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Gold - Africa - Duke Castile - 10-26-2012
This show just came on called Jungle Gold, these two guys go to Ghana, Africa to try and mine gold. They're completely out of their element and about the only thing they seem to possess is balls.
Looks like a free for all, but they actually did find some gold.
Does anyone know anything about this? Could there be an opportunity to make some money??
Gold - Africa - BIGINJAPAN - 10-26-2012
Quote: (10-26-2012 09:27 PM)Fisto Wrote:
This show just came on called Jungle Gold, these two guys go to Ghana, Africa to try and mine gold. They're completely out of their element and about the only thing they seem to possess is balls.
Looks like a free for all, but they actually did find some gold.
Does anyone know anything about this? Could there be an opportunity to make some money??
Yeah I know a little a bit about it. I financed one of those projects this year. It was even in Ghana.
So first thing is you have to get concessions from the government or the land owner. Now to do this you have to have connections. I believe each concession is between 20k-40k. So that just gives you the right to mine on the land. Although it really isn't mining. The gold is pretty much on the surface. If anyone knows anything about making gravel and aggregate it is very similar to that. Including using the exact same wash plant set up.
After you get the concessions, you then have to rent the equipment necessary to dig the gold up and then separate it from the other material.
You will need: excavator, loader, wash plant components, something to make concrete in as the the plant should be sitting on a stable base or it is likely to vibrate itself right into the ground. Ghana has all the equipment but they don't have enough. I have actually been exploring the idea of exporting the equipment from Canada to there. I can provide more on that later.
Once you dig up the gold and separate it you then take it into town and they heat it and up run it through acid to separate all other impurities. Now you have to keep an eye on them the whole time otherwise they will for sure skim some gold off of the nuggets when you aren't looking.
As for going over there and doing it yourself, I was going to go with the guy in December to see things for myself and work. I took engineering in school and I oversaw crushers and washplants as my job right out of school, so I have alot of background that would be useful. Small problem is Ghana is sick of all the foreigners in there taking all the gold themselves. There was 1000's of chinese there since 2000. So now basically if you aren't from Ghana you can't be caught working there. I still think you can go and oversee and finance projects but the work has to be done by the natives. Or in the case of the guy I financed he was Kenyan and blended right in. He also just got back 3 weeks ago and we are going to meet up to talk about how it went. My orignal plan was to loan money the first time and just take cash interest payments and then go in on the next one and split the gold. But with Ghana curbing foreign workers, it looks like I won't be doing that.
I really don't trust people in general and especially when it comes to mining something that can easily be stored in ones pockets. So if I can't be working side by side with them I don't want to partake anymore.
Gold - Africa - le prince perdu - 10-26-2012
Quote: (10-26-2012 10:28 PM)BIGINJAPAN Wrote:
Quote: (10-26-2012 09:27 PM)Fisto Wrote:
This show just came on called Jungle Gold, these two guys go to Ghana, Africa to try and mine gold. They're completely out of their element and about the only thing they seem to possess is balls.
Looks like a free for all, but they actually did find some gold.
Does anyone know anything about this? Could there be an opportunity to make some money??
Yeah I know a little a bit about it. I financed one of those projects this year. It was even in Ghana.
So first thing is you have to get concessions from the government or the land owner. Now to do this you have to have connections. I believe each concession is between 20k-40k. So that just gives you the right to mine on the land. Although it really isn't mining. The gold is pretty much on the surface. If anyone knows anything about making gravel and aggregate it is very similar to that. Including using the exact same wash plant set up.
After you get the concessions, you then have to rent the equipment necessary to dig the gold up and then separate it from the other material.
You will need: excavator, loader, wash plant components, something to make concrete in as the the plant should be sitting on a stable base or it is likely to vibrate itself right into the ground. Ghana has all the equipment but they don't have enough. I have actually been exploring the idea of exporting the equipment from Canada to there. I can provide more on that later.
Once you dig up the gold and separate it you then take it into town and they heat it and up run it through acid to separate all other impurities. Now you have to keep an eye on them the whole time otherwise they will for sure skim some gold off of the nuggets when you aren't looking.
