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	<title>Gold Blog &#187; Gold Mining</title>
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		<title>Great Basin a Golden Opportunity</title>
		<link>http://www.thegoldeconomy.com/2010/06/great-basin-a-golden-opportunity/</link>
		<comments>http://www.thegoldeconomy.com/2010/06/great-basin-a-golden-opportunity/#comments</comments>
		<pubDate>Mon, 28 Jun 2010 07:38:36 +0000</pubDate>
		<dc:creator>GoldBug</dc:creator>
				<category><![CDATA[Gold Mining]]></category>
		<category><![CDATA[gold price]]></category>
		<category><![CDATA[Price Of Gold]]></category>

		<guid isPermaLink="false">http://www.thegoldeconomy.com/2010/06/great-basin-a-golden-opportunity/</guid>
		<description><![CDATA[

Introduction
The author first took notice of Great Basin Gold (GBG) close to a decade ago, when an associate mentioned the stock about a new mine starting up in the Witwatersrand Basin of South Africa.  Well, this same company’s prime mine is now scheduled to begin milling ore next month in July of 2010; as [...]]]></description>
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<p><strong>Introduction</strong></p>
<p>The author first took notice of Great Basin Gold (<a target="_blank" href="http://seekingalpha.com/symbol/gbg" title="Great Basin Gold Ltd.">GBG</a>) close to a decade ago, when an associate mentioned the stock about a new mine starting up in the Witwatersrand Basin of South Africa.  Well, this same company’s prime mine is now scheduled to begin milling ore next month in July of 2010; as they say about the plans of mice and men that often go awry, “leave us naught but grief and pain for promised joy.”  We the believers in GBG have had to endure a lot. </p>
<p>The author first penned an <a target="_blank" href="http://seekingalpha.com/article/172161-great-basin-gold-jump-to-mid-tier-gold-producer">article</a> about this stock in November of 2009, believing major upside was imminent.  The stock did some quick movement up until December 2009 and then settled back with the price of Gold easing off.  Now in June 2010, the price of Gold has just made some moves to new peaks this spring and GBG is now positioned to have <a target="_blank" href="http://seekingalpha.com/article/191120-great-basin-gold-production-poised-for-profit">two operational mines</a> come on stream.  Is there a Great (Basin) Gold (startup) occasion opportunity just around the corner?</p>
<p><strong>Gold Price at Peak</strong></p>
<p>The Gold price has just been on a tear recently, and has hit highs in all major currencies including the laggard Canadian Dollar.  See the chart below “1 Year Spot Gold US Dollar vs. Major Currencies” for the latest year’s price performance of Gold.</p>
<p><em>click to enlarge</em></p>
<p><a target="_blank" href="http://static.seekingalpha.com/uploads/2010/6/27/503905-127768247743661-Marco-G-_origin.jpg" rel="lightbox"><img src="http://static.seekingalpha.com/uploads/2010/6/27/503905-127768247743661-Marco-G-.jpg" vspace="6" /></a></p>
<p>Figure 1:  Price of Gold in Six Major Currencies.  Note that highs for all currencies have recently been achieved.</p>
<p><strong>Shares Slump</strong></p>
<p>Great Basin shares were priced above $3 prior to the economic upheaval in Fall of 2008.  GBG shares collapsed to lows of $.75 in October of 2008.  In 2009 GBG was recovering nicely to $1.90 in a V shaped formation when in March of 2009, investors were hit by a huge 45% dilutive financing of 115 million shares.  Since then the stock price has been slowly meandering its way upwards, never mind that there were two major gold mines coming on stream in 2010.  The idea of this company becoming a mid-tier gold producer just did not excite the markets any more.  The stock just drifts sideways with brief flurries of ups and downs.  In January of 2010, there was political news from South Africa about the youth wing of the ANC declaring an intention to nationalize the South African mines.  Though the radical views were <a target="_blank" href="http://mineweb.com/mineweb/view/mineweb/en/page72068?oid=97110&amp;sn=Detail" rel="nofollow">disowned by Mineral Resources Minister Susan Shabangu</a> and <a target="_blank" href="http://www.mg.co.za/article/2010-02-16-nationalisation-is-not-govt-policy-says-zuma" rel="nofollow">South African President Jacob Zuma</a>; these views are very unsettling for the financial markets.  So GBG share price just drifted sideways again until recently in June 2010. </p>
<p>See the GBG Stock Chart following for the last 3 years&#8217; performance.</p>
<p><a target="_blank" href="http://static.seekingalpha.com/uploads/2010/6/27/503905-127768263491461-Marco-G-_origin.jpg" rel="lightbox"><img src="http://static.seekingalpha.com/uploads/2010/6/27/503905-127768263491461-Marco-G-.jpg" vspace="6" /></a></p>
