[Stephen Wilson]

in reply to: Gold Enters Major Bull Market #5865

China’s gold demand rising 25% by 2017 as buyers get wealthier
China, which overtook India as the largest user last year, will rise about 25 percent in the next four years.

Author: Nicholas Larkin, Bloomberg
Posted: Tuesday , 15 Apr 2014
Gold demand in China, which overtook India as the largest user last year, will rise about 25 percent in the next four years as an increasing population gets wealthier, according to the World Gold Council.

Consumer demand will expand to at least 1,350 metric tons by 2017, the London-based council said in a report today. Growth may be limited this year after 2013’s price decline spurred consumers to do more buying last year, it said. China accounted for about 28 percent of global usage last year, the council estimated in February.

[Fred Cain]

in reply to: EMPIRE STRIKES BACK #5864

Group,

I wrote a letter to the editor of the Union urging him to print it. He did not absolutely promise this but he was very encouraging. I believe he probably will.

In my cover letter I stated that:

Dear Mr. Hamilton,

I was given your e-mail address to write to by the president of the Original Sixteen To One Mine, Michael Miller.

As a Midwestern tourist I have been looking forward to the opening of the Empire Mine Adit Project with anticipation. I was frustrated first by the delays and now I’ve heard that it has been “abandoned”.

I have drafted a letter to the California State Parks Division and was hoping you could either print it, forward it to the appropriate person or both.

I could mention that there are numerous old mines all over the country, some of which have been closed for decades, which offer safe tours to the public. The Original Sixteen To One Mine is among them although this mine is still in operation.

However, there is a gold mine at Julian (near San Diego) that has a tour, the Queen Mine at Bisbee, AZ and the Old Hundred Mine in Colorado. And that is a very, very short list. There are many more mines around the country that do this and it is completely and entirely SAFE. Why can’t the California State Parks Dept. get this right?

And the main body of the letter:

Dear California State Parks:

As a hard-core dyed-in-the-wool Midwesterner, I have all my life believed that there is simply no greater place on earth to take a vacation and spend leisure time than in the State of California.

On one great vacation taken back in the 1980s, we visited the Empire Mine State Park near Grass Valley, CA. Unfortunately, I was bitterly disappointed that there was no underground tour at that time. I actually felt kind of cheated and ripped off. This would be like getting to visit the Empire State Building in New York City, paying an admission to visit the lobby only to find that there is no elevator ride to the top. This is completely unacceptable.

A few years ago I was positively elated to learn that they were working on developing an underground tour. I was thinking about planning a vacation to California to see this. Now I am crestfallen to learn that this will not happen after all and AFTER the State has spent 3½ million dollars on the project. Something about “corrosion” on the beams. This, too, is completely unacceptable. This issue needs to be addressed and resolved. It is completely unfair to the people of the Golden State.

It’s also unfair to millions of people like me who plan to come to California to spend their money on vacations. Without wonderful attractions like the Empire Mine, we might just decide to go elsewhere. If we do come at all, there surely would be no compelling reason to visit the Nevada City/Grass Valley area.

I would like to strongly urge you to take whatever steps are necessary to get this project going again and get it finished.

With Sincere Regards,

Fred M. Cain,
Topeka, Indiana
April 2nd, 2014

[Fred Cain]

in reply to: EMPIRE STRIKES BACK #5863

Thanks, Scoop!

For what it’s worth, while in there I also found a video of a train ride. You can see the train here:

https://www.youtube.com/watch?v=IEQ_JkwzYBI (Copy and paste that address to your browser).

I simply cannot fathom WHY the Empire Mine can’t do this too! You’ll notice that there are *NO* steel support beams or siding in this mine and yet it looks perfectly safe. I’d send my kids on this ride in a heartbeat. (If, that is, I can go too! I LOVE train rides! Guess I’m still a kid at heart).

