Nelson Mail reports:
Gold at Sams Creek in Golden Bay is now estimated at more than one million ounces, and worth about $2 billion – and that is just a start.
An announcement to the Australian Stock Exchange from the company exploring the area, MOD Resources, has revealed the gold resource at Sams Creek has been increased by 33 per cent to 1.024 million ounces.
With the price of gold in New Zealand dollars about $2000 an ounce, that is worth around $2b.
Significantly the company noted that gold was all contained within an 800-metre strike length of the main zone prospect, which represented less than 15 per cent of the known 6km strike length of the Sams Creek dyke.
That means there is potential for the gold resource to increase markedly.
She said Forest and Bird did not want the company there but it would woo local people with jobs which were hard to come by in Golden Bay.
Evil jobs. How dare they “woo” people with jobs.
“Hopefully the price of gold will come down so it will not be economic for them to mine
Praying for poverty I call this.
The Greens have said they are not against all mining, just all coal mining. Will there ever be an actual mine though the Greens do not oppose? Is their view that of Forest & Bird on this mine?Tags: Forest & Bird, mining