Did Uganda Discover $12 Trillion Worth of Gold?

Uganda recently reported that the country might be sitting on gold deposits worth over $12 trillion. If proven true, this would exceed the value of all the gold ever mined in the world throughout history. 

The world produces roughly 3,000 metric tons of gold annually. The Ugandan government has stated they could have about 320,000 metric tons of gold in the ground — a figure that, if mined, would dramatically increase the global supply of gold and potentially create downward pressure on its price. 

Aaron Hoddinott and Alexander Smith share their thoughts on this announcement, how difficult gold deposits can be to develop and economically mine, and how governments can negatively impact the value of gold deposits through resource nationalism. 

More information on Uganda's mineral-rich geology and historic gold production can be found here: https://bit.ly/3RiG8XY

Link to excerpt from Uganda's President speech:  https://www.youtube.com/watch?v=B6I4S...

Read Reuters' article regarding Uganda's announcement here: https://rb.gy/vwqu9v

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Disclaimer and Forward-Looking Statements:

THIS IS NOT INVESTMENT ADVICE. This video is intended for informational and entertainment purposes only. All statements in this video are to be checked and verified by the viewer. This video may contain technical or other inaccuracies, omissions, or errors, for which Maximus Strategic Consulting Inc. ("Maximus"), owner of PinnacleDigest.com, assumes no responsibility. 

Neither Aaron Hoddinott nor Alexander Smith are financial advisors. Before investing in any securities, you should consult with your financial advisor and a registered broker-dealer. Aaron Hoddinott and Alexander Smith ( the "Contributors") have made wrong predictions in the past, and they'll likely do it again. Never make an investment based solely on what you hear or see in this video. As with all investments, investors should carefully consider their investment objectives and risk tolerance before investing. Conduct your own thorough and independent due diligence to understand the risks associated with investing in any security.

All statements, other than statements of historical fact, that address activities, events or developments the Contributors expect or anticipate will or may occur in the future are forward-looking statements. Such forward-looking statements also include, but are not limited to, statements regarding: predictions for the future price of gold; future performance of gold mining stocks; government policy, including tax and royalty rates; economic activity; inflation; geopolitics; Uganda’s potential gold deposits, and other estimates or expectations.

Forward-looking statements are often, but not always identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "budget", "scheduled", and similar expressions. Much of this video is comprised of statements of projection. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. 

Maximus and the Contributors disclaim all liability for any loss that may arise (whether direct, indirect, consequential, incidental, punitive or otherwise) from any use of the information in this video. Information in this video has been obtained from sources believed to be reliable, but Maximus and the Contributors make no representation or warranty as to the accuracy, timeliness or completeness of the content in this video. Any opinion expressed in this video is subject to change without notice.