Gold-mine spruiker gets record ban - Business - NZ Herald News

“A Nelson businessman who lost $4 million in a failed quest to open a gold-mine in Colombia has been banned from managing a company for a record 10 years.”

“Cottle founded Infratech days after emerging from bankruptcy in 2009. Pitch documents obtained by the Weekend Herald had Cottle claim the venture would produce returns of up to 1000 per cent by exploiting what he claimed were lucrative mining rights in South America.”

There is something about this industry, even at a hobby level that attracts these sorts of people, it’s always always always white blokes of about that age (not to paint anyone with a brush here, this isn’t the NZHerald) most look like they wouldn’t be able to find gold outside a shopping mall jewellery store and have lived an entire life without getting dirt under their nails.

1 Like

There is a LOT of gold in the north part of South America, but most of it is powdery. So requires open cast mining. Intensive & dirty.
Then there is accessing the remote jungle -filled with crime, wild animals including monster mosquitos that carry disease, corrupt officials, and poisonous plants. Easier to extract gold from a desalination plant - loads of gold in the ocean.