Ship with 700 tns of gold ore disappears off Russia in storm.

[powderman]

Ship with 700 tons of gold ore disappears off Russia  Published October 29, 2012
Associated Press    MOSCOW –  A vessel with a nine-person crew and 700 tons of gold ore onboard has disappeared in stormy seas off Russia's Pacific Coast.
The ship sent a distress call on Sunday as it was sailing from the coastal town of Neran to Feklistov Island in the Sea of Okhotsk.
The vessel, hired by mining company Polymetal, was carrying 700 tons of gold ore from one deposit to another where it was to be processed. Gold ore is the material from which gold is extracted and contains only a small percentage of the precious metal.
Polymetal's spokesman on Monday would not estimate the value of the cargo.
The company said it has shipped ore via that route before, and there was nothing unusual in shipping it by the sea.

Read more: http://www.foxnews.com/world/2012/10/29/ship-with-700-tons-gold-ore-disappears-off-russia/#ixzz2AilZHU2n

[BUGEYE]

whew, when I read the title, I thought it said "700 tons of gold"  I almost fainted.  but then I saw "gold ore"
that's still a shame, especially since some sailors are lost.

[powderman]

whew, when I read the title, I thought it said "700 tons of gold"  I almost fainted.  but then I saw "gold ore"
that's still a shame, especially since some sailors are lost.

 
Still boggles my mind how that much wt can ever float. POWDERMAN. 

[rdmallory]

Mines that are probably considered marginal yield something on the order of 4 to 6 grams of gold per ton of ore,

So 3,500 grams = 124 ounces at 1600 an ounce.

So $198,400 after refining. 

Had it been corn at $316 a ton $2,216,200

[BUGEYE]

whew, when I read the title, I thought it said "700 tons of gold"  I almost fainted.  but then I saw "gold ore"
that's still a shame, especially since some sailors are lost.

 
Still boggles my mind how that much wt can ever float. POWDERMAN. 

our last cruise was on a ship with 158,000 gross tons. it was a monster.