THE LOST CITIES IN ECUADOR
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Thread: THE LOST CITIES IN ECUADOR

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  1. #1
    cr
    May 2005
    Drake, Costa Rica
    1,051
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    THE LOST CITIES IN ECUADOR

    interesting project (on the scale of Kanacki's)
    Metron to Assist Aurania in the Search for the Lost Cities in Ecuador - Aurania Resources

    they are looking for Logroņo de los Caballeros and Sevilla del Oro

    https://www.bloomberg.com/news/featu...cities-of-gold
    even instructive
    Last edited by BillA; Jul 04, 2019 at 05:17 AM. Reason: added info

  2. #2

    Mar 2015
    734
    3781 times
    All Types Of Treasure Hunting
    Quote Originally Posted by BillA View Post
    interesting project (on the scale of Kanacki's)
    Metron to Assist Aurania in the Search for the Lost Cities in Ecuador - Aurania Resources

    they are looking for Logroņo de los Caballeros and Sevilla del Oro

    https://www.bloomberg.com/news/featu...cities-of-gold
    even instructive
    Hello BillA

    There are no guarantees in this world only those willing to push the boundaries. The lost cities project is just one of few amazing projects around the world going in right now. Some will fail others will succeed.

    Fortune seeks only the brave.

    Kanacki

  3. #3
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    perhaps persistence even more

  4. #4

    Mar 2015
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    Persistence is one of the virtues that drove mankind from the stone to putting a man on the moon.

    Kanacki
    Last edited by KANACKI; Jul 22, 2019 at 08:07 PM.
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  5. #5

    Mar 2015
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    The next big thing looking into the future is rare earth minerals. Although there are real challenges ahead as geo political wrangling over control of those resources. Values are set to increase.

    Kanacki
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  6. #6

    Mar 2015
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    I should add China has the stranglehold on rare earth minerals. They control about 70% of the worlds production.

    China has 44 Million tons reserves. Brazil and Vietnam has 22 million Tons reserves, Russia 12 million tones reserves. India 6.9 million tons reserves. Australia has 3.4 million tons and USA has only 1.4 million Tons. rest of world 4.43 million tons.

    But that should note Reserves on land. Undersea rehearse are even much larger. My company has invested interests in a company that owns 75% undersea mining leases. While undersea mining is never been successfully accomplished there is one project set to get off the ground and running. However its been continued hampered by attempts by china via funding of opposing environmental groups and through challenging contractual agreements and manipulating of investor partner companies involved other mining interests. While the technical challenges are like a moon landing. And risks are very high.

    If the project is successful there will be serious challenge to China's domination of rare earth metals.

    That is one reason why china has been Sabre rattling over the south china sea because the sea floor is full of SMS Deposits containing gold copper nickel and other rare earth minerals.

    The electric vehicle (EV) boom will cause a new wave of rare earth demand especially for Neodymium (Nd) and Dysprosium (Dy), as they are commonly used components in electric vehicle motor magnets. As the EV boom takes off (especially post 2020) demand for these key rare earths will surge.

    If electric vehicles continue to boom then the demand surge expected for the ‘magnet rare earths’ neodymium (Nd) and praseodymium (Pr) will be huge (see chart below). Dysprosium [Dy] is also sometimes used to make permanent magnets. As a result these magnet rare earths are forecast to go into deficit as the EV boom takes off. But its not just EV Boom by technology growth be it wind turbines. Electric batteries. Computers phones all technological advances of the 21st century.

    The demand of rare minerals will increase by 653% Cobalt 1998% lithium 2898% graphite 524% Nickel 105% Traditional demand for steel will contract by 5%

    It seems amusing to me seeing young idealistic protesters against mining super gluing themselves to roads protest against the evils of mining. Yet the quite happy to use smart phone computers SUV'S and indulge themselves in all the luxuries technology has to offer is all from mining and petrol chemical industries . Yet never gave one thought that its their consumer demand that drives mining in the first place?

    Like it or love it its the economic reality of how the world really works.

    Kanacki
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  7. #7

    Mar 2015
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    Hello Simon They are locked into restructuring the company and refunding to save the company. There has been ongoing issues in funding. Support fell away after an endless onslaught of legal challenges during embryonic stages of development. Ironic as they had all mining equipment built however the ship they contracted to build in china for the project at the point of hand over the Chinese company sold it to another company. (Was that from Chinese government pressures who sees this project as threat to their dominance ) This set the time table for the company back months and cost the company fortune. Originally production should of started now.

    The delay cost so much money the company needs refunding to complete the project. 500 million has been spent in developing this project. The outcome depends on what happens in next 6 months to get about 150 million to complete the project.

    It would be a sad outcome for a project that had so much promise. I have no doubt there is a Chinese consortium awaiting for them to go under to buy the technology and plant developed for the project at a fire sale price.

