Uses of Gold

Since the dawn of mankind, 1.4 million tons of silver have been produced to gold’s 165,000 — a ratio of about 8.5 to 1.

Silver is produced at a rate of about 15,600 tons per year, or about 6.2 times the rate of gold.

Silver currently trades at about $14.50/ounce.

Gold trades at about $1,080/ounce.

So while existing reserves and production rates put gold between six and nine times the value of silver, its unique demand still puts its market price at more than 74 times that of its less-shiny cousin.

And that’s not even considering that about 45% of all silver ever produced has been lost. Read the article

• PBOC declared gold reserves now about 55.38 M ounces or 1,722.5 tonnes
• Chinese gold rose to $63.26 billion by end-month – less than 2% of $3.5 trillion FX reserves
• China disclosed on July 17th that its gold holdings had surged 57% since 2009
• China officially owns around 1,720 tonnes of gold

Balance of Payments and International Investment Position Manual (BPM6) drafted by the IMF, in which gold is regarded as “the only case of a financial asset with no counterpart liability”, and is therefore, listed at the top of all reserve assets – above SDRs.

Hi-Ho Silver! Sales of silver coins and minted bars at the Perth Mint jumped to 3.35 million ounces in September. That’s more than four times what was sold in August – a new record.

As investors can see in the graph above, registered gold stocks have dropped to levels where only 1 ounce of registered gold is backing 255.6 claims on that ounce – the highest levels we’ve ever witnessed. That is a BIG spike over the past few weeks as the ratios are going parabolic.This is something that gold bulls should love to see as high owners-per-registered-ounce ratios mean fewer physical ounces per contract ounce – a definite positive. In fact, before 2013 we had never been at even 40 owners per registered ounce – so we’re truly entering uncharted territory.http://seekingalpha.com/article/3522396-comex-available-gold-continues-to-drop-and-why-that-should-matter-for-investors” target=”_blank”

Beadell Resources Limited (“Beadell” or “the Company”) is pleased to announce a maiden Urucum Underground Mineral Resource, produced in accordance with the 2012 Edition of the Australasian Code for Reporting of Mineral Resources and Ore Reserves (the JORC Code).

Key Highlights

• Total Urucum Underground mineral resource is 4.86 million tonnes @ 4.06 g/t gold for 634,000 ounces reported above a lower cut off of 1.6 g/t gold.
• Total Measured and Indicated resources are 2.73 million tonnes @ 4.56 g/t gold for 400,000 ounces.  Total Inferred resources are 2.13 million tonnes @ 3.42 g/t gold for 234,000 ounces.
• The very high grade Central Lode 1 ore shoot located immediately below the Urucum North open pit contains a total resource of 0.59 million tonnes @ 7.54 g/t gold for 143,000 ounces.
• The South Lode 1 ore shoot contains 1.46 million tonnes @ 3.70 g/t gold for 174,000 ounces

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• The Lode 2 ore shoot contains 0.84 million tonnes @ 3.99 g/t gold for 108,000 ounces.
• This Underground resource does not include any of the Urucum open pit reserve, it is all below the current final open pit.
• AMC Consulting have commenced a preliminary review of the model which will form the basis of the Pre-Feasibility study to be completed by AMC Consulting by the end of 2015.
• A significant proportion of the Urucum underground lode system remains unclassified and outside of this resource due to the wide spaced drilling, leaving significant potential to expand the resource in the future.

The high grade nature of this ore body is particularly pleasing with Central Lode 1 averaging 7.54 g/t. The profitability of our current 6-year open pit mine plan will most likely be significantly enhanced and extended with the expected positive results from the prefeasibility study, to be finalised before years end.”

The Urucum Underground mineral resource totalling 4.86 million tonnes @ 4.06 g/t gold for 634,000 ounces has been estimated using Ordinary Kriging and has been reported at a 1.6 g/t lower cut off. The resource encapsulates the northern most section of the 2 km long, 3 million ounces Urucum orebody and is located immediately below the Urucum North open pit reserve. http://bdr.live.irmau.com/IRM/ShowDownloadDoc.aspx?SiteId=278&AnnounceGuid=e1c394c6-347f-4bff-8de0-07e87fd330ba