<p>Figure 2:  GBG Stock Price 2008 &#8211; 2010.  Note the slump since November 2008</p>
<p><strong>Startup Story</strong></p>
<p>Great Basin Gold is a startup gold miner with two mines in a start up sequence.  Their Hollister mine in Nevada has been performing trial mining for two years already while permits are being authorized.  GBG should finish soon <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1519" rel="nofollow">refurbishing a mill at their Esmeralda operation</a>, also in Nevada, with the intention of using this mill for their Hollister production. </p>
<p>Great Basin’s nameplate mine is Burnstone in South Africa.  This mine is slated to begin operations in July 2010.  The financing and project deliveries are coming together to bring this mine operational.</p>
<p>See this previous <a target="_blank" href="http://seekingalpha.com/article/191120-great-basin-gold-production-poised-for-profit">February 2010 article</a> about Great Basin bringing two mines into production in 2010. </p>
<p><strong>Financing Funded</strong></p>
<p>Great Basin on April 6th 2010 announced the creation of a $47 million credit facility and on <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1547" rel="nofollow">May 21st, 2010 announced the execution</a> of this same credit backing.  Although the mines were fully funded for startup, this credit facility makes the financial supports more flexible for the Burnstone mine startup operations.</p>
<p><strong>Project Punctual</strong></p>
<p>Great Basin has published a couple of recent news releases updating the markets about their delivery of the Burnstone Mine.  On May 13th 2010, Great Basin reported the <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1541" rel="nofollow">completion of a ventilation shaft and mill deliveries</a>.  On June 2, 2010, Great Basin gave an <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1556" rel="nofollow">update report of Burnstone project progress.</a> </p>
<p><strong>Profit Planned</strong></p>
<p>At the beginning of this year Great Basin gave guidance to the financial markets of <a target="_blank" href="http://www.miningmx.com/special_reports/conf_cover/2010/mining-indaba-2010/GBG-targets-200000oz-eyes-exploration.htm" rel="nofollow">195,000 oz. of Gold in 2010</a>.  GBG reported a loss of $.02 per share for the <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1535" rel="nofollow">first quarter of 2010 on May 10, 2010</a>.  This author listened to the webcast after the first quarter report and heard about the <a target="_blank" href="http://www.miningmx.com/special_reports/conf_coverhttp:/www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1519" rel="nofollow">monetization of the Hollister ore stockpile</a> by selling the ore to the Midas mine of Newmont (<a target="_blank" href="http://seekingalpha.com/symbol/nem" title="Newmont Mining Corp.">NEM</a>).  GBG expects to realize about $26 Million USD in proceeds with this transaction.  GBG <a target="_blank" href="http://www.greatbasingold.com/index.html?lf=1;pcat=2010;pg=25;ai=1583" rel="nofollow">reported settlement of a dispute with Queenstake Resources</a> (YNG), which clears the way for ore sales to Newmont on June 21, 2010. </p>
<p><strong>Significance of Substance</strong></p>
<p>So in summary, the company is gearing up for production in Hollister, Nevada and in their Burnstone mine in South Africa.  For Hollister, they will monetize their existing ore stockpile and their Esmeralda mill is up to speed in handling all the ore excavated.  The Esmeralda mill is capable of producing 10,000 oz. of Gold equivalents per month.  For Burnstone, all the project pieces are slowly coming into place and the July start up of the mill appears to be achievable.  GBG is running the Burnstone mill at only 50% capacity to iron out the bugs.  The Burnstone mill is capable of producing over 20,000 oz. of Gold per month.</p>
<p>If Great Basin comes close to their target of mining 200,000 oz. of Gold this year, the company will turn into profitability.  Actual reported financial profits will bolster the stock price significantly, as dollars talk better than promises and uncertainties to the financial markets.  Also the timing in the price of Gold moving higher is quite fortuitous.  It certainly has been a long time coming for long time investors. </p>
<p><strong>Disclosure</strong>: The author is long Great Basin Gold </p>
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<p>The original article is published at http://www.c2ads.net/full-text-rss/makefulltextfeed.php?url=http://seekingalpha.com/sector/gold-precious.xml&amp;format=rss&amp;submit=Create+Feed</p>
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		<title>What You Need to Know about Gold Mining</title>
		<link>http://www.thegoldeconomy.com/2010/06/what-you-need-to-know-about-gold-mining/</link>
