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- in reply to: Stock exchange listing #6112
I OFFERED TO SELL AT $0.10 BECAUSE THAT WAS $0.06 HIGHER THAN LISTED ON STOCK MKT. THE COMMISSION TO SELL AT FIDELITY ON LINE IS $7.95.MY LAST SALE WAS FOR $0.50 PER SHARE.MY OFFER IS TO SELL 100 OF MY SHARES AT FIDELITY.
in reply to: Stock exchange listing #6111Mike,
for tansactions below 500.00 US-Dollars both transaction fees for buyer and seller of 75,00 US-Dollars each are to be born by the buyer in deals that are brokered via the company.
In Gerald’s case you would have to pay a fee of 1.50 US-Dollars per share on top of the 0.20 US-Dollars per share that you are paying to Gerald.
Should that fee-policy not be reviewed?
in reply to: Stock exchange listing #6110I remember talking with your grandfather years ago about gold and gold mining. I’m curious regarding your good till cancelled order for 100 shares at $0.10. Your gross will be ten dollars. will that cover the commission? What is the commission charged to a buyer? What is your desire regarding these 100 shares? I can pay $10 as others can also. Get the share certificate from Fidelity and I will double your asking price. You can call or write me (530) 287-3223
in reply to: Stock exchange listing #6109I had to re-register to get my message through .my name is gerald vittitow jnjenniings is my grandfather
in reply to: Stock exchange listing #6108I have 100 shares for sale on a good till cancelled,all or none order at limit of $0.10 at Fidelity broker.
in reply to: Stock exchange listing #6107I have prepared three bids to buy OSTO-stock together with a friend of mine at prices between 0.08 and 0.10 US $ per share and have sent these three bids to the Corporate adress.. They are good for one year.
As long as these bids are good, nobody needs to sell at lower prices.
in reply to: Stock exchange listing #6106OTC trades this month, so far:
04/05/2016 3000 shares at 0.001
04/05/2016 3000 shares at 0.03
04/15/2016 300 shares at .06in reply to: Another U.S. precious metals miner goes foreign #6105Overnight a historic event took place when China, the world’s top gold consumer, launched a yuan-denominated gold benchmark as had been previewed here previously, in what Reuters dubbed “an ambitious step to exert more control over the pricing of the metal and boost its influence in the global bullion market.”
Considering the now officially-confirmed rigging of the gold and silver fix courtesy of last week’s Deutsche Bank settlement, this is hardly bad news and may finally lead to some rigging cartel and central bank-free price discovery. Or it may not, because China would enjoy nothing more than continuing to accumulate gold at lower prices.
The first Chinese benchmark price, derived from a 1 kg-contract traded by 18 participants on the Shanghai Gold Exchange (SGE), was set at 256.92 yuan ($39.69) per gram on Tuesday, equivalent to $1,234.50/ounce.
China’s gold benchmark is the culmination of efforts by China over the last few years to reform its domestic gold market in a bid to have a bigger say in the bullion industry, long dominated by London where the global spot benchmark price is currently set.
As is well known, as the world’s top producer, importer and consumer of gold, China has balked at having to depend on a dollar price in international transactions, and believes its market weight should entitle it to set the price of gold.
Thank you, shareholder for sending this historic event. Otherwise I may not have seen it.
Thanks also to zerohedge.com for your news. Speculations welcomed about the effect this will have.in reply to: Stock exchange listing #6104Mike,
as far as I know the OTC market is rather intransparent because nobody has a complete overview of all active bids as long as there is no “market-maker” for a certain stock.
There seems to be some sort of a nation-wide bid-notification system, but being no stock-broker, I do not know anything about the details of this notification system and how well it works in life-trading. From your experience it seems, that it doesn´t work very well.
However, the buyers´ and sellers´ lists on the company´s website are easy to look at. And anybody, who is thinking about buying or selling stock will look there first.
I think, I will give it a try and see what happens.
in reply to: Stock exchange listing #6102Mike,
On April 5th, 2016, 3000 shares of OSTO stock have been traded on NASDAQ for 3 cts per share, down from 9 cts per share.If I would submit a bid for the purchase of 100.000 shares at 3 cts a share, would this bid be published on the company-website?
