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Gold nugget found near Ballarat[Australia- 12 pounds]
The Courier ^ | 17 Jan 2013 | Dellaram Vreeland

Posted on 01/17/2013 9:45:27 AM PST by Theoria

A MASSIVE gold nugget that could be worth upwards of half a million dollars has been unearthed in Ballarat. See your ad here

The nugget, weighing slightly more than five kilograms (177 ounces), was discovered by a local prospector on Wednesday morning, who rushed it to the Ballarat Mining Exchange Gold Shop.

The exact location and the identity of the lucky prospector remain secret, but gold shop owner Cordell Kent said the nugget was found within 30 kilometres of the Ballarat CBD.

It was found about 60 centimetres below the surface, with the prospector using a state-of-the-art detector worth more than $6000 – a Minelab GPX-5000.

If sold at market value it would be worth just shy of $300,000, but its extreme rarity would mean it be worth far more, according to Mr Kent.

“If you are silly enough to melt it down, it would be worth just under $300,000 on market value. But as a nugget at this size and shape, it’s worth significantly more than that,” he said.

“I can’t remember a nugget this big ever being found locally.”

Mr Kent said the prospector had found small pieces of gold before, none of which had been worth more than $1000.

“Up until yesterday the smallest nugget he had found was a small one, about a quarter of an ounce,” he said.

“A finding like this gives people hope. It’s my dream to find something like that, and I’ve been prospecting for more than two decades.

“We’re so far into a gold rush and we have years and years and years of hope ahead of us. It’s unbelievable.”

It is expected the nugget will be sold to a collector or possibly a museum.

Mr Kent said he hoped to sell it within Australian as given its size, there would need to be special permission granted for it to be exported overseas.

He also predicted there would be a fresh gold rush hit the Ballarat region.

“I’ve got no doubt there will be a lot of people who will be very enthusiastic about the goldfields again, it gives people hope,” Mr Kent said. See your ad here

“There’s nothing like digging up money, it’s good fun.”


TOPICS: Business/Economy; Hobbies; Outdoors
KEYWORDS: australia; bahog; gold; goldnugget; metaldetecting; prospecting

Nice Bahog!

1 posted on 01/17/2013 9:45:32 AM PST by Theoria
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To: Theoria

Only two feet deep. That’s a good metal detector but that is also highly reflective target!


2 posted on 01/17/2013 9:48:21 AM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: Theoria

Nice nugget!


3 posted on 01/17/2013 9:48:53 AM PST by DocRock (All they that TAKE the sword shall perish with the sword. Matthew 26:52 Gun grabbers beware.)
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To: Theoria
Wow!! Cool!!

I've actually been to Ballarat..and visited a mine.

4 posted on 01/17/2013 9:49:28 AM PST by Osage Orange (MOLON LABE)
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To: SkyDancer
Janey,

Please bring me back one.

Thank You!

5 posted on 01/17/2013 9:55:56 AM PST by KC_Lion (Build the America you want to live in at your address, and keep looking up.-Sarah Palin)
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To: Theoria
Some overpaid gangsta rapper will buy it so he can hang it around his neck.

Nice find though. I'd like to see it find its way to a museum.

6 posted on 01/17/2013 9:57:45 AM PST by South40
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To: Osage Orange

My great great granddad was in that area in the early 1850s looking for gold

along with 1000s of others

:)

I found that he sailed out of New York City to Melbourne...

He didnt do too good in Aussie so he moved on NZ...

again the goldfields were srowded...

he got little gold..

but he found himself a wife...
]
so he found a good thing after all...

:)

Except for the way he traveled and got there his history and travels are written in the flyleaves of his family Bible...


7 posted on 01/17/2013 10:04:56 AM PST by Tennessee Nana
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To: Theoria
width =50%>
8 posted on 01/17/2013 10:16:12 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Theoria

I don’t know where they come up with the half a million dollars figure. At 177 ounces it’s worth about half that. Even if you take into account that they may be talking Australian dollars (about 1.05 USD) they’re still way off.


9 posted on 01/17/2013 10:20:32 AM PST by youngidiot (God help us.)
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To: Theoria
It's not about having the gold.

It's about finding the gold.

10 posted on 01/17/2013 10:20:56 AM PST by eCSMaster (Palin was correct!)
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To: youngidiot

Jeez, just read that part of the article. Never mind.


11 posted on 01/17/2013 10:21:49 AM PST by youngidiot (God help us.)
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To: youngidiot

A nugget, especially one so rare, will bring much more at auction than the current spot price of the gold.


12 posted on 01/17/2013 10:23:49 AM PST by eCSMaster (Palin was correct!)
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To: Theoria
I love stories like this. I watched a show on NATGEO about the Bahia Emerald which is said to be the largest emerald ever discovered. It was very interesting because the State of California has it in its possession because six or so groups of people are laying claim to it.
13 posted on 01/17/2013 10:32:44 AM PST by Sawdring
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To: eCSMaster

I read that but I just don’t believe it. Gold is gold. Gold dust isn’t worth less per ounce. But maybe they’re right maybe there’s a sucker out there.


14 posted on 01/17/2013 10:33:31 AM PST by youngidiot (God help us.)
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To: youngidiot

Nuggets over 4 ounces normally get double spot price, or 2x the price of gold per ounce. It’s a jewlery/collectors item thingie.


15 posted on 01/17/2013 11:10:47 AM PST by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: Theoria

Looks like a painted rock........


16 posted on 01/17/2013 11:32:54 AM PST by Average Al
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To: youngidiot

No sweat, we were all youngidiots at one time. Look forward to your future when you can be an oldidiot. That’s when the fun starts.


17 posted on 01/17/2013 12:27:04 PM PST by B4Ranch (Those who make peaceful revolution impossible, make violent revolution inevitable-John F. Kennedy)
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To: KC_Lion

I’m looking for me own LOL


18 posted on 01/17/2013 1:30:25 PM PST by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral.)
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To: B4Ranch
No sweat, we were all youngidiots at one time. Look forward to your future when you can be an oldidiot. That’s when the fun starts.

I'm 40 for God's sake.
19 posted on 01/17/2013 2:07:59 PM PST by youngidiot (God help us.)
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To: Theoria

This is BS!!! Look at that photo.. A gold ‘nugget’ of that size would weigh FAR MORE than 12 pounds and the way he handles it in the video is not commensurate with the weight it would be!! BS alert!!


20 posted on 01/17/2013 2:08:26 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: youngidiot

You’re still 30 years away from retirement. Not a youngster anymore but you’re too young to join the oldidiots club.


21 posted on 01/17/2013 4:28:34 PM PST by B4Ranch (Those who make peaceful revolution impossible, make violent revolution inevitable-John F. Kennedy)
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To: Theoria
Since we're talking / writing about Aussie Land (Australia), and when you think back to the movie Crocodile Dundee, (1986) staring Paul Hogan, Linda Kozlowski, John Meillon, David Gulpilil.

The scene where Dundee was confronted by a "would be robber" brandishing a switchblade, and he pulls out that ever so Big Bad A** Bowie Knife, and says now that's a knife.

In that spirit, NOW that's a {Gold} Nugget.

22 posted on 01/17/2013 5:02:07 PM PST by Stanwood_Dave ("Testilying." Cop's don't lie, they just Testily{ing} as taught in their respected Police Academy.)
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