>> GRASS VALLEY IN THE SIERRA
FOOTHILLS OF NORTHERN
CALIFORNIA IS A VACATION
DESTINATION. THE GATEWAY TO
TAHOE IN THE YUBA RIVER. BUT
ITS HISTORY AS A GOLD TOWN IS
NOW BACK AN HISTORIC MINE IS
NOW ON THE VERGE OF REOPENING
PENDING COUNTY APPROVAL OVER
THE OBJECTION OF MANY LOCAL
RESIDENTS AND BUSINESSES.
>> WHAT'S YOUR GOAL.
RECREATION. HOW ABOUT TOURISM?
BECAUSE OUR ECONOMY RELIES ON
TOURISM YEAH. WHAT'S YOURS
THERE CLEAN AIR.
>> WHO'S GOING TO WANT TO COME
TO AN INDUSTRIAL MINING TOWN
COVERED IN DUST AND TRAFFIC
AND SMOKE AND NOISE.
>> TONY LORI, US HOUSE OF 32
YEARS SINCE A LITTLE OVER A
MILE FROM THE MINE ENTRANCE ON
SOME OF THE 2800 ACRES OF MIND
A LAND. HE SAYS MINING
ACTIVITY COULD DRAIN OR
CONTAMINATE AS WELL. WATER.
>> EVERYBODY THAT DRIVES IN
SAYS, WOW. WHAT AN OASIS. YOU
HAVE HERE AND IT IS IN A WAY
SOME IN THE WATER IS THE
CENTRAL FEATURE WE HAVE BEEN
FANTASTIC. WELL, WE HAVE 60 ON
MINUTE FLOW FROM THAT. WELL,
IF OUR HOME LOST ITS WELL,
THEN OUR HOME VALUE WOULD ZIP
BECAUSE IT'S NOT JUST
PROVIDING THIS BEAUTIFUL WATER
RECEDE. HERE IS YOUR DRINKING
WATER AND IRRIGATION WATER
THAT EVERYTHING. YEAH.
>> YEAH. IT'S EVERYTHING FOR
US. THE MINE CLOSED IN 1956
AFTER A STRING OF US
GOVERNMENT DECISION SET THE
PRICE OF GOLD AT $35. AN OUNCE
MAKING DIGGING IT OUT OF THE
GROUND ON PROFITABLE NOW RISE
GOAL LED BY CEO BEN MOSMAN HAS
BOUGHT THE MINE AND SEES
ENORMOUS POTENTIAL. SO THIS IS
THE MAIN VERTICAL SHOT.
>> SO IF YOU OPENED UP THIS
PLACE, WHAT WE LOOKED THAT
GOES DOWN 3,000, 400 AND USE
THE SHAFT TO ACCESS THE MINE.
ON THE ONE HAND, THIS STUFF IS
THE REGIONAL CRYPTOCURRENCY.
IT'S NOT REALLY WORTH ANYTHING
EXCEPT THAT WE ARE ALL WILLING
TO PAY A CERTAIN AMOUNT FOR
IT.
>> BUT HOW MUCH WE PAY FOR
THINK ABOUT IT THIS WAY. THE
VALUE OF GOLD RIGHT NOW IS
PUSHING ABOUT $2000 AN OUNCE.
AND I'M I'M JUST LIKE THIS ONE
RIGHT HERE IN THIS REGION.
PRODUCED ABOUT 6 MILLION
OUNCES OF GOLD.
>> MY MOUTH, RIGHT. WE'RE
TALKING 12 BILLION DOLLARS
YES, AND THERE'S, YOU KNOW, WE
HAVEN'T DONE ENOUGH DRILLING
TO KNOW HOW MUCH SCHOOL COULD
BE DOWN THERE. EVEN SPECULATE
THAT THERE COULD BE AS THESE
AS MUCH GOLD AND THIS DEPOSIT
AS THE JASON. SO SIGNIFICANT
AMOUNT OF GOALS AND A
SIGNIFICANT AMOUNT OF MONEY.