And would it not be in the long-term interest of all shareholders to have comparatively low bids on the company-website rather than having no bids at all?
in reply to: Stock exchange listing #6103Hans, I know some facts about the stock you posted below. April 4, 2016, I received a call regarding 5000 shares belonging to a man I knew. He died in November and his executor wanted to close the estate. He suggested I put a low bid and see what happens. I did at $0.05 a share. Someone paid three cents when a five cent offer was on the table. Who gained? Who lost? Who or How as this decision made?
People tell me that they have placed buy orders at prices higher than the one executed. They wonder, “how does this happen?” I just had this experience and don’t have an explanation.
Yes, anyone can place a buy order on our STOCK page at any price. A seller makes the decision. The Company is like an escrow holder. The stock market takes second place to the need of mining. We are successfully moving forward towards debt elimination and increased gold production. When our financial issues are satisfied, I will institute a program towards increasing the awareness ot this great little company.
in reply to: Ideal Time for Facts #6101Hans,
You are correct, kind of. The Washington Mine is in a community called French Gulch, NW of Redding, CA. They are one and the same mine. I believe the company used the names interchangeably – or referred to it as French Gulch, being the town that it is near.in reply to: Ideal Time for Facts #6100The name “French Gulch” seems to be a part of several different underground operations in the Redding area.
On Shasta Gold Corp’s website a company by the name of “French Gulch (Nevada) Mining” is mentioned as a whollly owned subsidiary of Shasta. But they are working the “Washington Mine” near Redding, not the “French Gulch Mine”.
This habit of using small companies as subsidiaries for single mine operations is confusing to foreign observers.
in reply to: Ideal Time for Facts #6099Bullion River Gold Corp., parent company of French Gulch Mine, has filed for Chapter 11 bankruptcy protection.
The Reno company, which started mining in western Shasta County in 2006, said in court papers the bankruptcy was necessary because creditors were threatening to shut down its operations.
Bullion River Gold also claims it intends to reorganize. The company, which declared bankruptcy Feb. 27, lists $30.1 million in assets and $10.56 million in liabilities.
French Gulch is one of six subsidiaries owned by Bullion River Gold, a company started by a group of investors in 2003 under the name Dynasty International Corp. It changed its name to Bullion River Gold in January 2004.
Story here, but may be behind paywall (hit stop on your browser before the page fully loads and you may be able to read it):
in reply to: Ideal Time for Facts #6096Mike,
the underground operation just west of Redding that closed down was that the operation, that was reorganized with money from Germany a few years ago?in reply to: Ideal Time for Facts #6098Mike,
French Gulch used to be a wholly owned subsidiary of Shasta Gold Corp.
And Shasta got several million Euros from Germany a few years ago. Among other purposes, to clean up a waste-water mess at French Gulch if I am not mistaken.
They had been operating a mill there and were using chemicals to extract the dore. The waste water was released in an inappropriate way and the person who was responsible for the operation of the mine got a six month jail term last year.
It all surfaced after a pipe broke and waste water found its way into a stream and a lake.After a waste water treatment plant had been built operations were resumed. Until very recently, it seems. Could you check on that Mike? I do not want to do anybody wrong in case I should be mistaken.
When I talk to experienced German Investors about Gold Mining in California today everybody tells me that California has outlawed all leaching operations and that there is just no way to earn money in that industry in California any more.
Of course they do not know about “boutique gold mining” yet.
in reply to: Ideal Time for Facts #6097Hans,
The story at French Gulch (west of Redding) says the investors stopped support. The crew came to work and was laid off that morning. I made a call to verify if the investors were from Germany. My recollection is the German investors were at the Ruby mine, which also closed down last year. When I confirm the mine that the Germans were financing, I’ll let you know.Failures in mining outpace successes. It’s true going back decades, centuries. For success three ingredients are vital: a strong gold deposit, wise and dedicated people and working capital. Other factors include commodity price, location of operation and goals of management.
Over my forty years involvement in a small part of the industry (underground gold mining in California) the many failures of actually mining gold have similarities. During the wild days of the late 1970’s and early 1980’s some investors did well pushing stock. Many were left holding worthless shares. The game was easy to spot and took place in other fields than gold mining. Paper promotions date back hundreds of years and will always be around.
