Mapped: The Geology of the Moon in Astronomical Detail
If you were to land on the Moon, where would you go?
Today’s post is the incredible Unified Geologic Map of the Moon from the USGS, which combines information from six regional lunar maps created during the Apollo era, as well as recent spacecraft observations.
Feet on the Ground, Head in the Sky
Since the beginning of humankind, the Moon has captured our collective imagination. It is one of the few celestial bodies visible to the naked eye from Earth. Over time different cultures wrapped the Moon in their own myths. To the Egyptians it was the god Thoth, to the Greeks, the goddess Artemis, and to the Hindus, Chandra.
Thoth was portrayed as a wise counselor who solved disputes and invented writing and the 365-day calendar. A headdress with a lunar disk sitting atop a crescent moon denoted Thoth as the arbiter of times and seasons.
Artemis was the twin sister of the sun god Apollo, and in Greek mythology she presided over childbirth, fertility, and the hunt. Just like her brother that illuminated the day, she was referred to as the torch bringer during the dark of night.
Chandra means the “Moon” in Sanskrit, Hindi, and other Indian languages. According to one Hindu legend, Ganesha—an elephant-headed deity—was returning home on a full moon night after a feast. On the journey, a snake crossed his pathway, frightening his horse. An overstuffed Ganesha fell to the ground on his stomach, vomiting out his dinner. On observing this, Chandra laughed, causing Ganesha to lose his temper. He broke off one of his tusks and hurled it toward the Moon, cursing him so that he would never be whole again. This legend describes the Moon’s waxing and waning including the big crater on the Moon, visible from Earth.
Such lunar myths have waned as technology has evolved, removing the mystery of the Moon but also opening up scientific debate.
Celestial Evolution: Two Theories
The pot marks on the Moon can be easily seen from the Earth’s surface with the naked eye, and it has led to numerous theories as to the history of the Moon. Recent scientific study brings forward two primary ideas.
One opinion of those who have studied the Moon is that it was once a liquid mass, and that its craters represent widespread and prolonged volcanic activity, when the gases and lava of the heated interior exploded to the surface.
However, there is another explanation for these lunar craters. According to G. K. Gilbert, of the USGS, the Moon was formed by the joining of a ring of meteorites which once encircled the Earth, and after the formation of the lunar sphere, the impact of meteors produced “craters” instead of arising from volcanic activity.
Either way, mapping the current contours of the lunar landscape will guide future human missions to the Moon by revealing regions that may be rich in useful resources or areas that need more detailed mapping to land a spacecraft safely .
Lay of the Land: Reading the Contours of the Moon
This map is a 1:5,000,000-scale geologic map built from six separate digital maps. The goal was to create a resource for science research and analysis to support future geologic mapping efforts.
Mapping purposes divide the Moon into the near side and far side. The far side of the Moon is the side that always faces away from the Earth, while the near side faces towards the Earth.
The most visible topographic feature is the giant far side South Pole-Aitken basin, which possesses the lowest elevations of the Moon. The highest elevations are found just to the northeast of this basin. Other large impact basins, such as the Maria Imbrium, Serenitatis, Crisium, Smythii, and Orientale, also have low elevations and elevated rims.
The colors on the map help to define regional features while also highlighting consistent patterns across the lunar surface. Each one of these regions hosts the potential for resources.
Only further study will resolve the evolution of the Moon, but it is clear that there are resources earthlings can exploit. Hydrogen, oxygen, silicon, iron, magnesium, calcium, aluminum, manganese, and titanium are some of the metals and minerals on the Moon.
Interestingly, oxygen is the most abundant element on the Moon. It’s a primary component found in rocks, and this oxygen can be converted to a breathable gas with current technology. A more practical question would be how to best power this process.
Lunar soil is the easiest to mine, it can provide protection from radiation and meteoroids as material for construction. Ice can provide water for radiation shielding, life support, oxygen, and rocket propellant feed stock. Compounds from permanently shadowed craters could provide methane, ammonia, carbon dioxide, and carbon monoxide.
This is just the beginning—as more missions are sent to the Moon, there is more to discover.
