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Happy Easter every Body at the Original Sixteen to One, Inc.
I’ve noticed that picture of the “Whopper” is no longer displayed, this makes me wonder that maybe it has been sold. Just the picture of that monster is a thing of beauty to behold.
Public sector jobs, are like a temporary salvation to jump start the economy. It was these type of jobs that salvaged America from the great depression. World War II was mostly public sector jobs. With most men in uniform, and the nations industrial complex building the weapons of defense.
After the war we continued with the building the nations infrastructure. Public works has always been a resource for jobs.
The reason we were able to do this is the private economy of our nation was creating wealth through export sales to foreign lands, and building trade. We were the major world resource for agriculture products. To day economic development is more highly competitive through out the world. Natural resources are becoming more rare with higher demand, so it is the supply and demand that will drive the financial wealth of our nation.Thank you Gordon. I was waiting for the “and more”. It is not a simple answer. By law a hoist must be cut at both ends every six months. This waste needs to be calculated as well. Technical decisions are reasons why mining engineers are nice to have around. I always liked to work with the Sixteen to One geologists and engineers. There is a difference in how they think.
Mike,
To play fair you need to include a bit more information.
What kind of hoist?
What size of drum(s)?
What kind of drum(s)?
What size of rope?
What kind of rope?
How many wraps do you want left on the drum or what is the expected life of the rope?
How is it secured to the skip?
Is the 277 ft the full vertical length to be hoisted or the vertical distance between the lowest level and the tip pocket?
And more?Native American Saltwork
December 14, 2009 | USGS“Native Americans of the Miwok tribe in the northern Sierra Nevada, California carved basins into granite bedrock to produce salt for trade. They filled the basins with water from a salt spring and let the water evaporate, leaving a salt residue in the basin.” USGS reports that this is the oldest evidence of business in North America.
______________________________________Too bad the malfuntioning Water Board appointees weren’t in service back then. Can you imagine how the local Indians would have handled them? Messing with mother nature’s will along with a self fulfilling rules book could have easily caused them to be the target for a few arrowheads.
The following is from the opening scene of an X-Files show and spoken by an actor portraying a Navajo Indian.
“There is an ancient Indian saying that something lives only as long as the last person who remembers it.
My people have come to trust memory over history.
Memory like fire is radiant and immutable while history serves only those who seek to control it.
Those who would dose the flame of memory in order to put out the dangerous fire of truth, beware of these men for they are dangerous themselves and unwise.
Their false history is written in the blood of those that might remember it and of those who seek the truth.”
Another torpedo, capital controls hidden in a stimulus bill. The following is from today’s the Casey Dispatch:
Capital Controls Are Here?
Two days ago over at zerohedge.com, they ran a story titled “It’s Official – America Now Enforces Capital Controls.” Here’s the story’s lead-in:It couldn’t have happened to a nicer country. On March 18, with very little pomp and circumstance, President Obama passed the most recent stimulus act, the $17.5 billion Hiring Incentives to Restore Employment Act (H.R. 2487), brilliantly goalseeked by the administration’s millionaire cronies to abbreviate as HIRE. As it was merely the latest in an endless stream of acts destined to expand the government payroll to infinity, nobody cared about it, or actually read it. Because if anyone had read it, the act would have been known as the Capital Controls Act, as one of the lesser, but infinitely more important provisions on page 27, known as Offset Provisions – Subtitle A – Foreign Account Tax Compliance, institutes just that. In brief, the Provision requires that foreign banks not only withhold 30% of all outgoing capital flows (likely remitting the collection promptly back to the U.S. Treasury), but also disclose the full details of non-exempt account-holders to the U.S. and the IRS. And should this provision be deemed illegal by a given foreign nation’s domestic laws (think Switzerland), well the foreign financial institution is required to close the account. It’s the law. If you thought you could move your capital to the non-sequestration safety of non-U.S. financial institutions, sorry you lose – the law now says so. Capital Controls are now here and are now fully enforced by the law.
