More than 170 years after the first Australian gold rush, a new mining – and detecting – boom is kicking off in many parts of the country.
Soaring gold prices are behind the renewed interest in hunting the precious metal, with a near-record level of licenses granted this year.
The most recent data from the Australian Bureau of Statistics shows expenditure on gold exploration nationally was up more than 19% on the previous quarter.
And it is not the big mining companies who are looking to cash in on the opportunity.
Anecdotal evidence suggests that more grey nomads than ever are packing gold detectors and fossicking equipment in their rigs as they head out in search of adventure … and a fortune.
Earlier this year for example., Gympie Regional Council in Queensland, said applications for fossicking permits had increased by 40% during the pandemic
Local Mayor Glen Hartwig said the price of gold was the driving force.
“If you pull up 30 grams, it’s a good day away,” he said. “Not only are our own residents doing a bit more fossicking but there are the travellers that are coming through trying their luck as well.”
The price of gold set a new peak last year, hitting $US2075 an ounce, as investors rushed to gold as a safe haven to hedge against the volatility of the coronavirus crisis, and fears of inflation.
While the gold price has eased this year as economies gradually recover, it still hovers around $US1800 an ounce.
Grey nomads like Tony and Judy Sumner have made looking for gold a key part of their Big Lap adventures … and they’ve found quite a few decent nuggets along the way.
Their gold detective adventures began a decade ago, but Judy’s enthusiasm has never waned. She told the Grey Nomad Podcast about the unbridled excitement she felt when husband Tony returned to their van after one of his earliest detecting efforts … and revealed their very first piece of gold.
“He put his hand in his back pocket and he pulled out a 12-gram – we’re not talking ounces, we’re only talking grams – 12-gram nugget, and I looked and I knew straight away it was gold,” said Judy. “It was bright yellow, it was as heavy as anything, and I screamed that loud they would have heard me 20 kilometres away.”
To listen to the full podcast about gold detecting and gem seeking, click here.
It’s an excellent pastime for grey nomads if you have patience, don’t mind roughing it and being covered in dirt. Take the right safety gear. GPS, two way radio, first aid kid and of course food and water. You see animals, birds, insects and reptiles you wouldn’t ordinarily see. The scenery, sunsets and sunrises are often truly magic. My husband and I love our winters in the West Australian goldfields. We started with an organized tour 6 years ago. A great way to see if you like it before investing to heavily. Looking forward to 2022 season COVID permitting. Give it a go nothing to lose
Us prospectors or, trying to be prospectors, dont talk very much or give much away..
For me..I haven’t found much to give away..YET…!