		<comments>http://www.thegoldeconomy.com/2010/06/what-you-need-to-know-about-gold-mining/#comments</comments>
		<pubDate>Sat, 26 Jun 2010 21:12:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Gold Mining]]></category>
		<category><![CDATA[gold mining companies]]></category>
		<category><![CDATA[gold mining equipment]]></category>
		<category><![CDATA[gold mining supplies]]></category>
		<category><![CDATA[gold mining tools]]></category>
		<category><![CDATA[investing in gold mining stocks]]></category>
		<category><![CDATA[mining gold from water]]></category>

		<guid isPermaLink="false">http://www.thegoldeconomy.com/?p=898</guid>
		<description><![CDATA[The process of gold mining dates back to the Roman Period and since then, there have been many methods by which it is done. Each technique follows a very intricate process and different mining companies around the world settle for the method that they believe will be most beneficial to their business. Here are some [...]]]></description>
			<content:encoded><![CDATA[<div class="KonaBody"><p>The process of gold mining dates back to the Roman Period and since then, there have been many methods by which it is done. Each technique follows a very intricate process and different mining companies around the world settle for the method that they believe will be most beneficial to their business. Here are some of those methods:<br />
a.	Placer Mining<br />
•	Gold Panning – this is the method of manually sorting gold out using a shallow pan. This is effective because gold tends to settle beneath everything else.<br />
•	Metal Detecting – this is done, of course, with the help of a metal detector; and you basically need to walk around and have the detector scan all surfaces for traces of metal that could be gold.<br />
•	Sluicing – makes use of a man-made sluice box<br />
•	Dredging – Dredges are basically small machines that float on water and are operated by two people<br />
b.	Hard Rock Mining – If gold is not found in loose sediment, and instead is embedded in a rock, then you collect gold by hard rock mining.<br />
c.	By-product Gold Mining – This is the process of producing gold only as a by-product and not really the main product being collected just like in copper mines.<br />
Mining is not an easy job. Apart from it having to follow a truly rigorous process, mining is also very dangerous. In fact through the years, the world has seen many diseases and injuries connected to this ancient occupation.<br />
a.	Physical Hazards – mining has given way to a number of traumatic injuries, some even fatal. These could be caused by the following: rock fall, fires, explosions, equipment accidents, falls from heights and electrocution.<br />
b.	Chemical Hazards – exposure to hydrogen cyanide gas can be truly hazardous. It can be deadly in increased levels. More so, the release of arsenic and other poisonous chemicals that tend to go along with cyanide poisoning is very dangerous.<br />
c.	Biological Hazards – miners can acquire many tropical diseases such as malaria, dengue fever, loptospirosis and ankylstomiasis.<br />
d.	Ergonomic Hazards – fatigue<br />
e.	Psychosocial Hazards – drug and alcohol abuse is common to miners<br />
Being aware of these hazards can prevent accidents from happening. Gold mining stocks are an excellent way to earn lots of money- it could give anyone unlimited wealth. But you need to always ensure everyone’s safety to avoid any problems from taking place.<br />
When you decide to invest in gold mining stocks, make sure you do your due diligence on the record of the company.  You not only need to look at the expected returns but also at the management and safety record of the company.  One big accident could see your stock values plummet so you need to make sure that the company has an excellent track record.</p>
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		<title>Gold Mining</title>
		<link>http://www.thegoldeconomy.com/2010/01/gold-mining/</link>
		<comments>http://www.thegoldeconomy.com/2010/01/gold-mining/#comments</comments>
		<pubDate>Mon, 25 Jan 2010 15:20:39 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Gold Mining]]></category>
		<category><![CDATA[gold mining equipment]]></category>
		<category><![CDATA[gold mining supplies]]></category>
		<category><![CDATA[gold mining tools]]></category>
		<category><![CDATA[mining gold from water]]></category>

		<guid isPermaLink="false">http://www.thegoldeconomy.com/?p=387</guid>
		<description><![CDATA[The main type of gold extraction today is hard rock mining using either open pit methods or sub-surface mines. Mining gold from water was a method that was widely used during the California gold rush but is not commercially viable today and is used mainly by artisan gold miners. 