After reading through the “Hiring Incentives to Restore Employment Act,” which is actually H.R. 2847, not H.R. 2487 as indicated above, the assessment by zerohedge.com appears to be accurate. Sure there are those who will say that this bill is about “cutting down on tax evasion” not “capital controls,” but I think that’s naïve. Even so, I encourage you to read the entire piece by zerohedge.com (link here) and all 48 pages of the HIRE Act (link here) so you can decide for yourself.
______________________________One wonders, when will a flashpoint of significance send the message that enough is enough?
Everyone, read Bluejay’s words below.
My immediate comment is exactly what I wrote yesterday under the topic ‘Which Came First….’ (read that, it’s crucial.)
While voting is still legal, our duty and recourse and mandate is to kick these effers out.
Anyone who uses their political power to appoint effers to do their dirty work needs to go. The ‘president’ uses Czars, appointments void of validation with a vote. HOW IS THAT POSSIBLE????
They will only leave when we vote them out, or their Unconstitutional mandates are heard in front of the US Supreme Court. Which, is only going to happen if someone with BALLS and/or a WOMB take it there.
There will be court-fights, lawsuits, revenge appeals, all dependent upon whom they’ve managed to place into power on the bench. We’ve seen this first hand in the 3rd Circus Court, and in the 9th Circus Court, and we are on the precipice of tyrrany if the balance of decision, if mandated-policy-purchased-power-appointed-justices trump true Constitutional content in lieu of their contracted decisions.
Supreme Court balance is crucial. We already have a history of politically-motivated “justices” finding words and meaning in OUR CONSTITUTION that they have decided should be there, but ARE NOT, and their political decisions establish rule from the bench.
Any and all of us reading this: we are speaking to ourselves on this tiny tiny tiny forum, as good as it is, but there is a far larger mind that needs to hear from us. We are sharing like-minded ideas with each other while we need to expand our message, outside of the box.
Copy and paste this into any and all blogs you can.
VOTE!!! Speak, write, share, tell, always the truth.
Sevicing debt in these times is a real killer.
Not only does paying the debt charge shrink consumer demand for goods and services which is counterproductive to economic growth, now it appears that Ford is experiencing problems handling their debt obligations. The sad truth is that China is flipping our IOU’s for hard goods as is exemplified by the follow news headline:
Chinese Car Maker Buys Volvo From Ford For $1.8 Billion
The trend is well established for the great American wealth shakedown along with expected future reduced living standards. The reversal trend started with the encouragement from Alan Greenspan to start using our profits in real estate as our own personal ATM machine. Were Americans taking money from their apparent profits or were they just piling on the debt? Well, I think we all know the ugly truth.
What happened in the housing market was no different that what happened in the silver market in the late 1970’s. As silver advanced there was more available cash in the accounts of Comex silver investors to either take out lowering their cushion of margin safety or leveraging up with more debt obligations. In many cases they took money out or just, leveraged up. The collapse in prices soon followed with devastating losses to the longs.
Although the Hunts were responsible for the majority increase in silver prices, it was the public and other international interests that took it up to its final high at $50 an ounce from about $35 with their buying rout. The Hunts began their silver buying program well below $5 an ounce. It was never the intentions of them to corner the silver market, the market just could not absorb the money that they wanted to commit to it. The justification for the Hunt’s buying program was that they wanted to exchange their dollars for the real McCoy and thought silver undervalued. They were worried the fiat money system was about ready to come apart at its seams.
Fortunes were lost overnight in the silver market due to excessive speculation that was fostered by debt and greed, same as those that busted the housing market. Looking back at home prices, we depended upon on our leaders and got bad advice. Alan Greenspan is the person you blame for your financial ills if you have them. Not only did he encourage us to pile on the debt, he increased the money supply that helped foster the run-away top that imploded the bubble. Excess money created by the Fed, will sooner or later, create all types of bubbles. The grand-daddy of all bubbles is just waiting to happen, hyperinflation.
Now we have another destroyer of our wealth at the helm of the Fed, Ben Bernanke. Bernanke convinced the uneducated House of Representatives, with the aid from Mr. Conflict of Interest, Hank Paulson, to hand over billions of dollars to the irresponsible bank speculators in preventing a Depression. What a farce! According to Martin Armstrong, IT IS THE DEFAULT OF DEBT THAT CAUSES DEPRESSIONS.
