• Short Summary

    Soaring gold prices on the world market could mean a new gold boom for the State of Colorado, where mines shut down during and after World War Two are being reopened and put up for sale.

  • Description

    Soaring gold prices on the world market could mean a new gold boom for the State of Colorado, where mines shut down during and after World War Two are being reopened and put up for sale.

    The gold mines were originally closed down because of lack of demand for the precious metal and the high cost of mining the gold. However current priced of more than USGBP100 (GBP40) an ounce would make the mines profitable again.

    One such property is the Blackjack Mine, in Boulder Country, Colorado, which is being offered for sale at US$300,000,000 (GBP123,000). It is estimated from recent assay reports that up to USGBP20,000,000 (GBP8,000,000) worth of precious metals may be yielded from the mins.

    At one time, the Blackjack mine was yielding up to 4 ounces of gold per ton of ore mined. It is estimated that, today, it would cost USGBP50 (520) per ounce to mine the gold -- leaving a profit of more than USGBP60 (GBP25) an ounce.

    Similar interest is being shown in the gold fields of California, about 40 miles (65 km) east of Sacramento, where self-employed miners are auying up stocks of equipment prior to a determined summer prospecting season.

  • Tags

  • Data

    Film ID:
    VLVAALLND0BRBZ4U7B42KMC48IQ8W
    Media URN:
    VLVAALLND0BRBZ4U7B42KMC48IQ8W
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    17/05/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:59:00
    Time in/Out:
    /
    Canister:
    N/A

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