What (roughly) does this volume represent? (I have no clue!)
Claude.ai suggested that about 100m troy ounces get mined each year, which perhaps suggests a total of (very roughly) 10-15 years worth of current gold production perhaps?
I realise that the estimates aren't worth much at such an early stage, and that they can't immediately mine it, and when they can, it will come with the usual challenges and risks and delays.
Also, if there is a narrative at the moment that aims to move money out of precious metals (eg into crypto), then it's particularly interesting to see this news coming from El Salvador (and news from China, who presumably don't want gold prices to go up too fast at the moment).
[Am waiting to hear that the aliens are bringing us gold from asteroids ... even though some of the UAP followers think that we exist here on earth primarily to mine gold - in which case one would assume that they might at some point come and take it! Comex vaults are presumably more UAP friendly than electronic scrap say! :-) ]
What (roughly) does this volume represent? (I have no clue!)
Claude.ai suggested that about 100m troy ounces get mined each year, which perhaps suggests a total of (very roughly) 10-15 years worth of current gold production perhaps?
I realise that the estimates aren't worth much at such an early stage, and that they can't immediately mine it, and when they can, it will come with the usual challenges and risks and delays.
Also, if there is a narrative at the moment that aims to move money out of precious metals (eg into crypto), then it's particularly interesting to see this news coming from El Salvador (and news from China, who presumably don't want gold prices to go up too fast at the moment).
[Am waiting to hear that the aliens are bringing us gold from asteroids ... even though some of the UAP followers think that we exist here on earth primarily to mine gold - in which case one would assume that they might at some point come and take it! Comex vaults are presumably more UAP friendly than electronic scrap say! :-) ]