Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

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Iwant2beu
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Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby Iwant2beu » Sun Sep 09, 2018

http://www.abc.net.au/news/2018-09-10/rich-gold-seam-half-a-kilometre-deep-in-kambalda/10219576


Some highlights...

The largest specimen weighs in at 90 kilograms and took three men to lift it onto the back of a ute. The quartz rock is covered in an estimated 2,300 ounces of gold worth about $3.8 million at today's gold price. Another 60kg specimen is estimated to contain 1,600 ounces, or about $2.6 million in gold.


The mine's Canadian owners, RNC Minerals, are planning an auction for the large specimens. RNC president Mark Selby said collectors in north America and around the world are known to pay up to a 50 per cent premium on the gold metal value for rare specimens.

"Given the rarity of the rock, and the physical beauty and presentation of the gold that's there, it's a very spectacular stone in multiple ways so we'll see whether 20, 30 or even 50 per cent premiums apply here," he said.

"We're really looking forward to auctioning the key stones off over the coming weeks.

"There's a pretty select group of collectors who this would appeal to.


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smackvay
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby smackvay » Sun Sep 09, 2018

I’m in!!!
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MasterBlaster
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby MasterBlaster » Sun Sep 09, 2018

Buy the mine or gold? I'll come out of retardment if it's the mine 8-)
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Silvervein
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby Silvervein » Mon Sep 10, 2018

Nice chunks of rock.
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jareksdad
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby jareksdad » Mon Sep 10, 2018

Is that how gold is found? Covering quartz?
I always thought it was chunks/solid pieces.
D

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skylersfriend
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby skylersfriend » Mon Sep 10, 2018

there might be something to the story the stocked almost doubled at opening but it is still more than half off its 52 week high.

http://www.rncminerals.com/stock-quote

Here is the company's press release on its Australian find

http://www.rncminerals.com/2018-09-09-N ... -Hunt-Mine
Don't think of me as a cynic; I am an optimist with experience!
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“To think things out properly and fairly, a fellow's got to be calm and old and toothless: When you're an old gaffer with no teeth, it's easy to say: 'Damn it, boys, you mustn't bite!' But, when you've got all thirty-two teeth...” Nikos Kazantzakis..ZORBA THE GREEK

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skylersfriend
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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby skylersfriend » Tue Sep 11, 2018

RNC is up 60% today... :o

skylersfriend wrote:there might be something to the story the stocked almost doubled at opening but it is still more than half off its 52 week high.

http://www.rncminerals.com/stock-quote

Here is the company's press release on its Australian find

http://www.rncminerals.com/2018-09-09-N ... -Hunt-Mine
Don't think of me as a cynic; I am an optimist with experience!
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“To think things out properly and fairly, a fellow's got to be calm and old and toothless: When you're an old gaffer with no teeth, it's easy to say: 'Damn it, boys, you mustn't bite!' But, when you've got all thirty-two teeth...” Nikos Kazantzakis..ZORBA THE GREEK

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Re: Gold 'mother lode' unearthed underground in Kambalda delivers $15 million in just four days

Postby everything » Sun Sep 16, 2018

Yes, gold can be found in veins similiar to how quartz is formed, usually from molten magma. Since gold is heavy it's tendency is to sink to the core of the earth so gold is most always found near fault lines, mountain upheavals, ring of fire, etc. But of course, gold is all over the place it's just not so easy to gather up.

jareksdad wrote:Is that how gold is found? Covering quartz?
I always thought it was chunks/solid pieces.
D


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