Will there be Enough Gold to match the Exploding Demand?
By GCRU Gold News on Saturday, July 30 2016, 03:44 - Permalink
According to Pierre Lassonde, chairman of the gold royalty and streaming company Franco Nevada, the number of “super-giant” discoveries (more than 20 million ounces) has plunged in recent years.
In the 1980s, he says, 14 super-giant deposits were located. Eleven were found in the 1990s. But only two have been discovered in the past eight years. And none in the past five.
Lassonde also says the quality of most recent gold discoveries is second- and third-rate. Ore grades averaged 12 grams per ton in the 1950s. Now they’re only about 3 grams per ton. And he says many gold finds are only yielding one lonesome gram per ton. Never before has so much time and money been spent… by so many producers… to fetch so little gold.
Surging demand… fewer finds… inferior product…