The Depression that is coming to California, or is here already, will take down the State and dismandle many agencies in their desperate attempt to save themselves. Hopefully, the Central Water District will be one of those agencies eliminated.
The financial condition of California is more dire than is being reported. The Muni-bond market is in shambles. If you own Municipal bonds just try and sell them. You will end up selling the bonds for a shocking price compared to what your broker is telling you they are worth on your monthly statements. In some cases, there just aren’t any bids, no buyers.
The State has been ruined by professional politicians. When State revenues didn’t justify their salaries, they just went out and borrowed the funds against our future. As the government expanded more and more by the creation of all these extra agencies and support staff, so to, were they setting us up to be ripped off once their revenues dried up, which they have. The bottome line is: These guys are just not that smart and now we have to pay the cost of their inflated egos.
The debt factor is the key, whether it be housing prices, past silver prices or the activities of irresponsible politicians. A question that comes to mind is, why do the major cities of California have Ethics Commissions to oversee the behavior of their employees while not one can be located for the hired hands of the State?
Yes, debt is the real wealth killer along with being the breeding ground of Depressions. Heaven help us all when State officials come knocking with their new expected laws of embezzlement to cover-up their own egegious financial acts.
The one thing feared by them the most is our right to fire them with our vote. No matter what comes out of their pie-holes, give them all their pink slips when it is our turn.
Mike, using the formula for a right triangle, it would take 460.27 feet of cable on a line of 37 degrees to a depth of 277 feet. Of course, I would go with a full drum of cable and then these numbers wouldn’t matter.
Exposure is the Topic I chose over a new topic called, “Plan to Mine”. Exposure houses some emtries to savor. It lives on.
Planning To Mine. Oh, sixteen to one mine, the phoenix of gold.
Planning To Mine. Here is a question that needs an answer.If the elevation change is 277 feet vertical, how many feet of cable is necessary to operate a hoist, considering the dip of the winze averages 37 degrees?
Please enter an answer and explanation if necessary. All support will be valuable. There are underground variables you may wish to include.
Just finished reading Greg Hunter’s report from usawatchdog.com concerning the Social Security System that was available tonight on http://www.jsmineset.com.
I must have been watching gold and the charts for too long, as I choked on what I read.
Now, I completely understand what Marc Faber meant when he recently stated, “we are all doomed.”
One thing I figured out is that when I first started contributing to Social Security in 1962 while working for E.F. Hutton in my first year of college gold was $50 an ounce.
Today, Gold is over $1,100 and and the purchasing power of my then submitted payments over the years has shrunk to about 25% of what they can buy today which is reflected by my $1,100 plus monthly check.
This report or another report on Greg’s website mentioned that the government took $2.5 trillion from the surplus account of the Social Security to hide federal deficits and never paid it back .
So, 75% of some people’s original funds submitted have been compromised. The obvious winners on the other side have been the government and the Fed. When buying power disappears these two entities are the benefactors.
This is what a fiat system is all about, to prey on the people.
Here’s a little easy dose of inflation that’s easy to understand: A pre-1965 silver 10 cent dime with its 90% silver content is worth about $1.25 today.
The Water Board would say “none” because they care more about politics than private sector mining with a hoist and the cable to support it.
So I have a question for the Water Board:
“If the ambient level of arsenic in Kanaka Creek is the same upstream from the mine as downstream, how much cable would it take to pull your head out of…”
The “International California Mining Journal” Has an article Referencing Senator Reid making a statement about mining law will not be a subject of legislation for consideration in 2010.
No one really has to wonder anymore as to why we have such dependence on foreign sources for natural resources: The US and especially California, are just plain anti-mining. As the excerpt below clearly states, we have uranium but we prefer to import it adding to the nation’s trade deficit and restraining the miners in the confines of the unemployed.
The excerpt is from the article “Identifying Stars In The Mexican Precious Metals Universe” Part II that appeared in the Gold Report January 10, 2010 and that was written by Trey Wasser.