Space Faring Humans
NASA plans to land astronauts—one female, one male—to the Moon by 2024 as part of the Artemis 3 mission, and after that, about once each year. It’s the beginning of an unfulfilled promise to make humans a space-faring civilization.
The Moon is just the beginning…the skills learned to map Near-Earth Objects will be the foundation for further exploration and discovery of the universe.
How to Avoid Common Mistakes With Mining Stocks (Part 3: Jurisdiction)
“Location, location, location…”
This famous real estate adage also matters in mining. After all, it’s an industry that is all about the geology—but beyond the physical aspects and the location of a mineral deposit, there are also social and environmental factors that create a mining jurisdiction.
Common Mistakes With Jurisdiction
We’ve partnered with Eclipse Gold Mining on an infographic series to show you how to avoid common mistakes when evaluating and investing in mining exploration stocks.
Part 3 of the series focuses on six signals investors can use to gauge a company’s preparedness for the jurisdictions they operate in.
#1: Geological Potential: Methodical Prospecting or Wild Goose Chase?
It all starts with a great drill result, but even these can be “one-off” anomalies.
Mineral exploration is a methodical process of drawing a subsurface picture with the tip of a drill bit. A mineral discovery is the cumulative effort of years of research and drilling.
The key to reducing this geological risk is to find a setting that has shown previous potential and committing to it. Typically, a region is known to have hosted other great discoveries or shares a geology similar to other mining districts.
Signs of Methodical Prospecting:
- Lots of geological indicators
- Potential for further discovery
- Sound science
#2: Legal Environment: Well-Paved Path or Minotaur’s Maze?
Now that you have identified a region with the prospective geology you think could host a discovery, a company will have to secure the permits to explore and operate any further.
However, a management team that cannot navigate a country’s bureaucracy will face delays and obstacles, costing investors both time and money.
Without clear laws and competent management, a mining company’s best laid plans become lost in a maze with legal monsters around every legal corner.
Signs of a Well-Paved Highway:
- Existing laws encourage mining investment
- Relatively low bureaucracy
- Well-established permitting process
- Legacy of mining contributing to economy
#3: Politics: Professional Politics or Banana Republics?
A good legal framework is often the outcome of politics and stable governance—however so is a difficult legal framework.
The political stability of a nation can turn on one election and so can the prospects for developing a mine. An anti-mining leader can halt a mining project, or a pro-mining leader can usher forward one.
A positive national viewpoint on mining may be enough to lure investment dollars, but local politics may determine the success of a mining company.
Signs of Professional Politics:
- Positive history with mining companies
- Politically stable jurisdiction
- Rule of law respected
- Changes in government have little effect on the mining industry
#4: Infrastructure & Labor: Modern or Medieval
Sometimes it is the discovery of valuable minerals that spurs national development, but this can also happen the other way around, in which development can encourage mineral discovery.
A mining company looking to build a new mine in a country with a tradition of mining will have an easier time. Access or lack thereof to modern machinery and trained employees will determine how much money will be needed.
That said, if a company is looking to develop a mining project in a new mining region, they must be ready to help create the skills and infrastructure it needs to mine.
Signs of a Modern Jurisdiction:
- Developed roads to access and support operations
- Trained labor for staffing and development
- Well-established grid lines and back-up power systems
#5: Community: Fostering Friendship or Sowing Enemies
Mining operations have a significant impact on the local community. Good companies look to make mutually beneficial partnerships of equals with local communities.
Ignoring or failing to respect the local community will jeopardize a mining project at every stage of its mine life. A local community that does not want mining to occur will oppose even the best laid plans.
Signs of a Friendly Relations:
- Operations bring community together
- Local history shows support for mining
- Understanding of local concerns and regional variety
- Company contributes to economic growth and health of the community
#6: Environment: Clean Campsite or One Night Party
There is no way around it: mining impacts the environment and local ecosystems. But, mining operations are a blip on the radar when it comes to Earth’s timeline.
Mine sites can again become productive ecosystems, if a company has the capacity and plan to mitigate mining’s impacts at every stage of the life of a mine—even beyond the life of a mine.
