I think that there is more fluff than truth in this reporting. Although Mongolia does have precious metal reserves, getting them out at a reasonable cost is another thing. Location is a huge problem. People there still live in Yurts and drive ponies (not Mustangs). Weather conditions are a completely different matter. Infrastructure does not exist yet. But here is a little bit of Mongolia found recently by a herdsman:
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
Wow... talk about hard rock mining.... looks like that is being done by hand....one could make a fortune selling some dirt panning set ups... Though I am not sure there is enough local money to warrant the effort. Cheers, RickO
Akin to the 1849 California rush. NOTHING mechanized. Only horses, ponies, carts, pans, rockers and trommels about 3' long! The ground in Mongolia, where the metals are found, is frozen all year around. The surface will warm enough for grass to grow but not trees as the ice is just under the surface. Like mining in the Yukon or Alaska but much worse. There are no roads, no communication (phones, internet, etc). My nephews daughter just got back from 2 years in Mongolia with the Peace corps. Oh, the stories she tells. She had her own Yurt and one morning when she arose the whole clan she was with had packed up and left. Just left her there on her own! She was supposed to teach them hygiene and English.......neither went very well. Said it was remotely beautiful, whatever that means!
bob
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
I love that picture @AUandAG . How many of us would be right in there with them if this happened in our neck of the woods? Considering the size of that nugget, I know I would give it a try
Actually that nugget was on the surface and just picked up by a herdsman and turned over to the Government as required by law.
Shame he got no part of it. What you see in that pic are high-graders (stealing from the Gov't). That is why you see no machinery as they need to flee when the "Feds" show up. China, which owns Mongolia, is ruthless when it comes to precious metals. But, being so remote they don't get snuck up on often, so they seem pretty safe to go about digging and such.
bob
PS: I agree with you. I'd be right there with them and make a lot of jewelry out of my gold!!
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
@hchcoin said: I love that picture @AUandAG . How many of us would be right in there with them if this happened in our neck of the woods? Considering the size of that nugget, I know I would give it a try
I’m in. I have on my bucket list to search for gemstones or precious metal
Yep, interesting PM deposit, not as remote as the asteroid belt, nor as difficult and expensive to process as seawater, but it sure ain't Nevada or Peru either. Have visited and toured both those latter places, hope to get to Mongolia some day... this news makes it slightly more likely for me, I'd like to see it before Industry starts to Change it (started to write "Ruin it" but i dislike that word)
I have panned gold in several states and in New Zealand.... a lot easier, but did not find any nuggets of the size shown in the picture.... wow... that would be treasure. Mongolia has not been on my list of places to see....though, if the opportunity arose, I would likely go ....Cheers, RickO
ShadyDave
Posts: 2,188 ✭✭✭✭✭
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More shiny!
Loves me some shiny!
That will cause a dip in the market..... Cheers, RickO
I think that there is more fluff than truth in this reporting. Although Mongolia does have precious metal reserves, getting them out at a reasonable cost is another thing. Location is a huge problem. People there still live in Yurts and drive ponies (not Mustangs). Weather conditions are a completely different matter. Infrastructure does not exist yet. But here is a little bit of Mongolia found recently by a herdsman:
bob
It should serve the growing Chinese war machine nicely.
Loves me some shiny!
Wow... talk about hard rock mining.... looks like that is being done by hand....one could make a fortune selling some dirt panning set ups...
Though I am not sure there is enough local money to warrant the effort. Cheers, RickO
Akin to the 1849 California rush. NOTHING mechanized. Only horses, ponies, carts, pans, rockers and trommels about 3' long! The ground in Mongolia, where the metals are found, is frozen all year around. The surface will warm enough for grass to grow but not trees as the ice is just under the surface. Like mining in the Yukon or Alaska but much worse. There are no roads, no communication (phones, internet, etc). My nephews daughter just got back from 2 years in Mongolia with the Peace corps. Oh, the stories she tells. She had her own Yurt and one morning when she arose the whole clan she was with had packed up and left. Just left her there on her own! She was supposed to teach them hygiene and English.......neither went very well. Said it was remotely beautiful, whatever that means!
bob
Maybe with this deposit, the chinese pandas wil be a full 1 ounce instead of the STUPID 30 grams!!!
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
Might happen in 50 years or so but not in your lifetime, my guess.
bob
I guess anything "mined by hand" can be considered "huge"
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Interesting !!!
I love that picture @AUandAG . How many of us would be right in there with them if this happened in our neck of the woods? Considering the size of that nugget, I know I would give it a try
Actually that nugget was on the surface and just picked up by a herdsman and turned over to the Government as required by law.
Shame he got no part of it. What you see in that pic are high-graders (stealing from the Gov't). That is why you see no machinery as they need to flee when the "Feds" show up. China, which owns Mongolia, is ruthless when it comes to precious metals. But, being so remote they don't get snuck up on often, so they seem pretty safe to go about digging and such.
bob
PS: I agree with you. I'd be right there with them and make a lot of jewelry out of my gold!!
@hchcoin said: I love that picture @AUandAG . How many of us would be right in there with them if this happened in our neck of the woods? Considering the size of that nugget, I know I would give it a try
I’m in. I have on my bucket list to search for gemstones or precious metal
Best place to buy !
Bronze Associate member
For a long time, I have had a yearning to go to Mongolia. "remotely beautiful" is part of it.
Me too....but because I view it as beautifully remote.
Knowledge is the enemy of fear
Yep, interesting PM deposit, not as remote as the asteroid belt, nor as difficult and expensive to process as seawater, but it sure ain't Nevada or Peru either. Have visited and toured both those latter places, hope to get to Mongolia some day... this news makes it slightly more likely for me, I'd like to see it before Industry starts to Change it (started to write "Ruin it" but i dislike that word)
Liberty: Parent of Science & Industry
I have panned gold in several states and in New Zealand.... a lot easier, but did not find any nuggets of the size shown in the picture.... wow... that would be treasure. Mongolia has not been on my list of places to see....though, if the opportunity arose, I would likely go ....Cheers, RickO
I think @Baley will be doing a 20,000 post giveaway of a 1oz gold eagle.
Please include my entry here.
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