The Sixteen to One is different from most others. The company has a history to match its fine gold properties in California. Money issues have surfaced over our 150 year history of mining in Alleghany. When I took an interest in the mine in 1974, I found great prospects but a tired management. The owners must get good “at-a-boys” because the directors kept the property and corporation intact during difficult times for mining.
Three men who were not directors played a significant role during the 1960’s. Gold mining suffered almost to extinction due to the control of price slapped on America in 1934. Could any industry continue under the same restrictions? No. Up steps Fred Searls (founder of Newmont), Bernard Baruch (worldly financier) and Lucius Clay (retired General). Fred worked at the Sixteen as a young man and remembered the northern Red Star history. He told the others and they ponied up some capital to work the northern deposit. Gold was found but not enough to pay the operation (gold was set at $35 an ounce in 1934 and held that price up to 1975). We have the records and maps of this failed endeavor.
It is an interesting story. Why do I relate this to you in Germany this morning? Last night I continued reading Dwight Eisenhower’s account of the war in his book written in 1948. General Eisenhower handled the Berlin situation during the closing years and after the war in Europe ended. He complements one of his top advisors, General Lucius Clay. It is a small world when it comes to significant events and bringing peace to Germany had complications. General Eisenhower describes the complex issues of making peace in Berlin, which interest me.
Did I tell you that I was in Berlin in the fall of1962? I saw the wall under construction. I also passed through Check Point Charlie three times into East Berlin, an experience I will never forget. As chance had it, I returned to Berlin with my family in 1989, when the wall was penetrated and East Berliners were passing through. I will never forget this either. So now, I work in Alleghany, planning an operation to continue what Baruch, Searls and Clay undertook fifty years ago. What a long slow trip it’s been.
in reply to: Ideal Time for Facts #6095Our miners know that underground mining is a dangerous occupation. Our legislative direction (the mine act of 1977) towards safety is the responsibility of operators and miners. It rules every moment of our work… underground and on the surface.
Hazards lurk everywhere. This is a universal truth in most occupations. For us the first step in safety is recognizing hazards. The next step is to evaluate the hazard. The third step is to eliminate or mitigate the danger. The hazard still exists, yet it poses no danger to the miners.
MSHA is our legislated safety agency. It plays an important role for miners and our country. The best way for MSHA to assist an operator/miners with safety is for both sides to act responsibly.
MSHA recently began helping our industry with email alerts. One arrived today and follows:
Dear Metal and Nonmetal Mine Operators,
April is the second deadliest month in the Metal and Non-Metal mining industry. Only October has recorded more mining deaths than April, and not by many. Since 2000, a total of 50 metal and nonmetal miners have lost their lives in April, and many more have suffered serious and disabling injuries.
As warmer weather returns, so do many of the metal and nonmetal mines that were idled during the winter months. Equipment and plants that have not run for several months are pulled out of storage and set up again, ready to get back to work.
This time also sees an increase in new miners, but they are not the only ones at risk. Even experienced men and women need retraining. Mine management and miners alike must recognize the hazards and commit to a vigilant and safe mine health and safety program. Training new employees and refreshing experienced personnel, examining workplaces and correcting safety defects, analyzing tasks and planning jobs before beginning work, and being your brother’s or sister’s keeper are the hallmarks of a safe and successful operation.
In mining and milling, there is no room for warming or ramping up on safety or easing into risk control the first few days or weeks. Safety must be full-on and in the forefront of everyone’s mind from day one. END
The mining industry is shrinking in California and America. It receives bad press and little good press. All of us benefit from well run mining operations. With the closing of the underground gold mine just west of Redding, the Sixteen to One is the last commercial underground operation in California. This is sad.
in reply to: Let’s back physical shares with physical gold #6094i think a price of 0.09 is an insult to all owners of stock.
in reply to: Let’s back physical shares with physical gold #6093i have 700 shares for sale at fidelity at limit of 0.47.someone who reads forum should be able to buy a few shares!
in reply to: Clips from Alleghany #6092Something or somebody put this website off line…out of business for two weeks. The website began in the 1990’s and its format is ancient in technology time.
