I read that too. That's a lot of gold. And, the Chinese love gold.

Good for them. I hope some of that "trickles down" to the masses to help boost their economy so they can import more higher value products.

Bryce

I have researched this supposed discovery on every mining and geology information source that I am part of. Zero, zilch, absolutely no corroboration on this supposed gold discovery.

So China is telling the truth now???

Any legitimate reporting on a subject like this would have the average grade per ton of ore, how many tons of ore, depth, minerology, etc.. The only information provided is the total gold resource, and the depth. The two kilometers reported is extremely deep, the deposit would need to be very high grade to be economical to mine. Furthermore, 45 core drill holes is not even close to adequate in order to delineate a resource of this size.

Wrangler, Just curious, whats is the approximate cost to drill a 2k deep core hole? I suspect what your drilling through would greatly effect the cost. so just a ball park figure would be good enough for me

Thats alot of gold

One line from that article made me wonder..

If you increase the supply of any commodity but hold demand steady..........the price will likely go down. Yet the article claims this new YUGE find is pushing the price of gold up.
I too, find myself doubting the veracity of the claim

What incentive (for the Chinese) is there to lie about this find?

I believe the find is legit from news outlets that I have heard it and what I have read. A far as what the price will do, I have no Idea. The price will be what people will pay for it. People want gold and more of it so to me the demand is high.

What’s stopping the Chinese government from mining the gold and then adding it to their stash?

Without it ever being on the market

They could use fake gold to "back'" the new BRICS currency they are trying to create to take the place of the US dollar.

Keith

Yep, china is holding the cards we will see how they play them.

If it is actually legit,,,,

Doubtful it’s going to take 15-20 years for all the permits

Yep….

2Km would be about 6500 feet, multiply by about $35 a foot, that would be about $250,000 per hole not counting mobilization costs. Minimum.

I've read most of the "news outlets", they are all parroting the same story.

Trying to drive down the price to buy physical gold that is already mined and processed at a lower price.

Around here they exagerate their finds to catch investers.

Yep

And yep.

Do the Chinese need outside investors?

China is built on outside investment……

I will bet a dollar,,,,, soon,,,,k, you will see the flu dollar gold coin…….

Non nationals can invest in Chinese State owned enterprises, but I wouldn't do it.
https://insight.factset.com/investing-in-chinese-state-owned-enterprises