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Friday, June 08, 2012 6:42:00 AM
Elko's economy is based on gold mining, ranching, and tourism. As of early 2009, Elko County had 26,700 jobs, up from 25,500 in 2008.
Elko is considered the capital of Nevada's goldbelt. The state of Nevada produces more gold than all but four countries, most of which is mined near Elko.
Nevada is the "Silver State" but apparently there's a lot of gold there too (and a lot of other minerals). I've been to Elko, it's a nice little town. If the price of gold continues as it has recently, i.e., unless there's a gold "bust," there will continue to be a large influx of new residents into Elko.
Building out the system as homes are built takes time, but it looks like Dan and team are laying the groundwork for a LOT of residual revenues in that area. I think in another year or two when the cable infrastructure is in place and "turned on" by thousands of new residents, WNRC will see a big time spike in numbers.
I'm no expert at any of this though, so I'm just guessing here, but remain confident that long term this is a more than safe place to park my money...and will continue to add small blocks of shares as funds allow.
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