Submitted by WashingtonPass t3_10x5usc in Washington
Comments
non-member t1_j7qhoef wrote
Thatās about 50 tons of gold at todays prices.
[deleted] t1_j7qkdw5 wrote
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yaba3800 t1_j7ql3vh wrote
~80% of gold is used in electronics
Deprecitus t1_j7qlek9 wrote
Gold is a very good conductor.
rosesandpiglets t1_j7qnw2u wrote
Thatās a dubiously sourced stat fyi, gold.com is not a reliable source.
The US Geologic Survey, a non biased 3rd party not trying to sell you something, puts the number closer to 10%
āEstimated global gold consumption was jewelry, 47%; physical bar, 21%; central banks and other institutions, 14%; official coins and medals and imitation coins, 10%; electrical and electronics, 7%; and other, 1%.ā
https://pubs.usgs.gov/periodicals/mcs2022/mcs2022.pdf pages 72-73
Splixalpha t1_j7qny6f wrote
While gold is a good conductor, silver and copper are both better conductors and considerably more abundant. The main reason we use gold is because it doesn't corrode or oxidize.
Deprecitus t1_j7qo7ew wrote
MGC00992 t1_j7qt5gm wrote
Boomtown!
harrydreadloin t1_j7qtkdl wrote
That's why Kinross has been setting up for the past couple years.
giant2179 t1_j7qvmtf wrote
Based on that breakdown, it appears that approximately 80% of consumer used gold is in electronics, i.e. way more than is used for jewelry etc... Just my guess for what that stat really means
mr_jim_lahey t1_j7qvvtc wrote
Yay, just what our state needs, a bunch of undeserved wealth falling into the laps of the state's worst political actors along with a heaping serving of environmental destruction. Hope we tax the absolute shit out of every cent they pull out of the ground.
^(edit: lol at u/highdad_soup for firing off 2 childish comments on this thread - including calling me a child - and then immediately blocking me to avoid a clapback)
rosesandpiglets t1_j7qwys9 wrote
Thatās not what that means.
jthanson t1_j7qyaw3 wrote
That's wonderful news for the people of Ferry County. They will have access to good-paying blue-collar jobs.
giant2179 t1_j7r09zg wrote
[deleted] t1_j7r0bup wrote
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angrydanger t1_j7r0pvu wrote
I've watched enough Gold Rush to know expectations are always higher than what actually gets mined. Estimating $3b? Week 1 clean up at about tree fiddy.
noodlebucket t1_j7r1qr5 wrote
Consolation: a similar discovery was made in the Methow and that effort was successfully blocked. With so much tourism there, the people of the valley did not support the mine, and rallied to stop it from happening.
LiveNet2723 t1_j7r2y0f wrote
Press release by Calibre Mining.
The grams per tonne ratios indicate this a lower-quality deposit.
mr_jim_lahey t1_j7r3gke wrote
You sound ignorant
BucksBrew t1_j7r3zp8 wrote
Is Culp still the sheriff up there or is he out of a job? Put him to work.
[deleted] t1_j7r465t wrote
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[deleted] t1_j7r4afo wrote
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L00mis t1_j7r67nq wrote
grabs a pan
gets in the car
Weellllllll I am heading Eastā¦. Not like my current situation is panning out in Seattle anyway.
Romanmir t1_j7r9hwr wrote
WE'RE RICH!!
ROCK AND STONE!
FrontButtPunt t1_j7rdl0i wrote
Not if Tony shows up with his dredge.
Pinesintherain t1_j7rdvj3 wrote
How does price effect weight?
rectanguloid666 t1_j7retgn wrote
Economic conditions and weight affect price, not the other way around.
