Gold

[Acebull]

G'Day All
GOLD, the word that has lured people all around the world to try to make it rich so is it still possible to do it today in Australia with modern technology like Metal detectors and the like. So my question is it possible to do it or just a pipe dream I have looked at lots of youtube videos where you see people finding gold and saying that they would not get out of bed for anything less that $1000 bucks a day is that just B.S or is that possible with all the restrictions like big mineing companies ( that most are not even Australian ) and our own government stopping people looking for gold in crown-land and national park land let along land owners not letting people on there land.So if you buy a minelab GPZ7000 would it ever pay for itself or just be a expensive TOY 8) 8) 8) 8) So what do we all think I'm not picking on the Gpz7000 I just used it as a example

Cheers Ted

 

[PabloP]

Ah, I have seen this post elsewhere and thought that I would leave it to others to provide their input. But my two pennies worth .....

There is no simple answer, but for most people swinging a detector, the answer is that it is a hobby, and almost a lifestyle choice, not a money making business. Having said that there are quite a few out there detecting who are making a good income, but mainly due to the enormous effort that they put in and the hardships that they endure to find gold.

Most of the easy to find gold has been found, so to find more than the average bit here and there, you have to either work in what are very inhospitable places for many months of the year, or find a honey spot on private land somewhere. Yes people have made some special finds here and there, but not enough to make them rich.

Rob.

 

[WalnLiz]

Any hobby prospector that says he wouldn't get out of bed for any less than $1000 a day, is probably still in bed fast asleep having a wonderful dream. Reality will soon set in when he wakes up. You can have your good days where a couple of nuggets can tally over a few ounces....but you will have many more days where a couple of grams will pull you up. Then there's days when the jar does not rattle at all.

So to answer your question....if you're a part time prospector, don't give up your day job too soon. It's the thrill of the hunt that can be more rewarding than the find itself, and if this doesn't hold significant value in your train of thought, then disappointment can soon ruin your ambitions.

Wal.

 

[Swinging & digging]

Ted,
We would be VERY LUCKY to get $50 of gold in a day and that will decline with more people looking which brings in more restrictions and less gold to found.
If you want to be rich start a business, buy shares or rental properties!

No money in gold.

 

[jethro]

I think Wal has pretty much nailed it. When "prospecting" you cannnot with any certainty say how much you are going to find each day. When "mining" you will or should be working on a fair average.
When I was a lot more active in the ''club'' scene I met serveral people that had found multi ounce nuggets ( one around 20 ounces ) that in my opinion were more likely to find gold up trees than where they were generally searching. I put there good finds down to blind luck & the fact that where they got there good gold from looked so unlikely that more experienced operators had passed it by. Ialso met several prospectors that had paid for every machine they had owned with gold found a some paid for a lot more as well on a regular basis. To a man they all worked long hard hrs to get the weight on a regular basis.

 

[kemjak57]

Like everything in life. You get out of it what you put into it. Hard work and persistence will reward you. Take what opportunities present themselves and give it a shot. Good luck whichever way you go.

 

[Gold trooper]

Hello Ted,

Well I detect approx. 1 week a month. I'm no expert but I've learnt a thing or two over the years.
So I have to tell you, since owning the 7000 I have gained a lot and lost a lot.

Let me explain further,

Gained: extra bullets, staples, nails and all sorts of rubbish than what I've ever found.
Gained: a couple of extra Asian friends when I've intruded popping up in their back yard.
Gained: a new found love for my SDC2300 on those really tired days.
Gained: ok, yes I've gained some extra gold since February with the 7000. In fact I can tell you honestly, about 1 ounce in total.....so doing the math. That's about $1500 over 4-5weeks of hard and at times deep digging for 6-8hrs a day.

Lost: 5-10kgs in body fat since owning the 7000
Lost: the bingo wings, now the guns are huge.
Lost: the double chin.

So in all, I love the 7000 but then again I just love this hobby. I love the bush. I love a chat. I love a warm fire and a cold beer.
I'd get out of bed for that any day and it's worth way more than the gold you find.

So yes mate GOLD

 

[Heatho]

Q:How do you end up with a small fortune gold prospecting?

A: You start with a much larger fortune. :lol:

 

[Acebull]

G'Day All Thank you for the advice just bought a GPX 5000 now just got to get out the Gold and Ghost books and find some GOLD

Cheers Ted

 

[user 1769]

Lost: 5-10kgs in body fat since owning the 7000
Lost: the bingo wings, now the guns are huge.
Lost: the double chin.

Hahaha, who needs a gym?

 

[Gold trooper]

Lost: 5-10kgs in body fat since owning the 7000
Lost: the bingo wings, now the guns are huge.
Lost: the double chin.

Hahaha, who needs a gym?

Exactly mate,
Plus who would want a gym, when you can roam freely in the bush away from the rest of the worlds problems.

 

[nuggetino]

It's a tough racket to make a living gold prospecting and my hat is off to anyone who is doing it full time. It's doable but just like in the days of the old timers there's an increasingly small number of folk who will strike it rich and many more who won't make wages. I spent 3 months in WA and have a bit over an ounce for it. I spent way more money on flat tyres,fuel and equipment maintenance than I ofund in gold but was the most fun I've ever had and I wish I could have done it longer.

Then again I have captured a glint at what it may be like to rely on it for a living. I see some very stressful times ahead for when the colour dries up and you're living on the smell of an oily rag while seeking out your next pay check.

I've been spoilt. It's so easy for me to get a job where I can earn a weekly income and all i have to do is turn up and working hard. With Gold you can turn up and work hard and see no reward.

Here's a brilliant blog which highlights the easy days of prospecting in WA taking into account gold prices were far lower 14 years ago. http://www.ontheroad.com.au/old/previous/January2001/jan01article.htm Now that's living the dream!