Uganda says exploration results show it has 31 million tonnes of gold ore

[Mr.Know-It-All]

If true, it would make Uganda the third richest country in the world.

If true, how long before Biden and the party of war (Democrats) find a reason to invade, to give the people of Uganda "freedom"?

Uganda says exploration results show it has 31 million tonnes of gold ore

Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.

www.reuters.com

 

[Robert Mugabe]

As long as they don't fritter it away....

 

[AndrewX]

If true, it would make Uganda the third richest country in the world.

If true, how long before Biden and the party of war (Democrats) find a reason to invade, to give the people of Uganda "freedom"?

Uganda says exploration results show it has 31 million tonnes of gold ore

Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.

www.reuters.com

The Brits got in there years ago. I remember Idi Amin, he was called the butcher of Uganda.

 

[Robert Mugabe]

The Brits got in there years ago. I remember Idi Amin, he was called the butcher of Uganda.

But he got gold!

 

[wilddude]

If true, it would make Uganda the third richest country in the world.

That works out to about $9B USD worth of pure gold. It's a nice sum, but I wouldn't call that 3rd richest.

 

[JohnHenry]

That works out to about $9B USD worth of pure gold. It's a nice sum, but I wouldn't call that 3rd richest.

The article.says 320000 tonnes of fine gold.
320000x2200(lbs/tonne)×14(toz/lb)x1600($/oz)=25.7trillion

 

[TimberOne]

If it is true, soon enough "democracy" will find it's way there, it always has.

 

[wilddude]

The article.says 320000 tonnes of fine gold.
320000x2200(lbs/tonne)×14(toz/lb)x1600($/oz)=25.7trillion

The article refers to "gold ore" and "fine gold". Keep in mind "fine gold" is not "gold ore". Ore needs to be processed and refined to become fine gold. So yes it's only $9B. Which is sweet f*** all.

Average grade ore

5 - 8 gold grams per tonne

 

[wilddude]

If it is true, soon enough "democracy" will find it's way there, it always has.

Yes and the deal will be. "We'll provide the technology to extract the gold from the ore and you'll pay us a percentage of the fine gold produced". This is capitalism, it's fair. However, when the percentage is 98%, no...it's not fair and there in lies the problem.

 

[tml]

Everyone repeat after me....BRE-X.

 

[johnd5050]

If true, it would make Uganda the third richest country in the world.

If true, how long before Biden and the party of war (Democrats) find a reason to invade, to give the people of Uganda "freedom"?

Uganda says exploration results show it has 31 million tonnes of gold ore

Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.

www.reuters.com

Biden's itenary changed, now he is going from Saudi Arabia to Uganda, thanks to the gold news

 

[JohnHenry]

The article refers to "gold ore" and "fine gold". Keep in mind "fine gold" is not "gold ore". Ore needs to be processed and refined to become fine gold. So yes it's only $9B. Which is sweet f*** all.

Average grade ore

5 - 8 gold grams per tonne

The article states:

Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.

Which makes the ore about 1 percent gold. Do you think the ore is that rich, or the writer misunderstood?

 

[curr3n_c1000]

Sorry but Uganda is in bed with China. Doubt you'll see any American or Euro hands on this. Which is a good thing.

 

[Jenesis]

If true, it would make Uganda the third richest country in the world.

If true, how long before Biden and the party of war (Democrats) find a reason to invade, to give the people of Uganda "freedom"?

Uganda says exploration results show it has 31 million tonnes of gold ore

Uganda on Wednesday said recent exploration surveys have shown it has gold ore deposits of about 31 million tonnes and it wants to attract big investors to develop the sector hitherto dominated by small wildcat miners.

www.reuters.com

That was my question. How long before some war happens there?

 

[bazokajoe]

Everyone repeat after me....BRE-X.

Was thinking the same thing when I read the headline.

 

[wilddude]

The article states:


Which makes the ore about 1 percent gold. Do you think the ore is that rich, or the writer misunderstood?

A yield of 0.0001% is considered good so the writer stating "1%" is far from misunderstood it's completely impossible. Even Bre-x was not this overblown.