As for going over there and doing it yourself, I was going to go with the guy in December to see things for myself and work. I took engineering in school and I oversaw crushers and washplants as my job right out of school, so I have alot of background that would be useful. Small problem is Ghana is sick of all the foreigners in there taking all the gold themselves. There was 1000's of chinese there since 2000. So now basically if you aren't from Ghana you can't be caught working there. I still think you can go and oversee and finance projects but the work has to be done by the natives. Or in the case of the guy I financed he was Kenyan and blended right in. He also just got back 3 weeks ago and we are going to meet up to talk about how it went. My orignal plan was to loan money the first time and just take cash interest payments and then go in on the next one and split the gold. But with Ghana curbing foreign workers, it looks like I won't be doing that.
I really don't trust people in general and especially when it comes to mining something that can easily be stored in ones pockets. So if I can't be working side by side with them I don't want to partake anymore.
I'm from a country in west africa even though I was born in morocco. I have a ton of connection via family and that is a business idea I have in my mind. Do you mind elaborating on the subject? books I can read or stuff I can do to have knowledge in the area?
Gold - Africa - CMan0928 - 10-26-2012
Quote: (10-26-2012 09:27 PM)Fisto Wrote:
This show just came on called Jungle Gold, these two guys go to Ghana, Africa to try and mine gold. They're completely out of their element and about the only thing they seem to possess is balls.
Looks like a free for all, but they actually did find some gold.
Does anyone know anything about this? Could there be an opportunity to make some money??
As I was reading this post I couldn't help but think of that Charles Schwab commercial where the guy talks about his retirement and his advisers suggesting he start a vineyard. Watch the video below and simply replace the word "vineyard" with "gold in Africa".
Gold - Africa - BIGINJAPAN - 10-26-2012
Anybody who puts their retirement in the hands of a 3rd party is pretty much fucked.
NEWS FLASH: The 25 year bull run in stocks and the 30 year bull run in bonds is over. Unless you take control of your own destiny you will never retire. Nobody gives a fuck about your money except you.
Gold - Africa - Duke Castile - 10-26-2012
Big in Japan,
There's another, smaller scale angle I was thinking about as I watched this show. What about buying the gold from the locals who've put some in their pockets? Obviously you're going to have to take measures to be safe but, it seems like this method of collecting gold through relatively small transactions could be more profitable than a full scale land concession and plant operation.
Thoughts?
Gold - Africa - BIGINJAPAN - 10-26-2012
Quote:Quote:
I'm from a country in west africa even though I was born in morocco. I have a ton of connection via family and that is a business idea I have in my mind. Do you mind elaborating on the subject? books I can read or stuff I can do to have knowledge in the area?
I learned everything I know about the subject from reviewing all the paperwork the borrowers provided for me. The concession agreements and the equipment rental contracts were all quite detailed. I also watched quite a few videos on youtube about the subject. Also one of the borrowers had done it in the past and we talked extensively about it
Gold - Africa - BIGINJAPAN - 10-26-2012
Quote: (10-26-2012 11:15 PM)Fisto Wrote:
Big in Japan,
There's another, smaller scale angle I was thinking about as I watched this show. What about buying the gold from the locals who've put some in their pockets? Obviously you're going to have to take measures to be safe but, it seems like this method of collecting gold through relatively small transactions could be more profitable than a full scale land concession and plant operation.
Thoughts?
These guys do that as well. You can pick it up for 20-30% off spot price. So if you got the cash and want to go over that is another angle to work. Nobody will stop you from doing it. Also it isn't just Ghana. There are plenty of other countries on the west coast that you can do this. But Ghana is by far the most well ran and civilized. So I would start there.
Gold - Africa - Aliblahba - 10-26-2012
The got the contacts for security.
Gold - Africa - Duke Castile - 10-26-2012
What do you mean by "spot" price? Can you elaborate on how you get the gold out?
Gold - Africa - BIGINJAPAN - 10-26-2012
Quote: (10-26-2012 11:32 PM)Fisto Wrote:
What do you mean by "spot" price? Can you elaborate on how you get the gold out?
The spot price is quoted by the london bullion market. http://www.kitco.com is the best for the tracking the price. So as of today the spot was $1712 for 1oz x .70 and you could pick up an ounce for $1204.
Now most likely you will be buying it in grams, so each piece will be way cheaper.
As for getting it out of the country, it is easy to store in your bags as it won't take up alot of room at all. Plus you can legally carry $10,000 worth anyways. Although I wouldn't trust the TSA. It is highly unlikey you would end up with a significant amount that needed to be couriered back. I would just stash it everywhere I could on me. It isn't magnetic, so it won't set off any alarms
Gold - Africa - Rah - 10-27-2012
Just watched it tonight. When I saw the ad for it the first thing I thought was "damn I bet guys on RVF would dig this shit".
