Tuesday, May 10, 2011

Comparison Thought to Ponder on the 125 Years of Homestake Mining Company Operation

In his book “Nuggets to Neutinos: the Homestake Story”, Steven T. Mitchel states that in it’s 125 years of operation, the Homestake Mine in Lead, South Dakota produced 40 million ounces of gold.  If one guesses a very high 125 year average gold value at $300/oz. , then the value of the lifetime Homestake gold production would be $12 billion.

Think about it.  The Homestake Mine was an economic power house locally, regionally, Black Hills, South Dakota, nationally, and internationally for 125 years.

Our Government now spends $12 billion and it is hardly worthy of mention …


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