Sixteen to One hired a firm to update the site. The old information will remain but the infrastructure will be 21st century. Hang in there if it goes off again.
in reply to: Risk Management Strategies #6091Mike,
congratulations on the turn-around! Good to hear that 2015 was a profitable year.
Managing the marketing risks for your product is important as you ramp up production. Here is what I could do at my end over here to support you:I have a relative who is a professional German goldsmith. If you send me a standard shipment of gold-laced quartz slabs, we could work on a marketing strategy for Europe and build a few samples that we could show to potential resellers.
Please send me an E-Mail with details on available volumes and prices.
in reply to: Risk Management Strategies #6090Hans,
The mine gave us more quartz and gold than our major buyer can handle. Most of our gold is sold in jewelry in Alaska. Over one million people take the Alaska cruse. There are no dealers or jewelers in Europe marketing Sixteen to One mine precious gem stones. A representative claiming to be familiar in Germany met with the owner of our major wholesaler at the annual Tuscon Show this month. He is unknown to me.Do you think that Germans may have an appetite for the rarest precious gemstone once again on the market? If so, write me on our public website of email. We have a good inventory and a European market is long overdue.
I don’t know how to proceed with our idea of uniting some Germans with more dollars or euros and our very real gold mining operations in California. I know that the opportunity to significantly expand our operations with investors is also long overdue.
An agreement seems unlike which means this old gold producer, once again, is left to mine its way back to great gains for its owners. We are profitable for year 2015 yet I know I am under achieving, which no German wants to realize, especially a Californian living and working in California’s gold country.
in reply to: Risk Management Strategies #6089Risk management strategies need to be reviewed from time to time.
When looking back on the past six years of risk management at Origsix it seems to me: The strategies worked well!
Legal risks were settled or minimized.
Technical risks have been under control and no accidents happened. However there have been recent complaints by mine supervisors that will need to be adressed in due time in order to avoid more legal trouble in the future.
Economic risks seem to have decreased to some small degree but remain challenging.
In Mike’s words: We are on our own.
in reply to: Ideal Time for Facts #6088Eight silver producing companies listed on New York Stock Exchange or NASDAQ reported combined silver production for 2015. The total silver production is 85.5 million ounces.
in reply to: Stock exchange listing #6087Mike pointed out a GREAT idea below. Even though the shares are no longer “valued” at $0 in a brokerage account, it still could be great opportunity to remove shares from an IRA (or Retirement Plan/tax-deferred) account. People are often mistaken in the belief that they can only take cash from an IRA, especially for a Required Minimum Distribution at >age 70.5
Your new cost basis outside of the IRA is the value on the date the shares were transferred.
If you are considering moving shares in kind from an IRA, please be sure to speak with your broker/advisor, AND, more importantly your CPA or tax-preparer. THIS POST, AND THE POST OF MIKE’S BELOW IN NO WAY CONSTITUTES TAX ADVICE. EACH PERSON HAS HIS/HER OWN UNIQUE SITUATION – THIS MAY NOT BE ADVANTAGEOUS FOR YOU. TALK TO YOUR TAX PERSON…
in reply to: Stock exchange listing #6086THIS IS INFORMATION ONLY. IT IS NOT AN OFFER OF TAX ADVICE. CHECK THIS INFORMATION WITH A PROFESSIONAL TAX ADVISER.
If you or anyone you know with shares in an IRA or retirement plan account, consider taking a distribution now. You can move shares in kind, from IRA to taxable account, and the distribution amount (or taxable income) is the value of the shares on the day they are distributed. With the gray market sales at last tradesAt $0, right now is the perfect opportunity for that. If shares go up to $5 later (or $25) then it’d be capital gains in a taxable account, but if taken from IRA at that value, is considered income, which for a lot of folks is taxed higher than capital gains.
in reply to: Clips from Alleghany #6085Scoop, for any Captain in any Navy with information on the surface temperatures of the Peru Current in October of any year it is possible to foresee, what sort of wheather is to be expected three thousand miles to the North and in three monthes from October.
And for every President of every hard rock gold mine above the Malone Fault with information on the strikes and dips of hydrothermal quartz veins that where intercepted during the last 100 years of mining that orebody, it is possible to foresee what amounts of gold precipitation are to be expected in the Compromise Raise.
