wren Posted October 26, 2008 Report Share Posted October 26, 2008 Did anyone see that program Friday evening about gold deposits in Northern Ireland? It featured info about N Irelands first commercial gold mine - first of many it would seem. Northern Ireland has potentially the highest gold concentrated mineable reserves (still in the ground) than anywhere else in the world. Great boon for the British economy. Could eventually overtake South Africa as primary source. If this is really the case, how come there hasn't been mining there before? If I understand right, concentration is one of the major determining factors in the viability of production (and depth or accessiblilty would be another.) There has been one small gold mine in Finland for years. Just this autumn 2 more are opening, I presume because the price increases over the last several years make them viable. Link to comment Share on other sites More sharing options...
wren Posted October 26, 2008 Report Share Posted October 26, 2008 Average total production costs in Q4 2007 = $518/oz." See also the graph at the bottom of page 8 - http://www.gfms.co.uk/Market%20Commentary/...resentation.pdf Great, thanks for that. On other forums some have claimed that production is only $300 per oz. which I thought was at the lower end of the cost spectrum. That pdf looks great as a reliable source. Link to comment Share on other sites More sharing options...
gwizzie Posted October 26, 2008 Report Share Posted October 26, 2008 Did anyone see that program Friday evening about gold deposits in Northern Ireland? It featured info about N Irelands first commercial gold mine - first of many it would seem. Northern Ireland has potentially the highest gold concentrated mineable reserves (still in the ground) than anywhere else in the world. Great boon for the British economy. Could eventually overtake South Africa as primary source. hey....that sort of attitude got yous into trouble in the first place I you are referring to the mine in Omagh its owned by Galantas There is planning issues with that mine and some unrest with the local populus. If you are referring to the mine in Clontibret, that is owned by Conroy's...well thats in the Republic of Ireland old chap....and they managed to kick y'all out about 80 odd years ago There is a surprising amount of resources and opportunities over here...... i may start a thread, i know there are a few other nornironders here Link to comment Share on other sites More sharing options...
ologhai Posted October 27, 2008 Report Share Posted October 27, 2008 Not sure, but I think gold is quite dense I think I'll pass on that coin. Unless someone want to buy me one In trying to imagine how heavy gold is, I find it useful to start with something I know. Imagine filling a bucket to the brim with water. Imagine how heavy that would feel. Okay, it's not especially heavy, but it's still a pretty cumbersome and unwieldy thing to lug around. Gold is over 19 times heavier than water. Imagine a container the size of a bucket that weighs nearly twenty times more than a bucket full of water... In terms of getting an inkling of how heavy gold is, that pretty much does it for me! Link to comment Share on other sites More sharing options...
Rikk03 Posted October 27, 2008 Report Share Posted October 27, 2008 I was talking specifically N Ireland, but the rest of Ireland probably has massive deposits as well, it was the North that was surveyed. You are probably right ....... planning permission will be very difficult to get - if they ever do manage to get it that is. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 27, 2008 Report Share Posted October 27, 2008 In trying to imagine how heavy gold is, I find it useful to start with something I know. Imagine filling a bucket to the brim with water. Imagine how heavy that would feel. Okay, it's not especially heavy, but it's still a pretty cumbersome and unwieldy thing to lug around. Gold is over 19 times heavier than water. Imagine a container the size of a bucket that weighs nearly twenty times more than a bucket full of water... In terms of getting an inkling of how heavy gold is, that pretty much does it for me! That is a great way to visualise it That's like a water bucket versus a water butt !!!! A cup of gold = a bucket of water ? Link to comment Share on other sites More sharing options...
kernull Posted October 27, 2008 Report Share Posted October 27, 2008 Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 28, 2008 Report Share Posted October 28, 2008 Over at FT: Marcus Grubb, Managing Director of Investment Research and Marketing at the World Gold Council, answers readers’ questions on the outlook for the market below. http://www.ft.com/cms/s/0/d171461c-a00d-11...0077b07658.html Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 28, 2008 Author Report Share Posted October 28, 2008 Silver now bouncing around as crazy as the Dow Jones. This almost worries me. Link to comment Share on other sites More sharing options...
kernull Posted October 28, 2008 Report Share Posted October 28, 2008 Link to comment Share on other sites More sharing options...