Regards,
Fred M. Cain

[Ron Pacholec]

in reply to: EMPIRE STRIKES BACK #5861

Mike, I’ve been off the Sixteen website for a while and a little slow on the uptake. I’ve been struggling with as legal matter too. I’m the trustee for an estate that’s being contested. There’s a Court Hearing in San Mateo County on 22 April that I’ll attend. I expect and hope that this will settle and close the matter.

Anyway Congrats!! for being on the KNCO NewsTalk Show!! When we met last we talked about using Social Media to get support for Gold Mining in Sierra County. I’ve started working on using SM as a Marketing tool and Strategy. When we get support from the community we will have a defense against all the unnecessary regulation, and in particular, the Water Board. Having exposure on the radio and in the Mountain Messenger would be a Great help! I want to use Social Media to attract people and move them onto the Sixteen website. Then we can educate them that the Sixteen is using mining technology of the 21st Century like Quartzview. And pitch the point that this is very clean mining and a HUGE economic boost to the entire County. When I get this a little more worked out, we can chat or even meet to discuss how we implement SM. But basically, radio, newspapers will get people interested and start looking at the SM, which will lead them to our website, and get them involved with us. I remember posting a News article about a year ago where public demonstrations at a coal mine in Ohio forced the regulators to approve of reopening the mine and allowing operations to restart. If this can be done with coal, we can certainly do it for GOLD.

ALOHA! Ron

[Fred Cain]

in reply to: EMPIRE STRIKES BACK #5860

Group,

I just found an interesting article here on the Empire Mine.

http://www.juniorminers.com/mines/empire-mine.html

You have to copy and paste that address to your browser.

What really caught my eye was the statement that only about 20% of the gold has been recovered from the mine. Imagine that!

That makes me wonder about the Original Sixteen To One. The Sixteen To One is only about one tenth the size of the Empire – if I did the math right. Does that mean possibly, just possibly, that only TWO percent of the gold has be recovered? I wonder.

And the stock is selling for nine cents? Could this be the buying opportunity of a lifetime?

Regards,
Fred M. Cain

[SCOOP]

in reply to: EMPIRE STRIKES BACK #5862

Forget Mike’s post below about how to hear the KNCO radio interview. Go to the NEWS category (on left, second item) and click on Michael Miller-KNCO Radio Interview. This will get you to the show without those tiresome commercials now edited out.

[Fred Cain]

in reply to: Ideal Time for Facts #5859

Thanks, Michael! You won’t believe my stupidity. I was searching for a “News index” on KNCO’s website! No wonder I was having trouble!

Great interview, though! Like I said earlier today on the “Clips” thread, I think we have reason to be encouraged. Your interview only reinforced that encouragement. Things are looking up both in the mining industry in general and at the Original Sixteen To One as well!

Regards,
Fred M. Cain

[Michael Miller]

in reply to: Ideal Time for Facts #5858

Under the original sixteen to one mine logo and date (to your left)is the index for the website. Second down is “News”. It takes you to the shortcut for KNCO interview.

[Fred Cain]

in reply to: Clips from Alleghany #5857

SCOOP,

Thanks for the update. I found some of your remarks most encouraging. Sounds to me like real progress is taking place at the mine.

As for the water issues I am praying that a light will go on at the State Of California and they will see how stupid and short sighted that is.

As for logging in the National Forest, environmental groups that would end all logging are the same groups who believe there should be no mining, either. Ironically, the kind of mining done at the Original Sixteen To One is very environmentally “friendly”. Like you say, if we leave it to the Asians to mine for gold, there will be much more environmental damage done to the globe not to mention the loss of American jobs.

Regards,
Fred M. Cain

[Fred Cain]

in reply to: Ideal Time for Facts #5856

Mike,

What “New index” would that be? I’m having a terrible time trying to find this. Nor can I find an e-mail contact for KNCO.

If you can find the interview, could you post the URL on the forum? I really would like to listen to it.

