Friday, January 25, 2008

Spike in gold prices draws prospectors

GIRDWOOD, Alaska - The snow is still knee-high along the banks of Crow Creek, where men are crouching up to their chests in near-freezing water, and the air is several degrees colder.

But for Mike Telgenhoff and his companions, this is a fine day to look for gold.

"We do real good in the wintertime because the creek's so low," said Telgenhoff, dressed in a sopping leather hat and drysuit. "I've made a lot of money at it, but I've spent a lot, too. You don't get rich doing this."

But with gold prices reaching an all-time high of $900 an ounce and the economy slumping, Alaska expects to see more and more people trekking to the edge of the continent in search of gold. . . .

Full story at: Link

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