The Big Picture
in response to
by
posted on
Oct 31, 2008 08:05AM
Camino Rojo Mexico : In-situ - 4.0 million ounces gold; 68.32 million ounces of silver.
"The Big Picture"
A team of geologists can spend years searching the earth to find a gold or silver deposit. After a deposit is found, drill samples and feasibility studies must be done. Statistically, for every 1200 gold occurrences in rock, only 1 economic deposit will result. If the discovery is economically feasible, a team of engineers, technicians and geologist can spend up to 10 years permitting, designing and building a gold or silver mine.
From time of discovery to mine completion and pouring of first metal, up to one billion dollars or more can be spent building a mine. After the mine is built and functioning, tremendous amount of work goes into mining the gold and silver. In South African gold mines, up to 10 TONS of rock are blasted up to 2 miles underground, hauled to the surface, then go through a complex refining process to produce 1 troy ounce of gold!
Meanwhile, COMEX dealers sit in plush offices and buy and sell PAPER gold and silver contracts, most of which are backed by nothing!!! The purpose of these paper contracts are to cap any price rise in gold and silver, then drive it lower, destroying mining company market capitulations, company profits, and even shutting down mines because they are unprofitable at rigged COMEX prices! If this wasn't enough, COMEX officials have the balls to say longs are "corning the market" by taking physical delivery of metal, as COMEX law says they can!
Where is the outrage from mining companies? Why haven't lawsuits been filed against COMEX for their illegal actions? Because of severe gold and silver investment shortages, if COMEX dealers don't DRAMATICALLY raise spot gold and silver prices fast, longs will demand physical delivery, depleting all COMEX warehouse gold and silver!
Regards,
David Poitras"