“We currently operate the world’s largest fleet of nuclear reactors, which produce 20% of our electricity. The U.S. currently consumes 56 million pounds of uranium annually, but only produces 4.5 million pounds. So without adding a single new reactor we are short about 50MM pounds of uranium a year. That is hardly energy independence- especially considering that we have one of the world’s largest resource bases of the metal.”
It is understood that in our country’s historical pursuit of the metal Mother Nature was harmed but that was the fault of government, not the miners. For it was the government that issued the permits. It was, also, the government’s responsibility to insure that the land and waterways were protected which they completely failed to do.
How life for the miners has changed these days as the pendulum has swung to the other extreme: the regulatory agencies have now turned into big business with the appointees pulling in $100,000 monthly salaries plus who continue to castigate the miners with fantasy justification for fines and penalties.
Unfortunately, the miners don’t have the big check book that Goldman Sachs has to keep the regulators in their industry off their backs.
Is our problem with the Central Valley Water District caused because we don’t run a lobbying effort like Goldman Sachs?
It’s fairly obvious to informed people that rule books get thrown at you when your doing something that someone else doesn’t like. Is it possible that because stuffed white envelopes weren’t exchanged under tables that today we find ouselves in the position of being nailed to the cross?
Where is the rider on the white horse? What’s really amazing is that after the other three horsemen of the Apocalypse have ransacked our camp, our fires are still burning. Thanks, Mike.
Hello Dave
I couldn’t agree with you more. The 30 to 40 age group in Reno that I am aware of have lost their jobs while the remainder are in fear of being eliminated as well.
I have never in my life known of so many personal bankrupties and others seeking legal advice for them.
There might be Californians comtemplating Nevada as they prepare their exit plans but I see Texas, especially Austin, as a much better choice.
I recently heard that 25% of California’s millionaires have already vacated. California which is the eighth largest economy in the world really messed up, big time. There is some good news for them, I’m sending in taxes due when the time comes in April.
Hi bluejay,
You are concerned about Reno meltdown. You maybe right, but they still have another benefactor, being California and there over taxed population moving out of state to enjoy a freedom from California anti business and anti mining regulations.
Emergency shipments of condoms headed to Winter Games. 100,000 were originally handed out to 7,000 athletes and officials in Vancouver prior to the Games by health officials.
With the world financially falling apart Gerald Celente said the new big trend will be in feeling good, so the condom shortage is not a surprise at the Winter Games in Vancouver.
Just recently bad news just keeps rolling in. We have been informed that the AIG’s loss in bigger than expected and Fannie needs $15.3 billion more to stay afloat.
All this reminds me of Jim Black’s book, “When Nations Die.” If you have read the
book you know that there are many current parallels to past demises around the globe to indicate that our turn is next.Gold is going to unimaginable heights for those willing to accept what is happening in front of their very eyes. Reno, as an example, is way ahead of the rest of the nation being in the midst of the first stage of a complete meltdown.
Squeeze The People
My grandfather was a member of the L.A. County Planning Commission from the mid-30’s until his demise in 1958. During his tenure he refused to take a salary and, of course, never took a pension. His conviction was that it was one’s civic responsibility to contribe to society, not to profit by it.
Today, so-called civil servants have positioned themselves through the halls of power in government to bleed their constituents. This is becoming self evident as government revenues supporting these high paying positions and pensions continues to shrink with expanding economic decay.
Position salaries for the CEO’s of the top three banks in China make $250,000 or so in yearly compensation. A big financial shake-up is coming our way as we have been living beyound our means for far too long. In the linked news newspaper report below check out the ballooned pensions that some of the southern California school districts have handed out.
The excessive forms of public employeee benefits is surely due to be reigned in with some realistice haircuts soon to be mandated as the bankrupt State of California along with many of its municipalities are running out of options to stop the bleeding.
The Water Board gestapo with their salaries in the excess of $100,000 is one obvious place to start yielding the axe.