Gold Mining: Panning 
The original method [...]]]></description>
			<content:encoded><![CDATA[<div class="KonaBody"><p>The main type of gold extraction today is hard rock mining using either open pit methods or sub-surface mines. Mining gold from water was a method that was widely used during the California gold rush but is not commercially viable today and is used mainly by artisan gold miners. </p>
<p>Gold Mining: Panning </p>
<p>The original method of mining gold from water was known as panning and is a manual technique to sort gold from gravel and sediments present in a stream. The pan is filled with material from the stream bed and then submerged underwater and shaken. As gold is much denser it falls to the bottom of the pan. </p>
<p>Gold panning is probably the easiest technique to find gold but again it is not commercially viable for large scale production. It is sometimes used as a method to identify placer deposits of gold which can later be evaluated for their commercial value. </p>
<p>Gold Mining: Sluicing </p>
<p>Another method that is still used to day of mining gold from water is sluicing. The technique uses a sluice box, a channel with riffles set in the bottom, where the material is placed at the top and water carries it to the bottom with the gold dropping out of the water due to its density. </p>
<p>Larger scale mining operations also use screening plants to remove larger debris and boulders before the resulting material is moved to a sluice box. These types of operations involve much more gold mining equipment such as excavators, rock trucks, loaders and many more to remove the material from the stream or river and transport it to the different stations where the gold is separated out. </p>
<p>Dredging </p>
<p>Dredging is mainly used by small scale operations and usually suction dredges are used rather than the classic bucket and line method. The former is much more efficient and different size hoses can be used to target difficult to reach areas such as behind large boulders. Essentially a floating processing unit sucks up the material from the river bed in a temporary pond, processes it on board and expels the water and unwanted gravel or sediment back into the pond. </p>
<p>This is a very cost-efficient method of mining gold from water and also has a low environmental impact because no vegetation needs to be stripped and all the water is recycled. The operation is also seasonal as permits are issued only for periods that do not conflict with the spawning season of fish. </p>
<p>In terms of efficiency and commercial viability for large scale mining operations, hard rock mining is still the preferred gold extraction method. </p>
<p>If you have a desire to take up gold mining on a small scale then your best option would be to start with panning as the investment in gold mining supplies is minimal versus other methods of mining gold from water. Once you get a feel for gold mining you can graduate to more complicated methods if you have the necessary investment. Of course you could also consider starting a junior exploration company of your own with backers to become the next big gold producer.</p>
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		<title>Environmental Concerns of Gold Mining</title>
		<link>http://www.thegoldeconomy.com/2009/09/environmental-concerns-of-gold-mining/</link>
		<comments>http://www.thegoldeconomy.com/2009/09/environmental-concerns-of-gold-mining/#comments</comments>
		<pubDate>Wed, 30 Sep 2009 11:19:48 +0000</pubDate>
		<dc:creator>Jennifer Reginold</dc:creator>
				<category><![CDATA[Gold Mining]]></category>
		<category><![CDATA[Environment]]></category>
		<category><![CDATA[Global Warming]]></category>
		<category><![CDATA[gold]]></category>
		<category><![CDATA[gold price]]></category>
		<category><![CDATA[Green]]></category>
		<category><![CDATA[Hybrid]]></category>
		<category><![CDATA[Mining]]></category>

		<guid isPermaLink="false">http://www.thegoldeconomy.com/?p=163</guid>
		<description><![CDATA[Producing pure gold results in a very high environmental burden due to the physical mining and extraction processes used to extract the pure metal.  Whether gold is obtained from base ore which requires a mining operation (and tons of gold ore are required to produce one gram of pure gold) or by extracting gold metal from rivers and streams, the environmental impact is simply enormous.]]></description>
			<content:encoded><![CDATA[<div class="KonaBody"><div style='font-style:italic' class='byline'>by Jennifer Reginold</div>
