The stated mission of Earth Dragon Resources is to purchase, develop, and produce high quality end-stage gold projects. Its current focus is in Africa, where it aims to progress from advanced exploration to early stage production of gold properties it already has in Ghana and Tanzania.
Africa is the world’s largest source of gold, with South Africa being the continent’s leading producer. Ghana is the second largest gold producing nation in Africa, with Tanzania, one of the fastest emerging gold producers, now the third.
In Ghana, Earth Dragon has identified an area of mineralized quartz veins averaging 1 meter in thickness, with similar findings in Tanzania. In both countries, the plan is to mine the quartz reefs in an open cast blast-shovel-haul operation, eventually reaching 20 tons per day. The ore will be processed using a continuous feed modular gold plant, which can be easily scaled up. Each operation is anticipated to produce between 4,000 and 10,000 troy ounces of gold per year, returning gross revenues estimated to be at least $18.8 million USD at projected prices.
Demand for gold is worldwide, but is currently strongest in China, India, and the Middle East. Although India is still the largest consumer of gold, China is fast becoming a major demand driver. As China continues to grow into an economic powerhouse, with an exploding consumer class, the demand for gold in all forms will continue to expand. And this is happening at a time when worldwide gold production is actually declining. Like oil, gold is getting harder to find. And it’s not hard to figure out what will happen to price if demand continues to increase faster than supply.
For more information, visit the company’s website at www.EarthDragonGold.com
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