    But after being in mining game for years I am only to well aware of politics behind the scenes in such projects. I know only too well how ruthless the mining game is. That is why my company has a diverse portfolio of investments. Hence the saying never keep all your eggs in one basket.

    Kanacki
    Last edited by KANACKI; Jul 23, 2019 at 06:15 AM.
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  8. #8
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    ah Kanacki

    Such a beautiful bouquet, which flower first ? Rare Earths, but difficult to ignore the temptation of China.

    What is a nominal value ($/kg) of the 'typical' undersea module ? Is there a big range of values ?
    Are the modules somewhat sorted geographically in terms of their (mixture of) constituent materials ?
    In terms of the constituent materials, these are concentrated to what levels ? (beyond that occuring in mines on land)
    Does the same radioactive 'contamination' occur as with rare earth mines on land ?

    The answers are positive else you would not be involved, I understand; but I am still curious.
    Too bad T Thompson got hooked on ships.

    China is a fascinating topic, one could say a 5000+ year sociology experiment (except today everyone participates).
    Disclaimer: I am ignorant, closest I've been is via a girlfriend who went to teach there for a summer 25 years ago. again: 25 years ago
    China's government is somewhat novel and seems a certain improvement over what they had before, such is relative.
    China, like another Eurasian country, does seem to be able to formulate long-term plans and work towards their implementation.
    China seems intent on claiming the South China Sea (whose name is this ?), and who is going to stop them ?
    (If the Europeans could take the Americas, why not China and an adjacent waterbody ?)

    All countries are in competition.
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  9. #9

    Mar 2015
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    My apologies for slightly deviating in status of the company in question strayed a little into politics. Its is sadly just one of the hurdles for modern mining operations have to face.

    Kanacki
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  10. #10
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    I should have ignored Simon's comments, the mods will clean it up as they choose.

    Politics (local) is indeed why the same resource will have a different value from one country vs another,
    i.e. how valid will the agreement be when the next government (entrenched band of thieves and liars) comes to power.

    I could provide some examples - but we all know them well.
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  11. #11
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    hey Simon, it was just the politics
    your posts are fine

    edit: late
    many here are not from/in the US and have viewpoints based on many factors
    but substantially different, and at odds with, viewpoints held in the US (and promoted by the government)
    - it is generally accepted that all governments act (at least nominally) on behalf of their citizens, its their job
    Last edited by BillA; Jul 23, 2019 at 07:19 AM.
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  12. #12

    Mar 2015
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    Hello All just keeping in line with rules here. There is much like and agree with both your comments and I could add to them. Thus once again straying into politics so I will refrain from doing so and revert to the original post.

    The lost cities project is technically not an archaeological expedition but a venture to explore the sites of these lost cities ecomindas for their mineral resources. Dr. Barron is professional and very approachable person. He spent many years on mining projects all around the world. The idea of Lidar is scan his site to see if there is any physical ruins still in existence in the jungle to help narrow down the search area. These ventures are always high risk. With all the technology eventually it will come down to a bunch a rag tag drillers to drill in what we call in the industry "truth Holes" Where core samples are taken to determine the ore body is economic. These projects takes time some times years to develop. Some times a modern mine can take 20 years to develop. Costing many millions to get up and running. Even then such mines have limited life. Today most mines need to factor in remedial costs post mining.

    Among many other factors.

    Kanacki
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  13. #13
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    Kanacki

    I love Lidar; a long time ago I was a radar tech and when satellites first went up I understood that a scan could be taken w/o vegetation. Took a long time to get here and still is completely outside the budget of a treasure hunter, but I still hunger.
    I suspect that rather more than a few lost cities will be identified, super.
    Yea, the first crews drilling will have it hellish tough. I have never watched cores being pulled and boxed, must be fun I mean work.
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  14. #14

    Mar 2015
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    3781 times
    All Types Of Treasure Hunting
    Hello BillA

    Lidar is a very useful too but not a magic bullet as some people believe. Same with all types of technology only effective in combinations. Drilling holes? I enjoyed when I was young and fit and cannot count the places we drilled as exploration contractors all over the world.

    I miss the people I worked with. Some times you cursed them some times you loved them like family. Some times you spent more time with them than you had with your own family, with long periods away. Sadly now many of them have passed on, but memories of each and everyone is still clear as day to me, even though the passage of time I am forgetting names and faces.

    Such is the passage of life now a mere memory of a time and place.

    Kanacki
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  15. #15
    cr
    May 2005
    Drake, Costa Rica
    1,051
    1429 times
    sic transit gloria
    I asked an older guy (76) about his friends and he said "I don't have any, they're all dead".

    hi ho - Vonnegut
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