<p>Producing pure gold results in a very high environmental burden due to the physical mining and extraction processes used to extract the pure metal.  Whether gold is obtained from base ore which requires a mining operation (and tons of gold ore are required to produce one gram of pure gold) or by extracting gold metal from rivers and streams, the environmental impact is simply enormous.</p>
<p>The total output of gold from mining and extraction activities is actually not required if we consider the amount of pure gold which already exists and is available in our homes.  Unused jewelry does very little in terms of producing an active investment return to the owners while at the same time, it represents a huge, untapped store of highly pure metal which does not require much to return it to a highly refined and usable state.</p>
<p>Green gold is recycled metal and because it does not need a great deal of handling and processing the environmental impact on producing pure, usable gold from existing sources is much less compared to gold which must be mined and extracted from ore. </p>
<p>Obtaining gold from ore requires large amounts of water, typically provided by rivers and dams, which in turn becomes very heavily polluted with by-products and the waste materials necessary to process the ore.  Zinc for instance is necessary in order to bind the gold from the ore; zinc is highly toxic in concentrated form and it is an accumulative poison in similar ways as lead is.  </p>
<p>To remove the zinc requires further poisonous and toxic processes, usually involving sulfuric acid to separate the zinc from the gold.  Sulfuric acid itself is the active component of &#8220;acid rain&#8221; and is highly corrosive as well as damaging to plants, animals and people.</p>
<p>Even more deadly is the sodium cyanide which is used in conjunction with the zinc to create a &#8220;sludge&#8221; which contains the pure metal.  In 2000, a dam burst in Romania and with the tens of thousands of tons of highly contaminated water, at least 100 tons of highly poisonous sodium cyanide were also released into the East European river system.  The environmental carnage which resulted is still being cleaned up today and tens of thousands of fish and animals have died as a direct consequence.</p>
<p>Using gold which is effectively stockpiled in our homes makes commercial and environmental sense.  In the current economic climate, gold is hitting all time high price levels because it is viewed by institutional investors as a safe haven for their clients.  The reduced costs associated with producing refined gold ingots from existing gold in the form of jewelry and gold-bearing components such as computers also allows for high prices to be offered to those considering selling their jewelry.</p>
<p>Green gold is not only environmentally friendly but commercially an astute selling decision.  High gold prices are fueling the prices gold recycling refiners can offer; however, once the economic climate recovers we can expect the price of pure gold to start dropping which in turn will lead to lower prices being offered to sellers.</p>
<div class='resource'>
<div style='font-style:italic' class='about'>About the Author:</div>
<div class='links'>The best online resource to <a target="_blank" href="http://www.refinity.com/buy/sell-gold">sell gold</a> or <a target="_blank" href="http://refinity.com/buy/sell-platinum-and-palladium">sell platinum</a> can be found at www.refinity.com</div>
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		<title>Mysterious Gleaming Gold</title>
		<link>http://www.thegoldeconomy.com/2009/09/mysterious-gleaming-gold/</link>
		<comments>http://www.thegoldeconomy.com/2009/09/mysterious-gleaming-gold/#comments</comments>
		<pubDate>Wed, 16 Sep 2009 15:28:35 +0000</pubDate>
		<dc:creator>admin</dc:creator>
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		<description><![CDATA[
Marlene Affeld asked: historic man first stumbled upon a nugget, raw gold with its radiant sun yellow coloration and metallic luster has captivated and fascinated mankind. The unique gleam of gold attracts the eye, enabling the seeker to detect the smallest of grains in an aggregate of many other materials. The tiniest flakes are easily [...]]]></description>
			<content:encoded><![CDATA[<div class="KonaBody"><div style="float:left; padding: 12px"><a target="_blank" href="/wp-content/uploads/2009/09/gold_mining13.jpg"><img src="/wp-content/uploads/2009/09/gold_mining13.jpg" title='' alt='' /></a></div>