FWIW Posted October 28, 2008 Report Share Posted October 28, 2008 I have got a similar view to Ker from my pnf chart. If we break through 750, then we should go to 795 and if we are lucky then past that to 820. With all the uncertainty regarding US elections, etc, I think Gold will bounce around the 735 to 750 levels in the short term. Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 28, 2008 Report Share Posted October 28, 2008 The Trial of Gold - by David Galland: http://safehaven.com/article-11694.htm You'll like this. ..."Mr. Gold, you and your cohorts have been accused of misleading investors into thinking that you would help them preserve their wealth, when exactly the opposite has been true of late. How do you plead?" "Not guilty, Your Honor," Mr. Gold answered brightly, receiving a dour look in return... Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 29, 2008 Report Share Posted October 29, 2008 Good Morning Hong Kong Interesting to see the US$ rise against the Yen this morning, falter a bit, and gold start to rise at 8 or 9am Hong Kong time (not sure which). Damn, I think I might have been too optimistic on the US$ for today Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 29, 2008 Report Share Posted October 29, 2008 I think this one is worth repeat: Why Gold Might Soar Over the Next Four Weeks troy ounce gold By Patrick A. Heller, Market Update October 28, 2008 http://www.numismaster.com/ta/numis/Articl...;ArticleId=5514 from: http://www.greenenergyinvestors.com/index....ost&p=72389 Whether or not you acknowledge past efforts by the U.S. government with other governments, central banks and private trading partners to suppress the gold spot price, events coming to pass in the next four weeks could create overwhelming pressure causing much higher gold prices. Last Friday, the Taiwan government announced that it had completely liquidated its holdings of Fannie Mae, Freddie Mac and Ginnie Mae bonds. If a long-time ally of the United States is willing to admit that it is bailing out of dollar-denominated debt, will other nations continue to show restraint? Last Friday and Saturday, leaders from 43 Asian and European nations met in Beijing to discuss the global financial crisis. The United States was specifically excluded from this meeting. These events are just appetizers on what is coming up in the next few weeks: tick tick tick...... Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 29, 2008 Report Share Posted October 29, 2008 Watch this John Embry: Gold’s Game-Changing Moment Could be Fast Approaching Tuesday, October 28, 2008 http://envast.blogspot.com/2008/10/john-em...ing-moment.html In a recent Business News Network interview, Amanda Lang talks with John Embry, Chief Investment Strategist at Sprott Asset Management, about his position on precious metals (bullish) and base metals (bearish). While hesitating to make a definitive prediction in the midst of such widespread asset destruction, Embry nonetheless looks beyond the carnage to what he suggests could be the seminal event for gold—the possibility of default on physical delivery for the December futures contract. He also explains why gold has failed to rise to the occasion of the worst-case financial scenario in history. Below are some excerpts from the interview, edited for length and clarity. Amanda Long: People say gold really should be doing better than it is now and that actually becomes a justification for not buying it. It’s not doing what it should be doing in a crisis and, therefore, I don’t want to own it. John Embry: That is a wonderful analysis because that is exactly the mindset the guys who are driving the price down are trying to create. Gold doesn’t work so keep away from it. They’re able to control the price quite easily in the paper markets because the paper markets are so huge in comparison. “The guys” – the central banks and their bullion bank accomplices—have a lot of power and a lot of money, so they can overwhelm the other side. But what’s happening is that the physical supply is diminishing dramatically. It’s getting harder and harder to purchase gold and silver through traditional avenues. You can’t get it in coin shops to any extent. You can’t get it through your banks. The physical side is really constricted by supply. That, to me, is the reality. The paper stuff is just the illusion. John Embry on BNN 21/10/2008 http://www.youtube.com/watch?v=1e9y7ci80D0 Link to comment Share on other sites More sharing options...
Justin Thyme Posted October 29, 2008 Report Share Posted October 29, 2008 That bloke from the World Gold Council says that any shortage of coins and selected bars is down to the spike in demand catching the mints unawares. Apparently these producers don't just run off loads of coins/bars and have 'em lying around on the shelf waiting for punters. Doesn't explain the disparity between COMEX and physical prices, though Link to comment Share on other sites More sharing options...
