If you are a regular here at The Daily Coin, you know we discuss precious metals mining on a regular basis. Silver mining, as far as we know, is the only thing keeping the silver market afloat. There are no vast hoards of silver stockpiled by governments or industry. Once again, as far as we know, this is the situation with silver. Silver, also, is used in industry and thus it is vanishing, at ever increasing speeds, never to return.
Gold, on the other hand, is different. According to gold analyst, approximately 95% of all the gold that has ever been mined is still available. Central banks around, the world, collectively, have thousands of tons of gold stored in vaults. Individuals collect gold coins and most all of us are familiar with gold jewelry. I like gold and silver in all forms. These two metals are called precious metals because of their rarity in our world. I have also heard it stated that all the gold in the world, if combined, would only fill 3.27 olympic size swimming pools. Not very much gold for over seven billion people.
The global demand for both gold and silver has been at record high levels for the past several years. During this same time, we have seen the price of both metals steadily fall!! How can that be? We will discuss that at another time. With the prices of these metals falling, one of the consequences is the direct impact on mining operations for these metals. If the cost of mining an ounce of gold is HIGHER than what you are able to sell it for, this is a losing scenario. This has been the case for at least the last two years. These losses are now beginning to take their toll on the supply side for both gold and silver. How do we change this situation?
One way is to lower the cost of mining. Currently, the remaining mining operations are doing all they can to cut cost as much as possible. One of the first areas to be hit is also one of the most important segments to future growth: exploration and discovery. With mining, if there is not a constant source of new material, everything eventual stops. If there are no more mines to produce gold and silver, where will these precious metals come from? They won’t.
Wade Hodges, Nevada Exploration, has developed a new piece of technology that will help current and future mining operations to continue to explore and discover new sources for gold. It is a process that, not only is more environmentally friendly, but also has far less cost than exploration of the past. This new technology could change mining and make more gold available in more parts of the world than ever before. Gold is still money, regardless of what the banksters or any government tells you. Gold has been money for approximately 4,000+ YEARS. Just because a couple of governments in the last 100 years have abused their privileges regarding the use of gold, that does not change over four millenniums of history. Just ask China how important gold is to the world. Just ask an Indian or an Iranian about the importance of gold. You will get a much broader picture and better understanding of how gold is necessary to commerce, to the amassing of wealth, and to the livelihoods of people all around the world.
Let’s listen to Wade Hodges and allow him to describe how this new technology works and it’s importance to the gold community.
Article reposted with permission from The Daily Coin, the opinions and views shared do not necessarily reflect the views of Freedom Outpost.
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