Regards,
Fred M. Cain

[SCOOP]

in reply to: Clips from Alleghany #5854

Time is flying by with cosmic speed this year. Scoop is still in Alleghany, looking around at the local activities. Right now snow is falling…about two inches in half an hour. There was no snow anywhere to be found even at high elevations on Henness Pass. All the fruit trees are in bloom and may be affected by this storm. Alleghany folks know that care must be exercised until May when planting vegetables. Snow even in June occurs. Even though, this winter was the mildest in thirty years.

The County road crew only has two members. They travel out of the area often so our ditches are overgrown, dirt roads need grading and branches overhang most of the travel ways. The lack of money for maintenance is a county wide issue. Sierra County used to get money from forest harvests in the Tahoe National Forest. It went into the road budget. Those were good days and the forest was much healthier then than it is not. How did the advocates for leaving the forest alone convince knowledgeable foresters that thinning and responsible harvests are bad? What the mis-educated environmental rogues claim are valuable trees are called weeds by many throughout forest.

Now for scoop news you are waiting to read: gold mining in California. It is alive. The Sixteen to One crew arrives every day for work. Just what work they are doing is unclear to the casual viewer; however, scoop has boots-on-the-ground.

Forty foot long black snake like pipes were delivered a while ago, many rolls and pieces. The stacks are shrinking so it is safe to say maintenance work on water or air lines is underway. Stacks of nice lumber show up as well. For a month rolls of heavy industrial electric wire sat outside the mine gate. They have disappeared also.

Mike’s 2001 Ford truck is on its last round up (321,000 miles). He spends time at the office and drives the road to the portal frequently. One worthwhile corporate event has occurred. Settlement negotiations with those nasty water regulators are underway. The amount claimed in the lawsuit is ridiculous. Maybe government people are waking up to the necessity to take the hangman’s noose off some of the industries struggling to survive. California, like most of the country, needs jobs. More miners are needed to raise domestic productivity. Hey America, the environment is harmed far greater as American regulators throttle down the exploitation of our natural resources. We need all minerals to survive. Shipping across the Atlantic or Pacific Oceans is far dirtier and polluting than production from well managed local sources. Let’s help those industries in California and other states for a positive change. Good luck on settling an uncalled for lawsuit against a gold rush mining camp still mining after 165 years.

[Michael Miller]

in reply to: Ideal Time for Facts #5855

There is a short cut for you to listen to the radio interview on KNCO. The station called with an invitation to talk about the closed forever position announced this month of the Empire Mine Adit Project. It raised objections among many familiar with the idea to offer underground tours of this iconic gold mine. The stated reasons given by State Park Director Anthony Jackson made no sense (I was the project contractor and our miners excavated the adit.

I refused a request to come on the radio eight months ago but now was an “Ideal Time for Facts”. The commercials have been erased. If you can find the time for some radio, go to the News index and click on the address.

[cody washburn]

in reply to: Gold Enters Major Bull Market #5853

I am not endorsing or confirming anything in the link below (or the website it is on), as I kind of read it rather quickly – but it may answer part of your statement of dumping a lot of gold on the “market”

http://www.zerohedge.com/news/2014-03-22/how-china-imported-record-70-billion-physical-gold-without-sending-price-gold-soarin

[Fred Cain]

in reply to: Gold Enters Major Bull Market #5852

Group,

I am still in the learning process here concerning gold and gold miners. But one thing that dawned on me last week that might really affect the price of gold is the quantity of gold being produced.

Usually things like the fear of future inflation and economic instability are given as being among the biggest movers of gold futures. But what about production?

Last week I received my annual report for Newmont Mining and was astounded to read that they met their goal last years of a 5 million once recovery. WOW ! !! Five million ounces? What does that mean? Does that mean they actually PRODUCED that much gold or simply that they “identified” it.

Because if they really produced that much gold, that sounds like a helluva lotta gold to dump on the market. And that’s just from one mining company. What about Barrack Gold and some of the other biggies? It’s hard for me to believe that they could produce that much gold and not have it affect prices. Don’t the same laws of supply and demand apply to precious metals?

