One of the comments to their nice charts was: "Only about 4.5 billion ounces of gold have been mined in all of history, This graphic indicates that 2 billion sits in mining company reserves. That makes no sense." I tend to agree....makes no sense.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
I guess if you add up every stinking inferred or guesstimated ounce of gold in ANY mining company's portfolio you might come up with a few extra billion ounces of gold.....gold that may never see the light of day in any of our lifetimes or in our grand children's lifetimes. With only 2800 tonnes coming to the surface each year (90 MILL oz.). It will take a long time to efficiently bring up those 3 BILL ounces of gold. A huge number of those smaller deposits are uneconomical to mine...at least with today's technologies and pricing. The numbers seem reasonable to me.
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One of the comments to their nice charts was: "Only about 4.5 billion ounces of gold have been mined in all of history, This graphic indicates that 2 billion sits in mining company reserves. That makes no sense." I tend to agree....makes no sense.
lifetimes or in our grand children's lifetimes. With only 2800 tonnes coming to the surface each year (90 MILL oz.). It will take a long time to efficiently bring up those 3 BILL ounces of gold. A huge number of those smaller
deposits are uneconomical to mine...at least with today's technologies and pricing. The numbers seem reasonable to me.