I didn't see a good enough risk / reward (based on what I could see from a TV show) to make what those 2 dudes are doing worth it though when it came to flipping gold. $917 profit split two ways less expenses might be $400 for a day's work, but they didn't look prepared to deal with a wide range of bad scenarios and weren't investing in what I thought was an adequete level of security for what they were doing. They're running gold from town to town. Shouldn't they have at least 2 more armed security guys riding with them? Otherwise they're open season to any of those road blocks.
And are they armed at all? That wasn't clear. Seems crazy to not at least keep some guns in the truck.
Gold - Africa - Kona - 10-29-2012
Quote: (10-26-2012 11:15 PM)Fisto Wrote:
Big in Japan,
There's another, smaller scale angle I was thinking about as I watched this show. What about buying the gold from the locals who've put some in their pockets? Obviously you're going to have to take measures to be safe but, it seems like this method of collecting gold through relatively small transactions could be more profitable than a full scale land concession and plant operation.
Thoughts?
If you do that you are going to get raped and murdered.
I'm involved in a full scale land concession and plant operation like you said and so far it's been a gold mine, money wise. It's just a good idea to be as legit as possible because that business is dirtier than dealing heroin. I can answer many other questions if you'd like.
Aloha!
Gold - Africa - Bad Hussar - 10-29-2012
I know Ghana has a fairly good reputation, but I'm with the other people who have said a scheme like this will likley get you kiled. If not by the demands of the mining itself, then definitely by people whose interests you are impinging on.
If you really want to be ultra hard-core consider getting into the illegal gold mining business in South Africa. Most of the gold ever mined in world history has been mined there, but there are now many disused mines where it is not currently economically feasible for the owners to operate. If the gold price increases they might come into play, but for the present time they are boarded up. There is a pretty big "industry" of illegal miners breaking barriers and sneaking in at night, and then going down the shafts and living there for days/weeks at a time trying to extract small quantities of gold. These shafts might be as much as a mile straight down, and then another mile of horizontal shaft. In any event it must be insane going doen there illegally, with no back up. Every now and then you hear about X illegal miners presuned dead because of a rockfall in these mines. Scores die every year. A few months back there was a case where about 30 illegal miners were thought killed in a tunnel collapse, but they were just left there since it was too dangerous to try to reach them and recover their bodies.
Some info if you're interested:
http://www.miningweekly.com/topic/illega...activities
Gold - Africa - Don_Johnson - 10-29-2012
Quote: (10-26-2012 09:27 PM)Fisto Wrote:
This show just came on called Jungle Gold, these two guys go to Ghana, Africa to try and mine gold. They're completely out of their element and about the only thing they seem to possess is balls.
Looks like a free for all, but they actually did find some gold.
Does anyone know anything about this? Could there be an opportunity to make some money??
In general, there is a great deal of opportunity in Africa. But always remember risk and reward are directly related.
Sure, you can make bank. But you might end up dead. There is nowhere closer to hell than Africa.
Gold - Africa - Divorco - 10-29-2012
Quote: (10-29-2012 12:26 PM)Bad Hussar Wrote:
illegal gold mining ... where it is not currently economically feasible for the owners to operate.
You would need to mine many tons of low-grade ore, then process it with dangerous sodium cyanide acid to recover any gold where the owner doesn't even find it worthwhile to hire people.
Gold - Africa - BIGINJAPAN - 10-29-2012
Your guys' fear about Ghana are way overblown. It is very stable and civilized. There are not truck fulls of rebels driving around trying to steal your gold. The only problem right now is they are trying to protect there resources from foreigners. They aren't doing it by cutting your heads off, they just kick you out if you are caught working on the land.
And it isn't your typical big scale mining operation that goes a mile down. The gold is almost literally sticking out of the ground. Not a big worry of an industrial accident
Gold - Africa - Bad Hussar - 10-30-2012
Quote: (10-29-2012 01:08 PM)Divorco Wrote:
Quote: (10-29-2012 12:26 PM)Bad Hussar Wrote:
illegal gold mining ... where it is not currently economically feasible for the owners to operate.
You would need to mine many tons of low-grade ore, then process it with dangerous sodium cyanide acid to recover any gold where the owner doesn't even find it worthwhile to hire people.