Pixel8r Posted October 29, 2008 Report Share Posted October 29, 2008 That bloke from the World Gold Council says that any shortage of coins and selected bars is down to the spike in demand catching the mints unawares. Apparently these producers don't just run off loads of coins/bars and have 'em lying around on the shelf waiting for punters. Doesn't explain the disparity between COMEX and physical prices, though I am not sure that there is a "disparity between COMEX and physical prices". You can still buy physical from GoldMoney for spot + small commission. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 29, 2008 Report Share Posted October 29, 2008 That bloke from the World Gold Council says ..... Equivalent to listening to John Nadler The enemy Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 29, 2008 Report Share Posted October 29, 2008 I am not sure that there is a "disparity between COMEX and physical prices". You can still buy physical from GoldMoney for spot + small commission. Yes, GM, BV & the ETFs seem to be the only places you can get the real stuff with a normal premium and without delay. Presumably because they have access to the LBMA bars. Link to comment Share on other sites More sharing options...
gwizzie Posted October 29, 2008 Report Share Posted October 29, 2008 That bloke from the World Gold Council says that any shortage of coins and selected bars is down to the spike in demand catching the mints unawares. Apparently these producers don't just run off loads of coins/bars and have 'em lying around on the shelf waiting for punters. Doesn't explain the disparity between COMEX and physical prices, though Great point, the whole point of the futures market (as far as i understand) is to give producers a window where they can ramp up production to meet demand. What would happen if the same thing occured with wheat or corn? Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 29, 2008 Report Share Posted October 29, 2008 That bloke from the World Gold Council says that any shortage of coins and selected bars is down to the spike in demand catching the mints unawares. Apparently these producers don't just run off loads of coins/bars and have 'em lying around on the shelf waiting for punters. Doesn't explain the disparity between COMEX and physical prices, though You get pro-gold as well as anti-gold commentators dismissing shortage claims... I have read though (I will have likely posted the article(s) up here somewhere) that records show the US mint has, in the past, been able to churn out a far higher number of coins then it's doing right now - so maybe it is a supply problem (or they've been told not to?) rather then processing delays. I am not sure that there is a "disparity between COMEX and physical prices". You can still buy physical from GoldMoney for spot + small commission. True. Not easy to actually get this gold in your personal possession though (unless you can afford @400oz). More doable for silver though... Equivalent to listening to John Nadler The enemy Reckon? I thought he was pretty pro-gold on the whole. I was expecting it to be more anti... Link to comment Share on other sites More sharing options...
FWIW Posted October 29, 2008 Report Share Posted October 29, 2008 You get pro-gold as well as anti-gold commentators dismissing shortage claims... I have read though (I will have likely posted the article(s) up here somewhere) that records show the US mint has, in the past, been able to churn out a far higher number of coins then it's doing right now - so maybe it is a supply problem (or they've been told not to?) rather then processing delays. Maybe they are minting some other type of coins (Amero?!) to meet future demand for the new coins?.... Does anyone else find it odd that there are no buffalos or eagles around? Link to comment Share on other sites More sharing options...
Mr Pipples Posted October 29, 2008 Report Share Posted October 29, 2008 While we're on about coins - seen this? New policy on purchase and sale of silver 'Libertad' coins: http://www.321gold.com/editorials/price/price102808.html Link to comment Share on other sites More sharing options...
Justin Thyme Posted October 29, 2008 Report Share Posted October 29, 2008 Equivalent to listening to John Nadler The enemy I've read disparaging remarks about this guy before and, just by chance, the othe other day I read a two part interview with him on, I think, SeekingAlpha. I didn't think what he was saying was that reprehensible. Ok there were one or two bits that I disagreed with but, overall, he appeared to offer a perspective on gold which was a refreshing departure from those of the shotgun-toting, bunker-bound goldbugs I've gotten used to reading. I think we'll all get what we're hoping for in terms of rising gold prices but I'd be willing to bet my G&S stash that any of us who bought in at $650-750 a year or so ago expected gold to be a damn sight higher than it is now given the prevailing macro-economics. Nadler, purely on the content of the interview I read, just seems very conservative and understandably wary of blind faith in the inevitability of $2000 gold. Link to comment Share on other sites More sharing options...
aardvark Posted October 29, 2008 Report Share Posted October 29, 2008 I think we'll all get what we're hoping for in terms of rising gold prices but I'd be willing to bet my G&S stash that any of us who bought in at $650-750 a year or so ago expected gold to be a damn sight higher than it is now given the prevailing macro-economics. Nadler, purely on the content of the interview I read, just seems very conservative and understandably wary of blind faith in the inevitability of $2000 gold. well, i started buying at $640 ish and bought all the way up to $880 and yet on average i am still at least 20% up in pounds - so gold is doing exactly what i want it to do. Link to comment Share on other sites More sharing options...
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