Geowizard

Ophir Placer Gold Mine - An Example

209 posts in this topic

Having gone through the process of bringing a placer gold mine into production and profitability, I thought it would be good to share some of the experience with others that might be interested in doing the same thing. :)

 

- Geowizard

Ronald C likes this

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It's a good read GEO,

 

What happened in 2013?  Hold on a minute.

 

What happened in 2011 and 2012?  Your miner and investor moved to richer ground?  HU? Tell the whole story.

 

Your buyer was underwhelmed?  Lack of gold?  HU?

 

This is a human interest story with your gold seeking adventures as a great backdrop.  Well done!

 

There's gonna be a golden moral to this tale.

Geowizard likes this

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Thank you,

 

 "The human element had to be removed from the equation. Even my own attitude which from a personal perspective included a full recognition of the probability of failure tormented me with every step I took."

 

Stayin' alive, keepin' the dream on course, weedin' out the faint hearted. 

 

You are the mine and the mine lives through you.

Geowizard likes this

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Chuck,

   I was hoping I'd hear what your summer was like.  Really enjoying your posts.  In some respects your experience parallels the development of my prospect.  Big difference is that you are methodical and calculating and I just "hog" it.  I think I'll take your advice and set up a rock lab, though.  Maybe we'll both come out of our mining exploits with a nice retirement.  Now please continue with your story :)

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Hard honest work is offtime rewarded, but only to the stubborn who refuse to throw in the towel. REAL mining is expensive and much prospecting prior to production truly seems to be the key to any of my successes. The human factor is a real toughie. Case in point is dredging the Rucky Chuckies as every time we hit a huge paystreak the help disappeared over the hill into Reno casinos and brothels just as in days of old. They usually showed up 3-4 days later hungover,scratchn' their netherlands or in jail and of coarse FIRED as a reward. Same as the days of old when bars,brothels and equipment sellers made the real fortunes... Never regretted a second in 50+ years of serious prospecting and mining and truly enjoy others stories. thanx mucho-John

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"Ophir has about 70 million cubic yards of dragline tailing which contain 0.01 to 0.025 troy ounces of gold per cubic yard. This material can be ran at a profit when done on a large scale. One Bobcat can run 20 loads per hour at 1/2 cubic yard per load = 10 cubic yards per hour. In a ten hour day, a conservative estimate of gold recovered is about one ounce. The direct cost of fuel based on 10 gallons of unleaded for the water pump and 10 gallons of diesel for the Bobcat is $200. Indirect costs for facilities, power plant fuel, 4-wheeler fuel, and down time for cleanup all affect the bottom line."

 

Yes indeed!

 

Are you in need of $2 million worth of petrol?  Watch out. 

 

Alternative energy seems better.  What's the potential?

 

You identify, design and sell the excess electricity. 

 

The Ophir can really benefit.

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Yeah you're right,  solar powering a viable mine that far north,  has almost NO potential.  I'm certain hydro is not possible either.

 

What are the down to earth alternatives?  Geo thermal or natural gas?

 

Your proven skills with interpreting geophysical data and connecting the dots are exemplary.  You're on to something.

 

Is energy self-sufficiency in your mine's future?

 

Trading your gold for petrol might become a frustrating cause of financial failure.  Whereas, paying your gold, in dividends, to shareholders of your privately owned utility district could help other miners to become wealthy along with yourself.  While you develop your gold discovery, spend the proceeds to establish the Ophir entire community.  People will join you. 

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