Goldfield, Arizona

There are many small gold mines all across Arizona. But even if these mines produce enough gold the big companies are not always interested in buying them.

The operational mine in Goldfield, Arizona is one of these mines. The owner says that it produces more gold than any other metal: 75% gold and 25% silver. He also says that that the amount of gold that is in the mine can rise up to 60 million dollars. The only problem is that he is too old to stay in this line of business and he hopes to find a small Canadian mining company to become its partner.

Back in 1850s, Goldfield was an important mine after the California gold rush subsided. After several major gold findings, Goldfield managed to become for a while America's second-largest producer. Arizona has been and still is attractive to owners and prospectors from other states.

The mayor of Goldfield owns two mines: the Black Queen and Mammoth. He says that every week newcomers, who are mostly unemployed or bankrupt company owners, come to Goldfield in hope of striking gold. Most of them start buying picks and pans and try to find a place near the river where they can camp. The bad side is that very few last more than two months before they pack everything and go home. On the other hand, the owners of the gold mines have serious chances of discovering the glittering metal.

The downside of the problem is that in order to figure out whether there are important amounts of gold in the mines or not, a series of expensive tests have to be done. The simple transportation of materials to the site costs millions. For a mine to be profitable more minerals besides the yellow metal have to be produced, preferably valuable minerals. While some are willing to sell their mines on the spot, others try to work twice as hard in the weekends in hope of striking gold.

Learn from professionals how to buy gold bullion in times of recession.

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