Signs of a Clean Campsite:
- Development plan mitigates environmental damage
- Well-planned closure and remediation
- Understand how communities use their environment
Bringing it together: ESG Investing
These six points outlined above point towards a more complete picture of the impacts of a mining project. Currently, this falls under what is labeled as Environmental, Social and Governance “ESG” standards.
Mining companies are the forefront of a big push to adopt these types of considerations into their business, because they directly affect natural and human environments.
ESG is no longer green wash, especially for the mining industry. Companies that understand and apply these concepts in their business will have better outcomes in the jurisdictions they operate within, hopefully offering investors a more successful venture.
Geology does not change on the human time scale, but bad management can quickly lose a good project and investor’s money if they do not pay attention to the other attributes of a jurisdiction.
Silver Bulls: Visualizing the Price of Silver
Silver has always proved its value throughout history. From ancient coins to jewelry, silver retains its value and goes through tough times.
Silver Bulls: Visualizing the Price of Silver
Silver has always shown its value throughout history. From ancient coins to its use as a global currency during the Age of Discovery, silver has circulated the world to become an important financial asset. Its value continues to shine in the era of the modern finance industry.
Today’s infographic comes to us from New Pacific Metals and it takes a look at the bull markets in silver prices and the future of silver.
Silver Bulls: 1967 to Today
The late 1960s marked the beginning of the end for silver as currency, but also the start of its use in protecting and securing wealth.
In the United States, silver certificates were issued by the Treasury until late 1963, when the $1 Federal Reserve Note was released into circulation. After this, the remaining silver certificates were still redeemable for silver, but this practice ended in 1968.
Since then, silver has had several bull markets in which prices have increased—or as some silver aficionados may argue, the relative value of fiat currency has decreased.
|Percentage Gain||Price Range (USD)*||Duration|
|Silver Bull #1 (1967-68)||49%||$12.50 - $18.58||13 months|
|Silver Bull #2 (1971-74)||274%||$8.45 - $31.59||27 months|
|Silver Bull #3 (1976-80)||544%||$18.40 - $118.50||48 months|
|Silver Bull #4 (1986-87)||40%||$12.47 - $17.48||12 months|
|Silver Bull #5 (1993-95)||39%||$6.47 - $9.00||27 months|
|Silver Bull #6 (2001-11)||827%||$6.01 - $55.69||113 months|
|Silver Bull #7 (2015-Present?)||90%||$15.04 - $28.53||56 months|
*Inflation-adjusted data using CPI from BLS, LBMA Monthly prices
That said, not all silver bull markets are the same, nor do they necessarily coincide with bull markets in the price of gold.
Performance: Gold vs. Silver
Despite being often referred to as “poor man’s gold”, silver has actually outperformed gold in five of the six previous bull markets for gold and silver.
There are two ways to look at how silver prices performed during these timeframes:
- We can compare silver price performance to corresponding peaks and troughs of the gold price
- We can also look at silver prices based on its own peaks and troughs, irrespective of gold
Often, gold prices move first with silver prices quickly following—but then, silver can outperform gold on its own timeline.
|Gold Performance||Silver Performance||Silver Performance|
|Based on gold's peaks and troughs||Based on silver's peaks and troughs|
|Silver Bull #1||40%||-17%||100%|
|Silver Bull #2||455%||144%||432%|
|Silver Bull #3||715%||912%||977%|
|Silver Bull #4||78%||27%||94%|
|Silver Bull #5||28%||63%||75%|
|Silver Bull #6:||636%||904%||45%|
Source: CPM Group (Nominal data)
More recently, prices of silver have been on an upward trend since 2015 and some would say we are in a new bull market for the precious metal. For however longer, it is anyone’s guess.
The Future of Silver?
While the future price direction of silver is difficult to predict, this doesn’t diminish the increasing importance of silver’s role as a metal in an electrified future.
As you can see in the demand breakdown below, silver is not only precious—it is useful:
|Silver Demand (2019)||Millions of Ounces|
|...of which Photovoltaics||98.7|
|Net Physical Investment||186.1|
Source: Silver Institute
While silver’s uses and applications continue to grow, silver remains a safe haven investment from political uncertainty and economic distress—all while being a cheaper and better alternative to gold.
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