At this point, it should be mentioned that at the start of the CT's formation and the EIS, the price of gold was at $680 a troy ounce. As the long CT and EIS process dragged out, the price of gold dropped to $320 a troy ounce by the proposed sale date of July 1991.
With gold at times nearing $1,000 troy ounce, the industry must surely be re-evaluating the potential for profit.
The companies recently reported that drilling had outlined a geological reserve exceeding 2.8 million tons, containing 0.425 troy ounces
of gold per ton, a total of about 1.2 million troy ounces
African Consolidated Resources PLC (African Consolidated) (LSE: AFCR), an Africa-based mineral exploration company, has announced that its Blue Rock project in Zimbabwe has around 270,000 troy ounces
Anglo Platinum Limited (Anglo Platinum) (AMS.JO), the world's largest producer of the metal, is aiming to target an output of 2.4 million troy ounces
The company has set a target of 500,000 troy ounces
The low case scenario anticipates the company's production at 685,000 troy ounces
in 2010, 793,000 ounces in 2011 and 855,000 ounces in 2012.
The company has achieved production records for eight minerals, nickel, bauxite, alumina, copper, coal, cobalt, platinum group metals and precious metals, while eight products registered all-time high volumes of shipments, iron ore (264.0 million metric tons), nickel (276,000 metric tons), copper (320,000 metric tons), alumina (4.2 million metric tons), cobalt (3,087 metric tons), precious metals (2.4 million troy ounces
), platinum group metals (411,000 troy ounces
) and coal (4.1 million metric tons).
San Luis Joint Venture has reported a 31% increase in measured and indicated gold resources at the San Luis Project, with measured resources of 61,000 troy ounces
of gold, indicated resources of 287,000 troy ounces
of gold and inferred resources of 3,600 troy ounces
The mineral resource estimate in the indicated category for the Wilton Zone at the Sao Jorge Project is estimated at 343,000 troy ounces
of gold, using a 0.5 g/t Au cut-off.
They contend that when the NH Constitution was ratified in 1783, the Spanish dollar, containing one troy ounce
of silver, was the only dollar in circulation, and in 1792 the U.S Mint began issuing identical coins.