<div><em><strong>Marlene Affeld</strong> asked: </em><br/><br/><br/>historic man first stumbled upon a nugget, raw gold with its radiant sun yellow coloration and metallic luster has captivated and fascinated mankind. The unique gleam of gold attracts the eye, enabling the seeker to detect the smallest of grains in an aggregate of many other materials. The tiniest flakes are easily detected.<br/><br/>Anthropological excavations of Stone Age burial sites indicate that gold was the first element collected and prized by man. This unique metal, gathered in the form of nuggets, seems to have been highly prized but was not used in practical applications. Rating 2.5 ? 3 on Mohs scale of hardness, gold was much too pliable to be hammered into workable tools or weapons. Gold carried little value for prehistoric man except to be admired and treasured for its rare, intrinsic beauty.<br/><br/>However, as man developed he soon discovered numerous applications for the mysterious golden metal. The earliest record of gold exploration dates to Egypt around 2000 B.C. Ancient records tell of an enormous alluvial gold deposit in Nubia, between the Nile River and the Red Sea in southeastern Egypt. This incredible discovery encompassed over one hundred square miles. Using the most primitive of tools and working to an average depth of less than six feet, these first ?miners? pried an estimated one thousand tons of gold from this rich discovery. Egyptian artisans, recognizing the extraordinary malleability of gold fashioned incredible jewelry, ornaments and idols of breathtaking beauty. Throughout the history of man?s involvement with gold, the precious metal has been prized not only for its beauty but for gold?s ability to withstand the rigors of time. No substance that appears commonly in nature will destroy gold. Unaffected by air, moisture, heat or cold, this noble metal will not tarnish, corrode, rust or tarnish. Shimmering gold dust, golden nuggets of placer gold and brilliant vein occurrences have survived 4.5 Billion years of cataclysmic geologic and climate changes; volcanic eruption, earthquakes, upheavals and deposition. Treasures of gold jewelry, bullion and coins, buried for thousands of years beneath land and sea have been found intact; as brilliant as the day they were abandoned.<br/><br/>A relatively rare native metallic element, gold ranks fifty-eighth in abundance amongst the ninety two natural elements that make up the earth?s crust. Although considered a rare element, of all metals gold is, with the exception of iron, the most widely distributed over the planet. Gold has been found on 90 per cent of the earth?s surface and is mined in high mountain ranges, in the deeply weathered soil of the tropics, harsh deserts and in the permanently frozen tundra of the Arctic.<br/><br/>Gold is commercially mined on every continent with the exception of Antarctica. The richest gold producing area of the world is the Witwatersrand District of South Africa. This ultra rich area has yielded eighteen thousand tons of gold with no end in sight. Additional notable gold bearing areas around the world are Siberia in the former USSR, the Porcupine District in Ontario, Canada and in the United States the Yukon District of Alaska and the famous Mother Lode District in California.<br/><br/>In the United States nature was extremely generous. Thirty-two states have recorded significant commercial gold production. The highest yielding areas are located within the western states, California, Colorado, Alaska, Nevada and South Dakota. Other abundant locations for prospecting include Georgia, Arkansas, Idaho, Utah, Montana, Washington, New Mexico, Wyoming, North and South Carolina, Tennessee, Michigan, Vermont and New Hampshire. The recreational gold prospector can find gold in his pan in practically every state of the union.<br/><br/>Gold is an ideal media for craftsmen. It is a metal that can be deformed by pounding without breaking or crumbling. Gold, in its pure form is the most malleable or workable of all metals. One single ounce of gold can be drawn and stretched into an ultra fine wire over 50 miles in length without breaking or pounded to the amazing thinness of one hundred thousandth of an inch without disintegrating. Gold is easily carved, readily buffs to a gleaming polish, can be heated repeatedly without discoloration and joins to itself or other metals by soldering without the need for a bonding flux.