So, my wish for the crew is easy to do. Good luck for Mike and his threedimensional image of the Origsix-Orebody.in reply to: Clips from Alleghany #6084Hans, you should pick the number for the huge lottery in America and wish to be correct. California is getting pounded with rain and snow and the mine continues working on three pockets of gold. Make another wish for these hard rock underground gold miners.
in reply to: Clips from Alleghany #6083Last October I have sent you two wishes (See below): A lot of moisture for all of California and a few high-grade pockets for the crew in the compromise raise.
As far as the moisture is concerned my wishes seem to work.
A Happy New Year for Origsix!in reply to: Gold Enters Major Bull Market #6082Nicely stated, Bluejay. If this is the gold bear market, I am very pleased with gold over $1,000 an ounce.
One thing you may know but have not touched is the fact that there are less small gold companies in business than during the last bull market. Supply and demand never leave an economic analysis.
in reply to: Gold Enters Major Bull Market #6081I believe we must focus on the facts that the dollar has been rising and gold has been falling. No one knows with certainty when these established trends might change, folks can only guess.
In sizing up suspected trend changes one must understand the resource of their past failures and be able to apply that knowledge. The gold newsletter writers travel on a one war street for the most part and never seem to learn. Beware of these people.
Although as irresponsible as they may have been, costing some investors a great deal of their wealth, these morons stand the chance of being right in a short period of time ahead, just like a stopped clock is right twice a day, if they’re still around.
IMO, we are entering an approaching phase transition where a flash crash in the general averages could develop(with much higher all-time highs to follow) along with the gold shares following suit in preparation for their final lows(some have already bottomed) while driving the last remaining sheep over the cliff. This, IMO, will be the long awaited beginning of the next intermediate uptrend within Gold’s Current Long Term Bull Market.
Am I dreaming? “Time and Tide waits for no man.” Our power is dry and the finger is on the trigger.
in reply to: Gold Enters Major Bull Market #6080I believe we must focus on the facts that the dollar has been rising and gold has been falling. No one knows with certainty when these established trends might change, folks can only guess.
In sizing up suspected trend changes one must understand the resource of their past failures and be able to apply that knowledge. The gold newsletter writers travel on a one war street for the most part and never seem to learn. Beware of these people.
Although as irresponsible as they may have been, costing some investors a great deal of their wealth, these morons stand the chance of being right just like a stopped clock is right twice a day, if they’re still around.
in reply to: Clips from Alleghany #6079Re-connect with us. The 2016 year will be an eventful ride.
in reply to: Clips from Alleghany #6078For clarity read the entry below…………….
I did receive an email this morning: “Your Company traded 1150 shares at 0.20 this morning, then 300 at 0.00”. My further review discovered the bid/ask is 0.01 at 0.20. Of all people, Scoop, you must have seen the crew arriving this morning and my Ford Raptor parked outside the office. The bank didn’t repossess it. Nothing negative has change with our operation. Here is a little stock history; take a look on the web site under the topic STOCK at left of screen.
The last legitimate trade that occurred was august 31, 2015 at $.56. On June 16, 2015, 18,209 shares were purchased for $.44 each. On October 23, 2014, 10,000 shares were purchased at $.42. Furthermore between January and June of 2013, 9,800 shares changed hands at $.89.
The Stock exchange listing on the FORUM has many entries discussing the pink sheet or gray market as some call it. I call it a joke.
in reply to: Gold Enters Major Bull Market #6077Gold Investing has many news publications. Some are really good and beneficial. Many are poor and beneficial for different reasons. Most encourage the purchase of gold or stocks. I have been reading them since I entered this industry in 1974. At that time the best information came from South Africa. Once the United States government lifted the price controls and ownership restrictions on gold, the domestic gold advisers and newsletters grew like weeds in the Spring. I continue my interest in gold information. The junior mining market has a very small following. There are fewer survivors left mining and most are without production than years ago. Most are touting how the permit process is favorably moving along. A minority are drilling and touting interesting numbers without any explanation about how it will turn the gold potential in the ground into money let alone profitable money. This is not new. It has existed for forty years. It is also not just in the gold industry.
The following information came across my email today. These are from Presidents and Directors in the junior company class. I’ll summarize for you.
