Open-pit mining is a technique that is used by mining companies to extract large amounts of mineral rich materials from beneath the surface. It is a term that is used to differentiate the method of recovering precious metals, stones, and minerals from beneath the earth’s overburden.
Golden Touch Resources (GOT.V) is a company based out of Vancouver, British Columbia, with hopes to develop a number of open-pit mining sites to extract a recently discovered mineral rich area located in northern Albania for gold, chromite, and platinum group elements. The market timing in the hunt for gold, chromite, and platinum couldn’t be better. Gold is the precious metal we all have heard about with recent record breaking trading prices just under $1500 per ounce. Chromite, on the other hand, is the key ingredient in high grade and stainless steel. It is essentially the ingredient that gives the steel its shine. With an estimated net present value of over $200 million dollars’ worth of Chromite lying beneathGolden Touch Resources’ Albanian mining claims, this asset is one of the key factors to the company’s luster in today’s international mining markets. Continue reading