Uganda : ,,Deposits Of Gold Worth $12 Trillion"

[VicBee]

And I bet the general population of Uganda will be just as poor as ever while the 1% elite will be immensely wealthy

 

[maxinger]

if there is so much gold deposit,
then gold will not be a safe haven.

Then gold will be classified as non-precious metal.

 

[earth_imperator]

I'm pretty sure @Nobert WASN'T serious! Nobert is saying the neonazi claim was a false claim to provide justification for the invasion of Ukraine. If they were to invade Uganda for the gold, he's saying they might as well use the same excuse!!

Whatever. It's way better than the WMD lie of the USA for its invasion of Iraq back in 2003...

the United States Senate officially released the Senate Report of Pre-war Intelligence on Iraq which concluded that many of the Bush Administration's pre-war statements about Iraqi WMD were misleading and not supported by the underlying intelligence. United States–led inspections later found that Iraq had earlier ceased active WMD production and stockpiling; the war was called by many, including 2008 Republican presidential nominee John McCain, a "mistake".[1]

 

[Snuskpelle]

This sounds right. @Snuskpelle

320,000,000 tons x ~55,000,000 $/ton = $17,600,000,000,000,000 ($18 QUADRILLION) which is not the value claimed. So, he can't mean 320,000,000 tons of pure gold and must mean 320,000,000 tons of material prior to refining.

Dividing 18 quadrillion by ~1000 gives ~$18 trillion, or the roughly $12 trillion being claimed (close enough for an orders of magnitude approximation). So, the claim must be for 320,000 tons of pure gold after being refined, not 320 million.

(Not sure why Snuskpelle divides by 100 but I'm guessing that was just a mistake.)

So, the claim is they believe there are deposits equivalent to 0.13% of all existing gold.

Nah, the point was regarding these figures (didn't watch video) https://www.reuters.com/article/uganda-gold-idUSKBN2NP17M

Typical high quality deposits contain 10 g/t gold = 10 / 1 000 000 = 0.001%

I.e. the person I discussed with considered the implied purity in the article entirely unrealistic, and is 1000 times above the figure Google claims to be a typical high purity (that's the 0.001% above).

0.001% of 31 million tonnes = 310 tonnes gold

$54.74 million/tonne * 310 tonnes = roughly $17 billion

Do note that 31 million seems different from 320 million in video. If it's indeed 320 million tonnes of ore then the value can be north of $170 billion.

 

[Snuskpelle]

And because I know @Overnight likes Youtube videos, here's some scenes from my favorite Ugandan movie:

 

[Nobert]

Have you ever considered the possibility that Putin uses dumb excuses to drive your kind absolutely fucking insane just because he can? You can't be seriously believing that he was serious about this reason to invade, lol.

Usually i try to share either something stupid or something interesting (imo).
You choose which one it was.

And because I know @Overnight likes Youtube videos, here's some scenes from my favorite Ugandan movie:

This is gold as well.

 

[The_Krakenite]

For anyone how has been trading mining stocks on the TSX. These adverts have a tendency to always either turn out totally fake, or have a little bit of truth to them, but turn out totally over-blown. In any case, they always achieve a rally in the stock tickers, and then implode later.

 

[SunTrader]

 

[Millionaire]

Then gold will be classified as non-precious metal.

Silver is classified as a precious metal.
And there is 10 times more silver than there is gold.
Even if the amount of gold doubled overnight it would still be classed as a precious metal.

 

[Specterx]

A great example for the world of the African penchant for "exaggeration". Reminds me of when a dude who washed cars near my office told me he used to be a navy SEAL. The guy wasn't psychotic and said it completely matter-of-fact, but nonetheless...