Business Journal: Gold Mine For Sale
If you’ve ever wanted to own a gold mine, you’re in luck. The owners of a historic gold mine in Amador County are selling their company. Shana Lynch with the Business Journal has more.
Monday, November 5, 2007
Sutter Gold Mining Inc., based in British Columbia, said about 25 companies have expressed interest in their local Sutter Creek mine. The mine contains a 3.2-mile segment of the historic Mother Lode gold belt. In 2006, the company issued a report estimating the mine could contain 695,000 ounces of gold. The company picked a perfect time to sell. Gold prices have been soaring. According to the New York Mercantile Exchange, the price has pushed past $800 per ounce. This means the gold in the mine could be worth $556 million.