<br/><br/>For more than 6000 years gold has been considered symbolic of wealth, power and status. In 1350 B.C. the Egyptian boy king, Tutankhem, was interred in a coffin elaborately cast from 242 pounds of solid gold. Throughout history men and women have adorned their bodies with brilliant, gleaming gold. The ancient custom of exchanging gold during marriage ceremonies continues today. The nobility of Medieval Europe liberally sprinkled gold in the form of dust, flake or leaves on their food to demonstrate the host?s great wealth. Today gold is still often used in food and has the E Number 175. However, since metallic gold is inert to all body chemistry, it adds no taste nor has any other nutritional effect and leaves the body unaltered.<br/><br/>Primitive man believed gold contained a hidden, internal fire, a gift from the Gods with mysterious healing and magical powers. Numerous cultures of sun-worshippers revered gold as the tangible essence of their God; solid sunshine. In modern day Japan believers seek gold?s medicinal magic by immersion in a bathtub designed in the form of a phoenix crafted from 400 pounds of pure gold. Health and gold have long been entwined in the wondrous belief that something so rare and beautiful could not be anything but healing and healthy.<br/><br/>Today modern esotericists and forms of alternative medicine embrace the healing properties of gold. Some gold salts have anti-inflammatory properties and are used as pharmaceuticals in the treatment of arthritis and other similar conditions. However, only salts and radioisotopes of gold are of pharmacological value, as elemental or metallic gold is inert to all chemicals it encounters within the body.<br/><br/>Gold is a ?storehouse of value?, the natural way for man to preserve capital and protect against financial uncertainty or monetary collapse. In modern times gold has served as a hedge against the threat of inflation and as a secure and safe way to secret away assets. The ?hoarding? of gold occurs most frequently during times of war, adverse world conditions and international fears of economic instability. Gold has often defeated the attempts of governments to inflate the currency of their country as well as circumventing the aims of those holding political power to direct the economy of other nations.<br/><br/>Throughout recorded history, gold, the crowned king of metals, has been considered the ultimate monetary exchange. Gold is the only currency that isn?t someone else?s responsibility or liability; it is more that just a paper promise to pay upon demand. Gold?s worth does not rely on the economic stability of any country, political power or financial cartel. Gold has value in and of itself.<br/><br/>The current world price of gold is established daily by the London Gold Market which trades gold bullion and coins with other financial world centers such as Zurich, Hong Kong , Frankfurt and Paris. The price is based on pure or ?fine? gold, therefore the value of gold gleaned in its natural state may vary depending on the impurities it contains. However, raw gold sold as specimens or jewelry will always bring a considerably higher price. Gold nuggets are as distinctively different as snowflakes, although similar, no two nuggets are alike. A nugget of unique character and shape may sell for as much as five times its value by weight.<br/><br/>Do you have broken or discarded gold jewelry you not longer wear? Now may be the time to cash in on the current gold rush. With the price of gold exceeding the $1000 an ounce benchmark, an errant earring or broken gold chain could add up to a significant sum.<br/><br/>To receive the best price for gold you may wish to sell, know the karat count. Because of the softness of pure 24k gold, it is usually alloyed with base metals for use in jewelry, altering its hardness, color, melting point and ductility. Alloys with lower karatage, typically 22k, 18k, 14k or 10k, contain higher percentages of silver, copper or other base metals in the alloy. The higher the karat the more you should expect to be paid. If you only have a piece or two to sell, try a local jeweler or take a vintage piece to an antique jeweler. They?ll take the artist?s craftsmanship into consideration and you will net a much higher price than for just the gold weight.<br/><br/><br/><br/><a target="_blank" href='http://kansieo.com'>Kansieo.com</a></div>
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