I don't know much about the geology of gold mining, but I assure you that 1000's of people are going down these shafts near Joburg, and elsewhere, in search of gold. You are right that it takes a massive amount of earth being processed to yield even one ounce of gold, so I'm not sure exactly how it they do it, just that it is being done. The massive death toll bears this out.
I seem to remember that they stay underground for very long periods and try to refine the gold right there using wood fires and whatever chemicals needed. Would think that fires would suck out the already limited oxygen, but this is what happens. It's not like the miners are making millions. They are otherwise unemployed and desperate, so even a relatively small income would be worth it to them.
Gold - Africa - Bad Hussar - 10-30-2012
Quote: (10-29-2012 05:35 PM)BIGINJAPAN Wrote:
Your guys' fear about Ghana are way overblown. It is very stable and civilized. There are not truck fulls of rebels driving around trying to steal your gold. The only problem right now is they are trying to protect there resources from foreigners. They aren't doing it by cutting your heads off, they just kick you out if you are caught working on the land.
And it isn't your typical big scale mining operation that goes a mile down. The gold is almost literally sticking out of the ground. Not a big worry of an industrial accident
Admitedly this was in Nigeria, which has a much worse reputation, but I personally know of someone killed there while engaging in shady deals. West Africa is an easy place to have an "accident". And because of the heat, humidity and lack of formal morgues there isn't always an intact body for one's next of kin to claim.....
Do you mean panning for gold? I find it difficult to believe that ares with substatial easily mined deposits are not controlled by the government.
Gold - Africa - wildwyaatt - 11-01-2012
I was leaning towards Big in Japan saying, but that jungle gold shows very aggressive Chinese illegal miners with guns shooting off all the time. For the truly adventurous that Congo north eat border has tons of gold around, few competitors, but it is likely dangerous.
Gold - Africa - RASER - 11-01-2012
I would be *very* careful doing any sort of business/mining in African countries.
Its still possible to trade gold [buy low and sell high] as the difference between countries pricing is large, its *not* really legal so be careful
We should all just move to Somalia and become pirates and kidnap, its WELL out of hand and no stopping it....
"Lifes about, shooting your load"
Gold - Africa - Jaydublin - 11-02-2012
A little off subject but I remember a couple years ago discussing Gold Rush Alaska with my friend and how a gold rush show mania will make the flip this house mania look like a shitty pilot. We are just seeing the beginning.
Gold - Africa - SelfPaid - 11-03-2012
Quote: (10-26-2012 11:13 PM)BIGINJAPAN Wrote:
Anybody who puts their retirement in the hands of a 3rd party is pretty much fucked.
NEWS FLASH: The 25 year bull run in stocks and the 30 year bull run in bonds is over. Unless you take control of your own destiny you will never retire. Nobody gives a fuck about your money except you.
That's it right there: NOBODY GIVES A FUCK ABOUT YOU ORE YOU're Money like you do.
When I read about things Like that I think who is benefitting from this Stuff the People who go out there searching fore Gold in Ghana?
or the people who told you that there is Gold to be found there ?
Why do People always want the easy Way and Get Rich Quick
There is no such thing by the way.
People have been Making Money fore decades in 3 Places
1. Real Estate ( Casflow+Capital Gain's)
2.Stock Market ( Casflow)
3.Business ( Casflow+ Option to Sell it )
Why don't you just focuse on one of this thing's and Learn how to do it Properly instead of searching fore the next Big thing. There is fucking Gold everywhere if you open you're eyes you just have to learn how to see it and make it Work for you.
If you do that you don't need anybody to show you how to be succesful since have found you're own Way and you cane pay people to do the thing'S you're not that Good at.
It might not be easy fore everybody but it is Simple if you actualy go out and just do it.
1.Take Action
2. Create a Result
3.Make Corrections on the Result's you don't like.
And Repeat until what you do produces the Result's you want to have financially that's fucking it no magic in there just common sense..which to me looks like it is not so commen sometimes.
Hope that help's
Eric
Gold - Africa - Jaydublin - 11-04-2012
Biginjapan,
Do you have any experience with Alaskan gold mining? Or know a good website for me to educate myself a little on it?
Gold - Africa - BIGINJAPAN - 11-04-2012
Quote: (11-04-2012 03:12 PM)Jaydublin Wrote:
Biginjapan,
Do you have any experience with Alaskan gold mining? Or know a good website for me to educate myself a little on it?
No I don't. The only thing I have been involved in besides buying it myself is the financing of one these operations in Ghana.