of 31 million tonnes = 310 tonnes gold $54.74 million/tonne * 310 tonnes = roughly $17 billion Do note that 31 million seems different from 320 million in video. If it's indeed 320 million tonnes of ore then the value can be north of $170 billion.
And because I know @Overnight likes Youtube videos, here's some scenes from my favorite Ugandan movie:
Usually i try to share either something stupid or something interesting (imo). You choose which one it was. This is gold as well.
For anyone how has been trading mining stocks on the TSX. These adverts have a tendency to always either turn out totally fake, or have a little bit of truth to them, but turn out totally over-blown. In any case, they always achieve a rally in the stock tickers, and then implode later.
Silver is classified as a precious metal. And there is 10 times more silver than there is gold. Even if the amount of gold doubled overnight it would still be classed as a precious metal.
A great example for the world of the African penchant for "exaggeration". Reminds me of when a dude who washed cars near my office told me he used to be a navy SEAL. The guy wasn't psychotic and said it completely matter-of-fact, but nonetheless...