Reading this article released today, claims people are dredging on the American river near my house and pulling in thousands of dollars, nothing could be further from the truth.
QuoteThe New California Gold Rush. The gold rush is back on in California. On my way back from Lake Tahoe recently, I saw that every bend of the American river was dotted with hopeful amateur miners, looking to make a windfall fortune. Weekend hobbyists were there panning away from the banks, while the hardcore pros stood in hip waders balancing portable pumps on truck inner tubes, pouring sand into sluice boxes. A sharp-eyed veteran can take in $2,000 worth of gold dust a day. The new 2011'ers were driven by a record price of gold at $1,550 and the attendant headlines, but also by unemployment, and recent heavy rains last winter that flushed huge new quantities of the yellow metal out of the High Sierras.
They were no doubt inspired by the chance discovery of an 8.7 ounce nugget in May near Bakersfield, worth an impressive $10,000. Local folklore says that The Sierra's have given up only 20% of their gold, and the remaining 80% is still up there awaiting discovery.
(https://conservativepoliticalforum.com/proxy.php?request=http%3A%2F%2Fi562.photobucket.com%2Falbums%2Fss62%2Fmadhedge%2FAmad2%2FGoldNugget2-1.jpg%3Ft%3D1306683821&hash=d12618ac5b6b51f288d4ab5c769c687560a61dc2)
(https://conservativepoliticalforum.com/proxy.php?request=http%3A%2F%2Fi562.photobucket.com%2Falbums%2Fss62%2Fmadhedge%2FAmad2%2Fgoldnugget4-1.jpg%3Ft%3D1306683835&hash=f913ec28341aa0fe619faf82b8113d4d3f53a55c)
A couple of points, first there is no such thing as the Sierras, it is singular, Sierra, there is only one of them.
Second, dredging permits are no longer available, and haven't been for three years, and third, the 49ers only buried more gold than they pulled out, they got less than 1% of available gold.
Thing is, this State has its head up its ass, they are voting today to make the dredging moratorium permanent, so for this guy to claim it was recent, is full of crap.
http://www.madhedgefundtrader.com/june-17-2011-2.html (http://www.madhedgefundtrader.com/june-17-2011-2.html)
OK [rant off] :D
:o Hmmmm....What business is he in selling gold panning equipment? LOL
Nothing beats local knowledge.
Curious though, are people finding any gold with all the snow melt?
Quote from: WoodBurner on June 18, 2011, 03:59:02 AM
Nothing beats local knowledge.
Curious though, are people finding any gold with all the snow melt?
I think investments.
Must have been a slow news day. :D
Quote from: WoodBurner on June 18, 2011, 03:59:02 AM
Nothing beats local knowledge.
Curious though, are people finding any gold with all the snow melt?
Not until they release the dredging ban.
Never believe anyone that tells you they get gold by panning, it's a classifying tool.
Once the water slows down, some will get out in the river and take shovel fulls of gravel and work it on the bank, but it is really really really time consuming.
There will be some of us that will go to isolated areas and dredge, but not many know where to go.
This State really sucks!