Gold spills on Russian runway after plane door glitch

[Outlaw]

Three. Fucking. Tons.

$368 Million dollars.

https://www.cnbc.com/2018/03/15/gold-spills-on-russian-runway-after-plane-door-glitch.html

Russian news reports say the hatch of a cargo plane carrying precious metals accidentally flew open upon takeoff — scattering at least 3 tons of gold on the runway.

An investigation is underway after the incident Thursday at the airport in the far east city of Yakutsk, according to the Tass news agency.

An An-12 plane operated by the airline Nimbus took off for Krasnoyarsk carrying 9.3 tons of gold and other precious metals, according to a statement from the state Investigative Committee quoted by Tass. Damage to a door handle caused it to fly open and spill some of the metal.

Authorities recovered 172 gold bars weighing 3.4 tons, Tass quoted Interior Ministry officials as saying.

No one was hurt in the incident. Images circulating on social media showed gold bars scattered across a runway.

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[boostedguy05]

shit, bitches better get all my gold back!

 

[VenomousDSG]

Damn! Not quite close to 368 million if it's 3.4 tons, but it's a lot.

 

[Outlaw]

Damn! Not quite close to 368 million if it's 3.4 tons, but it's a lot.

Admittedly I was lazy and just used their figures lol

 

[VenomousDSG]

Admittedly I was lazy and just used their figures lol

I'm a finance geek so it just stood out to me immediately.

An ounce of gold is going for about $1316 at the moment on the spot market. 3.4 tons is 6800 pounds, 16 ounces in a pound.

16x6800 = 108,800

108,800x$1316 = 143 million and change.

 

[Flyn]

I want that gold.

I'm sure you guys were thinking the same thing. :smile:

 

[ChiLAX]

Just in time for St Patrick's Day.

 

[sickmint79]

I'm a finance geek so it just stood out to me immediately.

An ounce of gold is going for about $1316 at the moment on the spot market. 3.4 tons is 6800 pounds, 16 ounces in a pound.

16x6800 = 108,800

108,800x$1316 = 143 million and change.

there are 14.583 troy ounces in a pound.

gold is measured in troy ounces, of which there are 12 in a troy pound.

the 368 million is a misread as that is not just for the 3.4 ton cargo of gold, but the entire 9.3 tons of cargo, i believe.

a standard good for delivery gold bar is 400 troy ounces or 12.4 kg. (although there is a range.)

172 * 12.4 / 907.185 = 2.35 tons recovered by my math.
172 * 400 * 1316.80 = 90.6 million recovered.

hope the rest stayed in the plane for them...