Jump to content
Sign in to follow this  
Reno Chris

World May Run Out Of Minable Gold In 20 Years

Recommended Posts

In a lot of ways, we small prospectors are the only ones still searching for the precious yellow. Exploration for gold is way, way down in the last several years. It will take sustained prices in the $2000 per ounce range to revive it.  I suspect that $2000 an ounce gold is a long way off at this point. New discoveries are very few and becoming rarer.

 

http://www.marketwatch.com/story/in-20-years-the-world-may-run-out-of-minable-gold-2015-03-30

Share this post


Link to post
Share on other sites

Interesting.  Maybe the small-scale operators will become more important in the future?  I doubt my elbows will last another 20 years of digging for gold.  

 

From the chart in the article above, it would suggest that mineable zinc is running lower than gold.  That's a big surprise to me.

 

I go to the San Juan mts of Co. almost every Summer to camp and kick rocks.  There is so much sphalerite just lying around you would think there is millions of tons of zinc ore that was not processed because it didn't have value at the time when gold and silver were sought after. 

 

The world's population isn't shrinking and will need more metals unless we collectively want to return to a lower standard of living.

In my view, the lower metal prices we have seen in the last couple years have bottomed and will be base-building and heading higher.

Share this post


Link to post
Share on other sites

Price of the product (like gold) does affect the mineability of the ore. Right now there is not enough demand to bring the price of gold up to a point where many mining companies are able to raise funds and go exploring on a large scale.

Share this post


Link to post
Share on other sites

I think It's more that they see lower prices in the future, $1,200 is a good price for an ounce of gold. If they

can't make a profit at $1,200 corruption and incompetence is the reason. They think the future will likely have

lower prices and are afraid to overly commit right now.

 

I think there will be much  lower prices and most will go out of business. We are in an economic preimplosion stage,

you ain't seen nothing yet.

Share this post


Link to post
Share on other sites

Interesting topic, it's also interesting following the price of platinum to gold per ounce.  Gold has been worth more that platinum only 10% of the time historically.  Platinum is an industrial metal, signaling a weak economy when it's price is below gold.  Mineable gold?  Of course it will run out, not in twenty years.  If you research mining companies that trade publically you will find that there is more exploration happening that it seems.  South America is a hot spot right now.  There is several companies down there exploring new deposits.  Nevada also has more than one public company exploring deposits.  Ghana has seen a lot of activity as well.  Our economy is not on the rise we would like to think it is.  The banks are already signaling trouble ahead once again.  With the Fed's interest rate as it has been for so long huge companies have been taking out bonds to buy their own stock to make prices rally; as they did all last year.  Now the rate increase is coming soon so companies has stopped taking new bonds, and stopped buying their own stock.  Hence why the market has suddenly gone sideways these last couple quarters.  As soon as this "bubble" takes it's negative down turn, ALL metal prices and commodities will take a huge jump.  Then all of the sudden gold will be big news again.  So anyways the exploration hasn't stopped, investors are just in an economic cycle that is not favorable to the whole commodities market in general.  I honestly think gold will see record highs once again within the 3-5 year range.  Minable gold running out in 20 years?  That is a foolish idea;  there is many new projects underway.  We all know it takes 10 years or so to get a hardrock operation into production.  By the time our gold has run out here on earth (lets not forget scrap gold)  the asteroid miners will have figured out a way.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×