Asteroids are Where its At! MiningMaven explores the Final Frontier of Mining in Space
Contributor:
MiningMaven Editorial
Posted: 05/08/2012 12:00:00 AM EDT | 1
That Company was Planetary Resources Inc and it has its sights set on the stars - well asteroids actually.
According to the company, asteroids are where it's at. There are billions of them flying around in space and each one is jammed packed with precious resources - everything from water to platinum and all we need to do is reach up and catch them. And that is exactly what Planetary Resources have planned!
To see just how serious they are about this, you should check out the FAQ's section on their website here.
As investors in this sector we are used to putting up with more than our fair share of challenges. Most of us are also discerning enough to be able to evaluate risks and distinguish a serious investment proposition from a “pie in the sky” pipe dream.
Likewise one must sympathise with management of junior explorers in the current climate, trying to conserve cash or raise the odd few million pounds to progress their exploration projects up the value curve. Imagine then how they must feel when they learn that this company has received the backing of some of the richest and most influential people on the planet, including "Alien" Director James Cameron and Google billionaires Larry Page and Eric Schmidt. Surely, these hugely wealthy people must know what they are doing? Could this signal the end of the road for the terrestrial mining industry? Will Rio Tinto, BHP, ArcelorMittal and the like now drop their earthbound empires and head off into space?
I asked a Director of an AIM exploration company today what he thought of this venture. Was he worried by the competition this presented?? Would he perhaps consider looking for exploration opportunities in space now?? After all, given the billions (or quite possibly trillions) looking to be allocated to such projects in the future, he might find it easier to raise funds to build a gold processing plant on the moon with feedstock coming from Asteroid Nerreus 4660 (due to pass within 3.9m km of Earth in December 2021,returning again in February 2060), than for his current highly prospective exploration project somewhere on Earth? He suggested we should take his broker out for lunch next week and pitch the idea to him - he could really do with a good laugh right now!
In the prevailing gold bull market, it has not been unusual to see companies change their name to include the word “gold” or something that makes them easily associated with the commodity in favour. We will therefore be watching with keen interest to see if the word “space”, "moonbase" or “asteroid” pops up in any forthcoming Mining IPO’s. Then we will know the sector is really ready to take off!
Until then we will watch this "Space" (sorry!)
Posted: 05/08/2012 12:00:00 AM EDT | 1
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"“Non est ad astra mollis e terris via" ...
"There is no easy way from the earth to the stars” ? Seneca
It’s been a funny old week in the mining and exploration business. Whilst even the brightest stars in the junior exploration space struggle for
recognition in these unforgiving markets, last Tuesday a brand new super-wealthy mining exploration company launched itself to a blaze of global media publicity.
recognition in these unforgiving markets, last Tuesday a brand new super-wealthy mining exploration company launched itself to a blaze of global media publicity.That Company was Planetary Resources Inc and it has its sights set on the stars - well asteroids actually.
According to the company, asteroids are where it's at. There are billions of them flying around in space and each one is jammed packed with precious resources - everything from water to platinum and all we need to do is reach up and catch them. And that is exactly what Planetary Resources have planned!
To see just how serious they are about this, you should check out the FAQ's section on their website here.
As investors in this sector we are used to putting up with more than our fair share of challenges. Most of us are also discerning enough to be able to evaluate risks and distinguish a serious investment proposition from a “pie in the sky” pipe dream.
Likewise one must sympathise with management of junior explorers in the current climate, trying to conserve cash or raise the odd few million pounds to progress their exploration projects up the value curve. Imagine then how they must feel when they learn that this company has received the backing of some of the richest and most influential people on the planet, including "Alien" Director James Cameron and Google billionaires Larry Page and Eric Schmidt. Surely, these hugely wealthy people must know what they are doing? Could this signal the end of the road for the terrestrial mining industry? Will Rio Tinto, BHP, ArcelorMittal and the like now drop their earthbound empires and head off into space?
I asked a Director of an AIM exploration company today what he thought of this venture. Was he worried by the competition this presented?? Would he perhaps consider looking for exploration opportunities in space now?? After all, given the billions (or quite possibly trillions) looking to be allocated to such projects in the future, he might find it easier to raise funds to build a gold processing plant on the moon with feedstock coming from Asteroid Nerreus 4660 (due to pass within 3.9m km of Earth in December 2021,returning again in February 2060), than for his current highly prospective exploration project somewhere on Earth? He suggested we should take his broker out for lunch next week and pitch the idea to him - he could really do with a good laugh right now!
In the prevailing gold bull market, it has not been unusual to see companies change their name to include the word “gold” or something that makes them easily associated with the commodity in favour. We will therefore be watching with keen interest to see if the word “space”, "moonbase" or “asteroid” pops up in any forthcoming Mining IPO’s. Then we will know the sector is really ready to take off!
Until then we will watch this "Space" (sorry!)
This blog piece was originally published on MiningMaven's blog and is re-published here with permission.
If Mining in Space is an interest of yours - you can peruse Mining IQ's library of articles on this topic here: http://www.miningiq.com/search/space/
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It's hard to believe that asteroid mining could bring in more investment money than traditional junior mining companies but there is no end to what people will invest in.
http://www.mininguniversity.com/2012/04/asteroid-mining.html
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