Business Journal: Gold Mine For Sale

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(Sacramento, CA)
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.