Dr Elder, CEO of Solid Energy, told 500 delegates, to Petroleium Conference, that NZD $5-$20 trillion in Crown Mineras exist in New Zealand territorial limits on August 2010, at Sky Tower Auckland New Zealand, in Dr Elders' key note speech.
On the maximum side let us take gold being 1/4 of NZD $20 trillion or NZD $5,000,000,000,000 or NZD $5x10^12 (is NZD $5 trillion) and at NZD $2,000 an ounce of gold is 2.5 billion ounces or 77.7 billion grams of gold or 77.7 million kilograms or 77.7 thousand tonnes of gold. (1 metric tonne = 32,150.746 Troy ounces)
If gold per troy ounce in future is worth NZD $10,000 an ounce then 15,551 tonnes of gold is worth five trillion dollars.
If gold in future is worth NZD $20,000 an ounce then 7,775 tonnes of gold is worth five trillion dollars.
Gold in New Zealand has increased from USD $257 to USD $1909.62 or seven fold in a decade (2001-2011). In New Zealnd Dollars NZD $581.18 to peaking at $2,307 or four times. Note the Nz to USA exchange rate flucuates from 0.40 (Jan 2001) to 0.88 (July 2011) over this time. Gold from USD $257 (18 Jan 2001) to USD $1909.62 (23 Aug 2011) can be compared to 2004 0.6832 exchange rate high and gold USD $319.89 (3 March)low or NZD $468.22 per ounce of gold. With a high 0.7186 March 2011 and $1426.83 march 2011 of NSD $2000.60 March 2011 to climb to NZD $2300 by August five months later.
A tonne of gold is 1/19.3 of a cubic meter. In other words 20 tonne of gold is a cubic meter 1m x 1m x 1m minus 5%. 77,700 / 20 = 3,660 m^3. 15,551 / 20 = 777 m^3
So 777 m^3 to 3,660 cubic meters of gold (relates to $10,000 an ounce to $2,000 an ounce respectively as limits to fall within in math) or 9m x 9m x 9m to 19m x 19m x 19m gold block
This gold block is from 5% land above the water (nz) and 95% out to sea that is United Nations recognises as being New Zealand's territory.
All gold in the world ever taken out of ground in human history can fills two olympic size swimming pools (5,000 M^3) c.f. 777m^3 to 3,660 m^3 of gold in and around New Zealand.
Your double garage surface area, in a two story sized house, is the foot print, and height, of the block of gold from New Zealand worth NZD $5 trillion dollars.
Now assuming gold is 1/4 the value in a rising market and we can look to make the other $15 trillion from oil, coal, silver, rear earths, etc. The question becomes is the value of New Zealand Crown Minerals in the order of magnitude between NZD $1 trillion and $20 trillion. Per capita this is between NZD $1,000,000 and NZD $5,000,000.
One percent royalty is leaves 99% for competitive tender process. One percent is NZD $10,000 to $50,000 but our over seas debt is NZD $250 billion or $ 50,000 per capita. The present system does not even service our debt if we kept status quo. That is assuming we realize all the minerals. This matter needs more discussion. What if we suggest 1 percent goes to secure our debt and 99% goes in a sovereign fund for New Zealand. That would deliver $950,000 to $4,750,000 per man, women and child in New Zealand. Seems like a better way to proceed.
Rod Young
Sept 2011
ref wikipedia Gold
" A total of 165,000 tonnes of gold have been mined in human history, as of 2009.[1] This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.[2]"
http://wiki.answers.com/Q/How_many_ounces_does_one_ton_of_gold_weigh
says:
Gold is measured in Troy ounces and 1 Troy ounce equals 1.0971428571
ounces.
1 metric tonne = 32,150.746 Troy ounces
1 long ton of 2240 lb (UK) = 32,666.667 Troy ounces
1 short ton of 2000lb (US) = 29,166.667 Troy ounces
wikipedia on olympic pool
On the maximum side let us take gold being 1/4 of NZD $20 trillion or NZD $5,000,000,000,000 or NZD $5x10^12 (is NZD $5 trillion) and at NZD $2,000 an ounce of gold is 2.5 billion ounces or 77.7 billion grams of gold or 77.7 million kilograms or 77.7 thousand tonnes of gold. (1 metric tonne = 32,150.746 Troy ounces)
If gold per troy ounce in future is worth NZD $10,000 an ounce then 15,551 tonnes of gold is worth five trillion dollars.