Pinesintherain t1_j7rjh15 wrote
Snooder365 t1_j7rkofo wrote
Genuinely no idea how they manage to read that so incorrectly... Just to truly reiterate it: "Estimated global gold consumption was jewelry, 47%; physical bar, 21%; central banks and other institutions, 14%; official coins and medals and imitation coins, 10%; electrical and electronics, 7%; and other, 1%"
How much clearer can that get?
rosesandpiglets t1_j7rl8nt wrote
Yeah I really donāt know. Like it literally just lists the percentagesā¦ not a lot to misconstrue
rosesandpiglets t1_j7rn8wx wrote
Nah Republic gave him the boot. He then cried he wasnāt given a plaque.
angrydanger t1_j7rps8l wrote
That $&@$ is a big #^%% IF, $&@%^%#er
grizzgrowz t1_j7rwjqr wrote
And heāll bring it A. S. P.
Head-Ad-996 t1_j7s0num wrote
This will be a shitshow. There isnāt a police chief that I know of and Ferry Co is already spread thin with the local crazies.
Shaggy_One t1_j7s3h5s wrote
I think that was the joke.
No_Concentrate9935 t1_j7sb1uz wrote
Crabbiest_Coyote t1_j7shi31 wrote
Culp was the police chief. Maycumber is the sheriff and never liked Culp.
[deleted] t1_j7siqq5 wrote
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mademanseattle t1_j7sj98k wrote
We pay the sheriff to handle our business for a fraction of the price of culp, a k9 and 2 officers. About 80% in fact.
Obvious_copout t1_j7sm51m wrote
A potential Rick Ness comeback?!
[deleted] t1_j7smunx wrote
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jthanson t1_j7snp80 wrote
I know. Anything less than insulting the poor, backward, ignorant ruralites in this sub warrants punishment.
I will repent and go out to Enumclaw and insult some hard-working blue collar people as penance.
Yllom6 t1_j7stma6 wrote
Iāve seen this same article 10 times from different sources. Word for word, the same. Seems like a very well hyped press release to me. Where are they in the SEPA process? Given the area, it seems insurmountable.
Xavierwold t1_j7suqnt wrote
You're not wrong. Just kind of mean. I agree with you, though.
LandInternational966 t1_j7t0tg1 wrote
GLoomis? Shimano is killing the brand. Weird tangent, just saw you user name and assumed.
noodlebucket t1_j7t6xsr wrote
If you think natural resource extraction "helps blue collar people" you're misled, or disingenuous.
Edit: also the tribes are gonna nope hard on this one. As they should. Or do those people not matter.
UncommonSense12345 t1_j7t80bg wrote
Ya as someone from a ābackwaterā county the amount of vitriol towards the people of poorer counties is always very discouraging. Internet people from the city are very āprogressivelyā about their own group/beliefs but so much so of othersā¦ smh same can be said for the poor ābackwaterā people where Iām from too. Seems the divide is only growing bigger and little effort to bridge the gapā¦.
jthanson t1_j7t8ni0 wrote
And then the urban sophisticates wonder why they are reviled by us poor, knuckle-dragging slobs out here in the rural areas. It's like the Russian Revolution when the urban Socialists didn't understand why the peasants didn't like them.
Oh, waitāI'm in a rural area. I'm supposed to be one of those poor, uneducated rubes incapable of putting together a coherent sentence. I'd probably better not burst their illusion by referencing Bolsheviks canvassing the countryside looking for support from landless peasants.
BarnabyWoods t1_j7ux0hj wrote
Probably not. These aren't sustainable jobs, because mining economies are always boom-bust. The highest-paying jobs will go to people the company brings in from elsewhere. The people of Ferry County will be serving them in restaurants and cleaning their motel rooms. But on the bright side, the people of Ferry County might eventually cash in when the time comes to clean up the mess that gold mines always leave behind. Of course, that depends on whether there's any money left to fund the clean-up.
L00mis t1_j7uz4zd wrote
Na nothing to do with them. 10 years ago it just came to me and stuckā¦
Sadspacekitty t1_j7vxn7c wrote
Maybe if the state developed it, it'd be ok but any mining company will just suck up the money and leave asap.
Montu_Walks t1_j83syh8 wrote
I thought he was the ONLY policeman in town.
Crabbiest_Coyote t1_j84sseo wrote
At one point, yes.
MingMah t1_j7qhdzk wrote
š„