Wages are relative to cost of living for employees, The $19.45 hourly wages in the Bay Area were relative to wages of the early 1990’s Today it is now $25.00 to $35.00 per hour for skilled labor. As for benefits, they can be almost the same amount as the wages, so doubling the wages I would think would be the hourly cost of an employee. This would also include management of the employee, training of the employee, retirement funding, social security, medical benefits, safety equipment, vacation time, sick leave, unemployment insurance, and disability insurance. These are all costs associated with an employee. Especially a union employee.
The following was submitted to the Casey Dispatch and printed today in that daily report.
According to this report from the BLS, state and local government employers spent an average of $39.83 per hour worked ($26.24 for wages and $13.60 for benefits) for total employee compensation in September 2009. Total employer compensation costs for private-industry workers averaged $27.49 per hour ($19.45 for wages and $8.05 for benefits).
Translation: government employees make about 45% more on average than private-sector employees.
No wonder the States are in trouble, the hired help is making more money than the citizens that are still lucky enough to still have a job.
I ment to say in my last statement The argument to stop the state from enforcing the stop dredging law.
The 1872 mining law, for which you have been gifted a right to mine. This is the argument that is being considered in federal court to cause the law the State of California passed to stop dredging. A gifted right is protected by the 9th Amendment of the U.S. Constitution.
This same right should protect the 16 to One from interference from the state water board law suit. P.L.P. is representing this argument, based on a court action of another federal court in another state. The argument is written up in the “California Mining Journal”. I recommend you get in touch with the P.L.P. about your case against this law suit.
You might want to get a venue change to a federal court as the action of the complaint is for federal land. Which is not a state jurisdiction.CNNmoney.com reports that beginning July 1th, the start of the State’s fiscal years, 900,000 of their employees will be released. I guess if you work for the Water Board and can write tickets to save your job. Those positions may be a bit more secure from the regular State folks who can’t write revenue producing demands for water infractions based upon fantasy. If Californians were aware of the extended injustices this body has directed towards the Sixteen to One heads would roll.
On a recent returning mid-week trip from Reno on I-80 there were more CHP flashing lights for infraction stops than ever seen before. The “squeeze the people” State agenda apparently is now in full speed ahead.
Just like Hillary Clinton recently stated, “We’re going to tax anything that moves” clearly exemplifies the government employee’s attitude towards their constituents to cover their expanded financial requirements for all the mistakes and those of the big banks.
The general criticism of government keeps expanding on a daily basis. Gold is a free person’s hedge against fumbling leaders. As the growing massive problems behind the curtain find the light of day it will become apparent to everyone that our elected officials and their appointees were clearly out of their league as is witnessed by all their cover-up arrogance and evident monopolistic corner on ignorance.
The growing job losses of the States are living proof of government’s incompetence and all the State governments, no one is more shameful than California. This trend should continue well into 2016 with higher and higher long term gold prices as educated people protect themselves and their families.
What do Hammurabi, Plato, Charlemagne, Dante and Queens Mary and Elizabeth have in common? They all condemned, outlawed or regulated the charging of interest on loans. In fact, until the early 1900s interest rates in the United States were kept at or near 10%. And until 1979, loan laws provided some interest rate cap in every state. Then everything changed. Governments and banks put profits before people. And now the lending industry is spiraling out of control. (From Wikipedia)
An excerpt from the 79.9% interest rate story from Yahoo.com today:
A national bank charging 79.9 percent interest on a credit card is legal — as long as the issuer fully discloses the terms as required by the federal Truth in Lending Act. Still, the high rate has been met with shock across the country because it is so much higher than prevailing APRs and penatly interest rates. The CreditCards.com Weekly Rate report national average for bad credit credit cards was 14.15 percent on Feb. 12.
The money paid to banks for credit card interest expense never finds it way into the general economy. When Paul Volcker collared inflation in the early 80’s by increasing interest rates usury charges passed 10% to never return below there again. The bankers are sucking us dry and setting the nation up for another financial panic which the big ones usually benefit from. It’s an old game that’s been going on throughout our history.
They are turning us all into paupers all over again while our elected representatives care only about themselves. Is there any wonder that a recent survey indicated that the great majority of Americans have no interest in re-elected their representatives?
A parallel here with the beginning of the decline of Rome?
From today’s Casey’s Dispatch:
Obama’s total proposed annual military budget is nearly $1 trillion.
