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Gold and What Moves it.
Tracking all things that relate to and affect the price of gold.
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Aussie man digs out 5.5 kg Gold nugget

According to reports, the nugget weighing 177 ounces, or 5.5 kilograms has been unearthed with a metal detector just outside Ballarat in a popular area for prospecting.

 

MELBOURNE(BullionStreet): An amateur prospector, who wants to remain anonymous,discovered a huge gold nugget with an estimated value of more than $300,000 in Australia's Victoria state.

 

According to reports, the nugget weighing 177 ounces, or 5.5 kilograms has been unearthed with a metal detector just outside Ballarat in a popular area for prospecting. ...

Hal's insight:

How cool would it be to dig up something like this!

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China buys another Gold asset in Australia

Major Gold companies such as Shandong Gold, Zijing Mining and Zhaojin Mining are already in the fray for overseas takeovers, analysts said.

 

PERTH(BullionStreet): As part of it's efforts to boost gold reserves, China acquired yet another gold asset in Australia.

 

China's Hanking Gold Mining said it had acquired St Barbara's Southern Cross mine in the WA goldfields for $22.5 million.

 

The acquisition follows the sale of several other WA mines to Chinese companies over the past six months.

Hal's insight:

And the Dragon continues to get all the gold it can.

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Western Australia's gold sector in jeopardy | MINING.com

Western Australia's gold sector in jeopardy | MINING.com | Gold and What Moves it. | Scoop.it
High exploration costs are to blame.

 

 

The Australian Association of Mining and Exploration Companies (AMEC) warned Monday  the future of Western Australia's gold sector is uncertain as high exploration costs hamstring miners.

 

ABC News reports that several of the state's operating gold mines have declining reserves and lower ore quality as they dig deeper.

Hal's insight:

So how do you think the gold spot will react to this?

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