If gold in future is worth NZD $20,000 an ounce then 7,775 tonnes of gold is worth five trillion dollars.
Gold in New Zealand has increased from USD $257 to USD $1909.62 or seven fold in a decade (2001-2011). In New Zealnd Dollars NZD $581.18 to peaking at $2,307 or four times. Note the Nz to USA exchange rate flucuates from 0.40 (Jan 2001) to 0.88 (July 2011) over this time. Gold from USD $257 (18 Jan 2001) to USD $1909.62 (23 Aug 2011) can be compared to 2004 0.6832 exchange rate high and gold USD $319.89 (3 March)low or NZD $468.22 per ounce of gold. With a high 0.7186 March 2011 and $1426.83 march 2011 of NSD $2000.60 March 2011 to climb to NZD $2300 by August five months later.
A tonne of gold is 1/19.3 of a cubic meter. In other words 20 tonne of gold is a cubic meter 1m x 1m x 1m minus 5%. 77,700 / 20 = 3,660 m^3. 15,551 / 20 = 777 m^3
So 777 m^3 to 3,660 cubic meters of gold (relates to $10,000 an ounce to $2,000 an ounce respectively as limits to fall within in math) or 9m x 9m x 9m to 19m x 19m x 19m gold block
This gold block is from 5% land above the water (nz) and 95% out to sea that is United Nations recognises as being New Zealand's territory.
All gold in the world ever taken out of ground in human history can fills two olympic size swimming pools (5,000 M^3) c.f. 777m^3 to 3,660 m^3 of gold in and around New Zealand.
Your double garage surface area, in a two story sized house, is the foot print, and height, of the block of gold from New Zealand worth NZD $5 trillion dollars.
Now assuming gold is 1/4 the value in a rising market and we can look to make the other $15 trillion from oil, coal, silver, rear earths, etc. The question becomes is the value of New Zealand Crown Minerals in the order of magnitude between NZD $1 trillion and $20 trillion. Per capita this is between NZD $1,000,000 and NZD $5,000,000.
One percent royalty is leaves 99% for competitive tender process. One percent is NZD $10,000 to $50,000 but our over seas debt is NZD $250 billion or $ 50,000 per capita. The present system does not even service our debt if we kept status quo. That is assuming we realize all the minerals. This matter needs more discussion. What if we suggest 1 percent goes to secure our debt and 99% goes in a sovereign fund for New Zealand. That would deliver $950,000 to $4,750,000 per man, women and child in New Zealand. Seems like a better way to proceed.
Rod Young
Sept 2011
ref wikipedia Gold
" A total of 165,000 tonnes of gold have been mined in human history, as of 2009.[1] This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8500 m3, or a cube 20.4 m on a side. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.[2]"
http://wiki.answers.com/Q/How_many_ounces_does_one_ton_of_gold_weigh
says:
Gold is measured in Troy ounces and 1 Troy ounce equals 1.0971428571
ounces.
1 metric tonne = 32,150.746 Troy ounces
1 long ton of 2240 lb (UK) = 32,666.667 Troy ounces
1 short ton of 2000lb (US) = 29,166.667 Troy ounces
wikipedia on olympic pool
| Length | 50 m (164 ft) |
| Width | 25 m (82 ft) |
| Number of lanes | 10 |
| Lane width | 2.5 m (8 ft 2 in) |
| Water temperature | 25–28 °C (77–82 °F) |
| Light intensity | minimum 1500 lux (140 foot-candles) |
| Depth | minimum 2.0 m (6 ft 7 in) |
| Volume | minimum 2,500 m3 (88,000 cu ft) or 2,500,000 L (550,000 imp gal; 660,000 US gal), depending on depth |
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