Mining Company Welcomes Record Price For Gold

Mining Company Welcomes Record Price For Gold

Tuesday, January 08, 2008 at 14:50

A surge in the price of gold today may mean good things for northern Saskatchewan residents.

Gold has hit an all time high above $875 U.S. an ounce earlier today — topping the previous mark of $875 set back in 1980.

Rodney Orr, the president of Golden Band Resources, says the timing is perfect.

Orr notes his firm has a mill and 10 gold deposits north of La Ronge –- four of which the company hopes to mine in the near future.

His company already has agreements in place to hire members of the Lac La Ronge Indian Band for the work.

He says the high prices will have his company developing the La Ronge gold belt further, and the future is only looking brighter.

According to Orr, many economists say that the price of gold will continue to soar — and some predict it may reach up to $1,000 U.S. an ounce.