To understand the immensity of one trillion dollars, one would have had to start spending $1 million daily soon after Rome was founded and continue for 2,738 years until today.
This [Obama’s proposed budget] includes Pentagon spending of $880 billion. Add secret “black programs” (about $70 billion); military aid to foreign nations like Egypt, Israel and Pakistan (including bribes); 225,000 military “contractors” (mercenaries and workers); and veteran’s costs. Add $75 billion (nearly 2.5 times France’s total defense budget) for 16 poorly functioning intelligence agencies with 200,000 employees who keep tripping over one another.
The Afghanistan and Iraq wars ($1 trillion so far) will cost $200–$250 billion more this year, including hidden and indirect expenses.
Obama’s Afghan “surge” of 30,000 new troops will cost an additional $33 billion – more than Germany’s total defense budget.
The Pentagon colossus now accounts for half of total world military spending.
China and Russia combined spend only a paltry 10% of the U.S. on defense.
There are 750 U.S. military bases in 50 nations and 255,000 service members stationed abroad, 116,000 in Europe, nearly 100,000 in Japan and South Korea.
“There is an ancient Indian saying that something lives only as long as the last person who remembers it.
My people have come to trust memory over history.
Memory like fire is radiant and immutable while history serves only those who seek to control it.
Those who would dose the flame of memory in order to put out the dangerous fire of truth, beware of these men for they are dangerous themselves and unwise.
Their false history is written in the blood of those that might remember it and of those who seek the truth.”
Anonymous
Rick
I thought of you when I saw this quote at jsmineset.com.
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
–Joseph Goebbels
A General Pension Crisis Approaches
From the Casey Dispatch:
8 Things You Didn’t Know About Silver (That Could Help Make You Rich)
1) Every year for the last 60, more silver has been consumed than produced
2) Approximately five times more gold exists in above-ground supplies than silver
3) There are fewer years’ worth of silver in known underground deposits than gold
4) Silver is the best conductor of electricity — all cell phones, computers, TVs, refrigerators, etc. have it
5) Tomorrow’s high-performance, next-generation batteries increasingly rely on silver alloys
6) In many places, silver is now governmentally mandated to replace lead in all types of applications
7) Its antibacterial properties make silver essential for pharmaceuticals and medical equipment
8) Around 700 tons of silver are in use at any given moment for the production of plastics
Concerning Emgold, do you also believe in the tooth fairy??
Emgold’s primary focus in 2010 will remain on continuing the permitting process for its main asset, the Idaho-Maryland project in Grass Valley, Calif. The Idaho-Maryland mine was the second largest underground gold mine in California, producing 2.4 million ounces of gold at an average grade of 0.43 ounce per ton. It is adjacent to and contiguous with the historical Empire mine, Newmont Mining Corporation’s first operating gold mine and historically California’s largest gold mine, which produced 5.8 million ounces of gold. The Idaho-Maryland project has a National Instrument 43-101-compliant measured and indicated resource of 472,000 ounces of gold and an inferred resource of 1,002,000 ounces of gold. In October, 2007, the preparation of the environmental impact report (EIR) for the Idaho-Maryland project commenced. The draft EIR was published in October, 2008. The company expects to revise the draft EIR, complete the final EIR and obtain the conditional mine use permit for the project in 2010.
Published: Friday December 4, 2009 MYT 9:00:00 AM
US court blocks huge gold mining project in NevadaRENO, Nevada: A federal appeals court has temporarily blocked construction of a massive gold mine project in northeast Nevada that critics say would harm the environment and ruin a mountain several tribes consider sacred.
The 9th U.S. Circuit Court of Appeals reversed part of an earlier decision denying a preliminary injunction sought by conservationists and tribal leaders.
The groups had sought the injunction to force Barrick Gold Corp. to postpone digging a 2,000-foot (610-meter)-deep open pit at the Cortez Hills mine 250 miles (400 kilometers) east of Reno.
