12-pound gold nugget found by amateur Prospector in Ballarat, Australia

By on Jan 18, 2013 in Amazing, Australia, Business, World Comments
12 pound gold nugget

Gold nugget
Image Credit: Wikipedia

A 12 pound gold nugget was reportedly unearthed by an anonymous amateur prospector near the area of Ballarat in Australia on Wednesday, January 17, 2013. The gold nugget is expected to fetch over $300,000.

Cordell Kent, owner of The Mining Exchange Gold Shop in Ballarat, revealed that the 5.5 kg gold nugget was discovered by the prospector using a metal detector. He however did not say the exact location where the gold nugget was found.

Kent revealed that he has been in the business for 20 years now and this find is one of the most significant.

Below is Kent‘s statement about the newly found 12-pound-gold nugget.

Over that period the sum total of my finds would be just over 100 ounces (2.8 kilograms).

We have 800 prospectors on our books and only a couple of those have ever found a nugget over 100 ounces.

So there’s only been one or two big pieces and they were found a long time ago.

Kent is reportedly seeking a buyer of the 12 pound gold nugget on behalf of the amateur prospector.

Prospecting reportedly became popular because gold is now valued around $1,600 per ounce. According to Kent,

A lot of people think Victoria’s goldfields are dead and that there’s none left, but he (the prospector) has worked in an area where a lot of people have worked in the past but he persisted and he’s been rewarded.

We are 162 years into the gold rush and it’s never totally waned, it’s just changed.

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