On 9 October 2009, the Lunar CRater Observation and Sensing Satellite (LCROSS) mission threw a heavy projectile to a shadowed crater on the moon while the thrower satellite stayed above to capture and analyse the plume and debris caused by the impact.
Report of that analysis now show that the Moon contains not only water but also other compounds including hydrocarbons, sulphur and carbon dioxide. Before that evidence, the moon was considered to be a dry satellite.
This finding is very interesting considering the fact that to bring 1 gallon of water from earth to the moon may be as costly as $100000. Also, with water present, the important fuel - Hydrogen can be made available, thus eventually making the moon with its lower gravity than earth an ideal launching ground for further less costly space exploration.
Now the race is becoming more interesting.. the Bush administration rightly planned to go for the moon first and then use it as a launching pad for further exploration to Mars. But the Obama administration had no choice than to scrap that plan due the unprecedented economic recession. Both were right but now with the new findings, my guess is that the Obama administration will reconsider their plan for the moon.
A good point to note is that we confirmed there is water on Mars well before confirming same on the moon in our own backyard. It's not surprising though considering all the investment made to explore Mars rather than the Moon. This too will change now.. there is still much to discover on our Moon
Some reports have already said that we may find gold, silver and mercury. It's just a matter of time now until we know more if ever there will be a gold mine there. :P
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