The market price for gold on the stock market has now closed higher and a lot of diggers in Bougainville are buyer hungry.
Local boys who pan and dig for gold were in Buka town searching for buyers, some with up to 20 kilograms of gold in their possession.
But according to locals, the sad news is the market has been corrupted by crooks that are going around lying to people that the gold price is at around K150, K200 to K300 per gram.
The highest price right now for PNG is K116 per gram, but a lot of gold diggers are still reluctant to come out with their merchandise because of the bogus prices being imposed by individuals.
This reporter recently witnessed a gold bar weighing 18kg worth K1.8 million, but the owners wanted a K150 per gram price.
A gold digger who wishes to remain anonymous told Loop PNG that a lot of awareness is needed in order for people to understand the gold trade.
“A lot of us just know how to dig and pan for gold but we do not know the price listings on the stock market in London and New York,” he said.
“A lot of people are coming into Bougainville disguised as pastors, giving us bogus prices. Even in gold, you cannot be a millionaire overnight.
“This is really serious. Conmen are preventing licenced, honest buyers from coming into Bougainville and buying gold,” he said.