Mongol horde? That would make Vlad think twice??? Or maybe not.
It is honest work and I wish them well.
From comments at the site:
How much storage space does 63 million ozs of gold take up vs its equivalent in barrels of oil at today’s price?
It would be a 16 foot cube.
If you have 8 foot ceilings in your basement, it would take up about a 20’ x 25’ footprint down there.
It’s worth $82B at today’s price. (Obviously it will cost money to mine it, though.)
That’s equivalent to 1.3B barrels of brent crude today.
Russia is producing 11M barrels per day right now. So this gold is the equivalent of 120 days of oil production, or roughly 4 months.
They will go in a drench the ground with acid, grind up all of the ore, and dump it into the biggest rivers around.
And I am confident that the complaints will be minimal.
World gold production is at a record high. Yet the price keeps increasing. Hmmmm……..
Was Todd Hoffman there?.................
Get that kid from Gold Rush to manage it.
Then have that Viking dude from Gold Rush tell the kid he can’t pull a billion a week out of that field because he’s too soft and weak and not smart enough.
Kid’ll pull a billion and a half a week just to shut the Viking dude up.
Just a coincidence they found this just as Maduro moved a billion dollars of gold out of Venezuela.
Moderately good news for Polyus stock but to say it might affect ruble is an exaggeration to say the least.