MTECHTIPS

MTECHTIPS:-Missing: A ship with 700 tons of Gold Ore off Russia

What will you do when you are a miner and your ship carrying 9 crew members and 700 tons of gold ore is missing? The authorities at Polymetal Corp are probably scratching their heads trying to make sense of the situation as gold worth $230,000 is lost, perhaps for ever even as news regarding the state of crew members is lacking.Each ton of gold ore loaded from the Polymetal International Plc owned mine can yield 6 grams of gold on an average. At current market rates, gold of that kind can earn you about $230K if analyst Sergey Donskoy at Societe Generale is right.“The dry-cargo freighter Amurskaya, operated by a company based in Nikolayevsk-on-Amur, went missing in the Okhotsk sea on Sunday. It had a nine-member crew on board, local prosecutors who are checking the case said in a statement.”