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 Posted: Thu, 2nd May 2013 14:00 Post subject: WOW. So the Barrick Gold is here |
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| Posted: Thu, 2nd May 2013 14:07 Post subject: |
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dude, we get only 10% of the income generated by mining gold here.. 
| Lutzifer wrote: | | and yes, mine is only average |
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Sin317
Banned
Posts: 24322
Location: Geneva
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| Posted: Thu, 2nd May 2013 14:12 Post subject: |
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we get the rest ... literally ...
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| Posted: Thu, 2nd May 2013 14:22 Post subject: |
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lol the government doesn't bend, the guy that makes the deal gets a million or two from the corp to sign it that way, some others around it maybe 100k, and they fuck over the country..
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Thu, 2nd May 2013 14:45 Post subject: |
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Be happy dude!
If only they'd do that here
And they do that because of greed.
| Lutzifer wrote: | | and yes, mine is only average |
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| Posted: Thu, 2nd May 2013 16:02 Post subject: |
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Happy? Im amazed at how sublime people are to their governments, the power of the masses has been lost, sadly i have no idea how it could be recovered.
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Bigperm
Posts: 1908
Location: Alberta,Canada
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| Posted: Thu, 2nd May 2013 17:03 Post subject: |
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Your government or other owners of the land would have had to have made deals and contracts with Barrick. They are not stealing anything.
When i lease someones mineral rights. There lucky if they get 18%. 15% is the norm. I get 85% because i do all the work. I take all the risk. So of course i get all the rewards.
Don't get me wrong, 3% sucks. But are you sure this isn't a sliding scale royalty. Where as once Barrick has recouped there initial costs, the royalty should increase?
Simple business. I cant comment on possible corruption though.
| Jenni wrote: | | I drunk. I don't fucking care! |
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| Posted: Thu, 2nd May 2013 17:26 Post subject: |
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Edit: And yes they are stealing, they gave false declarations in customs and mixed the silver/gold to disguise it as Dore.
I would understand that, they may have the machinery and the people and the initial investment, but from a logical point its ridiculous.
They have that, which is attainable but they dont have Minerals, which are imposible to just fabricate from thin air.
If its proven that the gold is there, what risk is there, its only a long process of extracting and refining, its a guaranteed profit even the initial costs are puny compared to the final profit.
So again, how is it that they gain such a big upper hand, even 18% is too little considering that the Minerals are 100 times more valuable than having the machinery and people to extract it.
Its ridiculous.
They should be lucky they can find people with Gold to get mined, they should get a 50% only and that would still cover all their expenses. But i know its more complicated than that. But i find it hard to think that the Machinery and people and the process is more valuable than the minerals themselves.
I think that a contract like this should be 40% miners 60% state, with a recovery plan in case they cant save the initial investment and gain profit. Its a no loss contract. the STATE owns the fucking gold, the barrick wont find it anywhere, so how can they gain the upper hand? im baffled.
The state should hire a minery and rent the equipment and hire the services and then BUY the machinery and train their own locals to take over the mining operations, everyone wins but the owner of the minerals should be the winning side in the end.
Im not gonna think too deeply so maybe im mistake in many things, but from a simple logical view, i find it hard to believe its fair for the Barrick to get more than 60% in any of their mining operations.
Fuck if i were the president i would throw them out, FUCK THEM, i would prefer to find an Oriental investor and start a long term plan of establishing a mining operation and inmediately start trading gold for oil and make a fair contract of profits with the oriental investors.
Also consider this: Barrick gold has been losing value in the market, its said they have a big big loss of value, so they should be fucking lucky they got a contract in the first place. Again, what good is the machinery and people etc if you cant find the gold, meanwhile when will the gold and silver lose its value? I fail to see the logic
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Invasor
Moderator
Posts: 7638
Location: On the road
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| Posted: Thu, 2nd May 2013 19:53 Post subject: |
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The fuck? I give up. This mining thing baffles me beyond patience. Fuck it. Anyways i wanna live in canada. Let em sink this fucking island.
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LeoNatan
☢ NFOHump Despot ☢
Posts: 73248
Location: Ramat HaSharon, Israel 🇮🇱
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| Posted: Thu, 2nd May 2013 19:53 Post subject: |
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| Lopin18 wrote: | | Happy? Im amazed at how sublime people are to their governments, the power of the masses has been lost, sadly i have no idea how it could be recovered. |
What are you, some communist?
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Invasor
Moderator
Posts: 7638
Location: On the road
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| Posted: Thu, 2nd May 2013 20:12 Post subject: |
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| Lopin18 wrote: | | The fuck? I give up. This mining thing baffles me beyond patience. Fuck it. Anyways i wanna live in canada. Let em sink this fucking island. |
Unfortunately that's the best thing we can do IMO... fighting millions of people doesn't work.
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Bigperm
Posts: 1908
Location: Alberta,Canada
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| Posted: Fri, 3rd May 2013 16:53 Post subject: |
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Well corruption sucks. Cant stand crooks.
One thing though. Didnt Barrak lease the land undeveloped then explore for gold? This is how it works in oil and gas. I lease the mineral rights, and surface land. Put about a years worth of science into the play (Geology, geophysics and engineering), then license and drill a well. This is very capital intensive and there is no guarantee ill even drill an oil well. Could be water, or even dry.
So right now, i have about say 1 mil invested in just science. Now i drill a well for about 1.2 million. I have now 2.2 million in cap costs and we are not even sure if we found oil.
I would think mining would be quite similar. And to put it in perspective. I'm a junior oil and gas company, with 15 employees. And i drill about 10 wells a year. So imagine the cap costs associated in a large international gold mining operation.
I'm not defending barrak at all, please don't take it that way. And i hate crooks.
| Jenni wrote: | | I drunk. I don't fucking care! |
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| Posted: Fri, 3rd May 2013 17:12 Post subject: |
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I dont know the initial story of the mine, but its logical that they leased the land or something nor do i know a lot about mining or oil business.
I can clearly see your point, but to think of the result right now, 4% profit share, its clearly shows a bad business for the country that has the minerals.
Thats why i think that if the government gives you a contract that will give u rights to mine the mountain and that if the profits from the mining dont cover your investment or the mining operation fails to give anything to mine, the government will cover your investment. This contract would give a 60% to the state and 40% to the miner. And is only considered a success if the profits cover the investment and can generate at least 50% of the initial investment, then the recovery plan is considered unnecessary and the profit share starts.
Thats a win-win situation, the risk is run by the government and would promote a fair and exact study of the mining operation plan and the study of the mountain.
Maybe still a shallow thinking but from the Company's side, i wouldnt reject such a contract, and from the government side, i would prefer running this plan than the current one.
Still shallow thinking but its just me bored and trying to understand a way out of this ridiculous situation.
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HubU
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