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.:yours truly:.
Risks for gold mining?
what are the risks for gold mining?plez hurry i need this by tom.thank you:) Additional Details to src50: yes it due
Sort of depends on the mine. There are all kinds of risks. Let me enumerate just a few.
Run out of capital before the mine becomes profitable and banks will not loan any more.
Ore proves lower grade than was expected. Person who sold the mine salted it. Now he has disappeared with all the money and current owners are stuck with an empty hole.
Cave ins. Sort of a hazard with any underground operation.
Miners go on strike for higher wages
Pumps run out of fuel or break down and the mine floods, killing all the miners. Maybe the next batch will not be so eager to sign up. I don't think methane is a problem with gold mines.
Government shuts the mine down for environmental damage. Not likely with the Bush administration, but its days are numbered.
Worse than the government shutting the mine down is that the government levies a $50 million fine for polution clean up.
Doug G
You could marry a liar and end up destitute.
Mad Dog
For the company or for the individual miners? Do some research on Gold Star Resoucres, Yamana Gold, AEM(ticker) forgot company name
don1862
The big risk is that the price of gold will get too high and then decrease. Gold mining stocks tend to track the price of gold. The second risk is that some type of tragedy, accident or natural disaster will close the mine, causing large losses.
src50
Homework's due, huh?
Ted
You incur the expense of prospecting without the reward of finding any gold (or at least enough gold to make mining worth while).
Market price changes. You build a mine with a cost of extracting gold at $600 per oz. The market price of gold drops below $600 per oz.
The mine could pollute and you are held liable for the cleanup costs that weren't in your original plan. (There are companies in the western US that still paying water cleanup costs decades after the mine stopped producing.)
tryin2makea$
what does a piano sound like falling down a mineshaft ?
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