Annual Gold Prices for the past 5 years show that in 2005 the gold price had the biggest annual dollar increase, with an increase of over $80. A chart of annual gold prices over the last 30 years looks like a rollercoaster.
Exploration and development expenditures include all of the costs associated with manpower and activities such as geologists, contractors, engineering, drilling equipment, metallurgical testing and economic feasibility studies.
Gold mining requires the use of specialized facilities and technology. Gold prices can fluctuate widely and are affected by numerous factors beyond the Company’s control. Gold is measured in Troy ounces, which weigh 10 percent more than the ounces used for potatoes and feathers. Gold is often found in rock that contains sulfides, which when exposed to oxygen, water, and specialized bacteria produce highly acidic water.
Gold’s attractive appearance and malleability mean that it can be enjoyed as jewelry or other ornamentation and yet is easily convertible into coin or bullion. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit...
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