YOU'LL HAVE TO DRAIN A HUGE
AMOUNT OF WATER OUT OF THE
MINE. WILL THAT AFFECT THE
WATER SUPPLY OF PEOPLE WHO
LIVE IN THIS AREA AND DEPEND
ON WELL WATER, FRIENDS, NO.
THE COUNTY SOUND THAT UP TO 7
WELLS MAY BE AFFECTED. AND SO
ALL OF THOSE TO HAVE A WATER
SUPPLY FILTH FEEL FOR THEM FOR
THEM. NO CHARGE.
>> THE COMPANY SAYS WILL
CREATE MORE THAN 300 JOBS THAT
PAY TWICE THE LOCAL AVERAGE
AND THAT THE MINE IS SOLID
ROCK WITH LITTLE RISK OF
GETTING OFF DANGEROUS WASTE.
BUT SOME LOCAL SAY IT IS NOT
WORTH GOING BACK TO GOLD. WE
HAVE A VERY SUCCESSFUL ECONOMY
WITH ALMOST 0 MINING.
>> IT REALLY IS BASED ON A
TOURISM PROFESSIONAL SERVICES
FOR SENIORS AND EDUCATION.
>> AND FOR SOME LIKE LOCAL
TRIBES, THE INDUSTRY
REPRESENTS A PAINFUL PAST.
>> YOU CAN SEE THE DESTRUCTION
FROM THE REGIONAL GOLD RUSH
FROM SPACE SIKES CAR THE YEARS
IT REMOVED OUR PEOPLE IT'S A
97 TO 98% LOSS OF NISSAN
PEOPLE THEY WERE IN SLAVE IF
NOT KILLED. SO TO TALK ABOUT
REOPENING IN EVERYTHING'S
GOING TO BE FINE IS JUST
COMPLETELY ABSURD FROM OUR
PERSPECTIVE.
>> MOST OF EARTH'S GOLD IS
ALREADY MIND. MEANING THIS
TOWN IS PROBABLY ONE OF THE
LAST IN THE U.S. TO EVER WAY
REVIVING THE INDUSTRY THAT
FIRST PUT IT ON THE MAP.
>> AND JAY JOINS ME LIVE NOW.
SO DID YOU CALL GOLD THE
ORIGINAL CRYPTOCURRENCY FOR
VIEWERS WHO DON'T KNOW HOW
GOLD PRICES MOVE. COULD YOU
GIVE THEM SOME OF THE BASICS.
>> WELL, REALLY WHAT IT IS IS
AN EXACT PARALLEL OF THAT SORT
OF CRYPTO FEVER. IT REALLY
JUST HAS TO DO WITH HOW MUCH
PEOPLE ARE WILLING TO PAY FOR
IT OUT. WHEN YOU REALLY THINK
ABOUT IT, WHAT IS GOLD FOR,
RIGHT? THERE ARE SOME
INDUSTRIAL APPLICATIONS FOR
IT. BUT FOR THE MOST PART,
MOST OF THE GOLD IN THE WORLD
IS HELD IN THE VAULTS OF
CENTRAL BANKS AS A SORT OF
BACKING TO CURRENCY. AND SO
IT'S JUST THAT IT'S SHINY. IT
DOESN'T TARNISH ITS RARE.
THAT'S PART OF WHY IT IS
VALUABLE. NOW, OF COURSE IT
IS, YOU KNOW, EXPONENTIALLY
MORE VALUABLE THAN IT WAS BACK
WHEN THE U.S. SAID ITS PRICE
AND THAT'S WHY, OF COURSE,
THIS COMPANIES COMING BACK.
BUT IT IS SO STRANGE TO BE
HERE IN THE 21ST CENTURY. SEE
A SMALL TOWN. THAT'S WHAT
WE'RE GOING BACK TO THE 19TH
CENTURY TO TRY TO MAKE SOME
MONEY. THAT IT DOWN. ALI IS
FEELS LIKE A THROWBACK. JAKE, THANKS SO MUCH. ALWAYS GOOD TO
THANKS SO MUCH. ALWAYS GOOD TO