The 17-page ruling issued Thursday in San Francisco said the U.S. Bureau of Land Management failed to adequately analyze the potential for the mine on Mount Tenabo to pollute the air with mercury emissions and dry up scarce water resources. – AP
Latest business news from AP-Wire
I also heard a story sort of like this a while back. It was along the lines of people finding gold during the time Oroville Dam was built. I could be wrong, but I think they were finding it in the lake bed, and also in teh piles of removed dirt. Fascinating stuff.
Also makes one wonder if they could do any good with a metal detector, now that the lake level is very low…
interesting but true story:
My grandfather, a civil engineer, was one of the contractors that won the Oroville dam contract (at the time, the largest earthen dam in the world). He was also involved in the bidding of contracts and won many interesting contracts worldwide. There are a number of interesting facts connected to the building of the dam, but the one I’ll mention now was one he experienced first hand as one of the top engineers on the site. There was a guy who had been hired to haul dirt from the quarry site to the dam site. Not an exciting job by any means. The company was impressed with his work and several times wanted to promote him to a foreman type position but instead he kept turning it down. Finally the company got smart and found out why he kept turning down opportunity. As part of his normal job he was required to ensure he got a full load of dirt with each haul, so after dumping a load of dirt it was common to wash down the part of the truck carrying the dirt. Well my grandfather found out that in the hosing down of the dirt, that often gold nuggets, etc were found in the bottom of the truck.
I never heard what happened after that, but I do know my grandfather was well liked by everyone.
I read where the gov’t of India
has bought 200 metric tons of
gold boullion from the Intn’l
Monetary Fund.
Also, There is a well known
Sacramento contractor namely
A. Tiechert who now is meeting
payroll for the entire firm
because of the high gold value
and from the gold they are
mining from their rock quarry
east of Sacramento and south of
US 50.An interesting fact that is surprising:
Although Idaho produces little gold, the United States Bureau of Mines says that Idaho has more mineable gold than any other state. In recent years, as the price of gold has risen, many old mines have been reopened and the value of gold produced in Idaho has grown steadily.
Sorry, the below article was not yet finished.
Repeating and correcting:
http://www.centurymining.com/news/pdf/10142009-1.pdf
In case you aren’t familiar with “flow through share financing” the following pretty much sums it up according to the Toronto Stock Exchange. Can you imagine this, California offering tax incentives to kick start this industry and keeping it alive and running well?
Ontario Focused Flow-Through Share Tax Credit
Download PDF Information Bulletin 6315, November 2006This publication is provided as a guide only. It is not intended as a substitute for the Income Tax Act (Ontario) and Regulations.
Purpose
The Ontario Focused Flow-Through Share (OFFTS) Tax Credit is intended to stimulate mineral exploration in Ontario and to improve access to capital for small mining exploration companies.Definition of flow through shares
Flow-through shares are an expense for shares transaction governed by an agreement between the issuing company and the investor, as defined in subsection 66(15) of the federal Income Tax Act (ITA).The OFFTS tax credit
The Ontario Focused Flow-Through Share Tax Credit:provides eligible individual shareholders with a refundable tax credit of five per cent of eligible Ontario expenses
harmonizes with the federal government’s existing 100 per cent bonus deduction, and its 15 per cent investment tax credit created in October, 2000
applies rules and structure similar to the federal flow-through share (FTS) Canadian Exploration Expenses (CEE) program (some changes to federal definitions have been made).
Individuals who qualify for the federal tax credit, and who purchased shares from a mining exploration company after October 17, 2000, will be able to claim the Ontario tax credit.Corporations, and corporate partners, cannot claim the OFFTS tax credit.
I’ve been reading in the past few months that there are quite a few exploration company financings taking place concerning Canadian companies. Most of these financings have been done through private placements, mainly, with the minority being public placements involving brokerage companies acting as the underwriters.
Without any discussion concerning why private versus public placements, both are encouraged by the local provincial governments to stimulate their economies in keeping them financially healthy. Prospective investors get a tax credit for investing in exploration companies assuming they file their annual earning with that local Province. i.e. Quebec and Ontario etc.
The following is a recent news release from a company that collected over $C5 million for their exploration and start-up expenses concering the extraction of gold.
I think that’s a step in the right direction. Count me in.
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