Gold nugget weighing 5.5 kg discovered in Australia

18 January 2013 Last updated at 07:16 ET Help

A prospector who found a gold nugget weighing 5.5kg (12lb) in the Australian town of Ballarat is said to be "very happy".

The find, which is 22cm long (8.7in), was handed to gold shop owner Cordell Kent to sell to the highest bidder.

He estimates the gold is worth more than 280,000 Australian dollars ($290,000; £180,000).

The man has decided to stay anonymous, but that has not stopped local residents from speculating on his identity.

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