The year is nearly over, and at this point it’s no secret that 2015 hasn’t been great for the gold price. While it nearly breached the $1,300-per-ounce mark in January, by midway through December it was down about 10 percent year-to-date.
:
Despite the current weakness in gold and other metals, I expect gold, and silver in particular, will rebound by mid-year 2016, with investor sentiment following, first into the major producers and trickling down to the juniors. By the end of 2016 I anticipate a much stronger market if for no other reason than there will likely be far fewer junior companies remaining.2016 looks like it could be another difficult year for the gold market. The main issue continues to be the strength in the US dollar, and any weakness there would certainly be positive for gold. Some encouraging signs do exist as overall demand for metals continues to be healthy and producers have made strides reducing costs. Also, we have seen some of the required mergers and a reduction in the overall number of companies. In general, I see the gold market staying the same for much of the year with some modest recovery from the current level.
The early part of the year should be optimistic as usual, with gold and credible, quality miners (producers) seeing a good lift after tax loss season. The market should continue to improve for miners since so many companies have gone under or delisted, lessening the pool of potential investment choices for investors pulling money out from the overvalued broad markets
Investors need to focus on companies working on appropriate deposits, and investors and analysts need to be aware that “losing it on grade, but making it up on volume” never did and never will work. The ultra-large, high-capex, low-grade deposits and analysts that sold these to the public are as much to blame for the massive losses in the markets and the current investor sentiment.
I think it is very important to stress the cyclical nature of the gold market. Gold and metals prices in general will recover, and what investors need to look for are companies that are positioning themselves to benefit when the recovery starts to happen. It is very difficult to not only survive, but continue to be active under the current conditions.
Gold has always been there, through dynasties and civilizations, and continues to be a constant in our world today. With inflation kept artificially low, along with interest rates, it’s only a matter of time that faith in US dollar dissipates; we are already seeing evidence of that with China becoming a powerhouse in the world.
in reply to: Clips from Alleghany #6076Oh no, the Sixteen to One mine must have fallen into the earth! Well, only if you believe in the relevance of the stock market according to Pink Sheets. I know some people actually put credit in this market to evaluate this Company value. According to today’s trade history on the internet ( marketwatch.com/search/value=osto) the Company is worth nothing. It is worthless because some intelligent people traded shares at $0.0000. The reported volume is 1,050, down from a prior trade at $0.20. According to this report the 52 week high is $0.29. What a sad day it must be in Alleghany. The crew must be devastated. Mike must have lost his mind with this realization that the 104 year old corporation, yes the same one organized to take over the 119 year old mine and its 147 year old neighbors has no value.
Mike, if you see this news, please respond. Did the trees all die? Has your water dried up?
Did others steal all the equipment, supplies and inventory when your back was turned? Is there no more gold left to mine?in reply to: Ideal Time for Facts #6074Ah, voices from the past. How refreshing!!
Public Paw 91-173 called “FEDERAL MINE SAFETY AND HEALTH ACT OF 1977”. Most historic publications call it “An Act”. It should come up on any search. Before MSHA came into existence, a different agency handled regulation. Congress’ intent is clear in An Act. It is also clear that the intent of An Act today does not follow its original and amended purposes.
So no one miss characterizes my position, I want regulations. They are needed; however this is not what is coming to Alleghany. I speak with people in the mining industry often and throughout the country. Poor regulation is a national epidemic and it hurts every person in the United States. I know this to be true from North Carolina to Idaho to Arizona and of course in California.
“Truth, like gold, lies at the bottom.”
in reply to: Ideal Time for Facts #6073Wow, has it been that long ???? I originally started the topic when we were neck deep fighting the falsehoods and propaganda spewing from the illegal behavior of the CDAA. It is epic that this mining operation survived, and is on the brink of proving once again that the truth works every time its tried…eventually. Keep it up Mike!
in reply to: Ideal Time for Facts #6072Hi Mike, I have looked for the ACT you mentioned, there are several in 1977, is it the mine saftey act? or one of the others?
I am in the Summary Judgement phase of Gene’s and my suit. For the value we could use your help if you can, for instance, how much 2300 feet of drift is worth. Thanks, Big Al
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