The legions of miners drawn to the 1840’s California gold fields is a testament to the power of gold. Miners braved all sorts of conditions to strike it rich, and that lure still draws miners and fortune seekers to the last unexplored regions of the world. Although many people will never be able to actually participate in the adventure of gold mining in unexplored regions of the planet, the opportunity to be a part of the adventure does exist. Playing the edges of the gold mining business can be fun and exciting for the adventurous at heart, and it can also be profitable if hurdles can be overcome and the long run is considered.
Elray Resources Inc., a junior exploration and development mining company, works to identify and exploit gold and other precious metal deposits, primarily in Cambodia and Mexico. The company has a large presence within the developing Cambodian mining community and a 120-day option agreement for its Mexican opportunity.
The company is, for the most part, a development stage mining company exploring for gold in Cambodia. Cambodia is professed to be one of the last, largely unexplored countries for gold, not counting a cursory 1970’s exploration by the French. From all accounts, mineralization for gold in the country is abundant based on both anecdotal and visual evidence. Generally, this anecdotal evidence and visual inspection is coming from small mining groups and farmers in remote parts of the country. In each case, however, reports indicate narrow seams of gold and nearby geological references consistent with much larger deposits.
Gold prices do seem to be establishing a workable cost margin basis to offer Elray Resources the ability to tap this untamed opportunity. If the evidence found to date is any indication of potential, there is opportunity for profit.
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