Unlike commodities like grain, oil, pork bellies, coal or natural gas, metals aren’t really “consumed” in the same manner. So it would seem to me like if an oversupply develops (as it has in the past with steel) that could take a long time to work down again.

At the end of the day, won’t this kind of gold production affect the smaller miners like Ruby Gold, Western Pacific Resources and the Original Sixteen To One?

Regards,
Fred M. Cain

[Fred Cain]

in reply to: How to Approach Thin Veins & Cost #5850

Does anybody on our forum know of any other companies doing underground mining in California with trammers, ore cars and tracks? I have stumbled over a couple but they are dog-gone hard to find. I suspect they are out there but how do you find them?

I have this theory about underground mines that mine with tracks. I see or perceive, a company using rail to mine as having an honest, long-term commitment to their operation(s). I suspect that some so-called “trackless mines” are attempting to do business by getting in quickly, recovering any remaining resources that they can, also quickly, and then get out again.

Surely this is not the case of all trackless mines but I suspect it may well be the case for many of them. Does anybody else have any ideas on this? Is there a connection between mining with underground railways and commitment?

Regards,
Fred M. Cain

[Fred Cain]

in reply to: How to Approach Thin Veins & Cost #5849

I would like to add a recent development to my post below on North Bay Resources and The Ruby Mine. I found out today that North Bay is planning to “spin off” The Ruby Gold Mine Co. with a new I.P.O. of stock. The proceeds of the sale will go to paying a one-time “stock dividend” to current North Bay shareholders. It will be interesting to see how this pans out.

North Bay’s common stock is now around two cents. (OSTO shareholders take comfort!). Obviously investors don’t seem to enthusiastic about this.

However, from what I can tell Ruby Gold seems to have some good people working there. Of course, I don’t know them personally so maybe someone on our forum can expound on this.

I can tell you one thing, though, when I e-mailed them at their website they were responsive. Surely that’s at least a step in the right direction.

Regards,
Fred M. Cain

[Michael Miller]

in reply to: Gold Enters Major Bull Market #5851

The message below is likely a sham. Stuff like this was going around twenty plus years ago. It must be a sign that gold speculation is reaching higher levels. A letter like this is for morons.

[Harvard Bryant]

in reply to: Gold Enters Major Bull Market #5848

Dear Sir/Madam,

We are Local miners based in Tarkwa, Ghana-West Africa we also have office in the United Kingdom and USA to easy the shipment for our buyers.we have 500kg alluvial gold

dust in stock ready for immediate sale.If you are interested in our gold or want to partner us to develop our mining site your are welcome.

Find bellow the specification of our AU Gold Dust:
PRODUCT. . . . .GOLD DUST
QUANTITY. . . . 500 KG PLUS
PURITY. . . . . 96% {Non-refined}
QUALITY. . . . .22 carat +
PRICE. . . . . .$20.700usd (Negotiable)
ORIGIN. . . . . Ghana(West Africa)
hope to hear from you soon.

contact me with my private email: golddustonline@gmail.com
director@linkwood.biz
+447087623768

Yours faithfully
Harvard Bryant

[Fred Cain]

in reply to: Stock exchange listing #5844

Blue Jay and Group,

One thing I was wondering about, could we stabilize the “pink sheet” shares simply by buying them up? I don’t mean to suggest that the COMPANY should do this but rather we individual investors. I mean, at 5½ cents a share, it’s hard to go wrong. If we should each spend a few thousand dollars it wouldn’t take long before the share price is well over a dollar. The pink boys would have trouble manipulating the stock ‘cause there would no longer be too many shares left out there for them to manipulate..

Of course, another idea I had too would be if we could develop a “money pool” where we would all contribute a little bit toward the cost of sinking a new shaft and dewatering the mine. It would not be a loan and neither would new shares be sold to do this.

Our reward would be the high possibility that Mike would find new gold – and possibly a LOT of new gold. That could result in higher share prices and possibly even a dividend. What do the rest of you think about this? How much would that cost and how many ways could it be split up so that it would not be a hardship on any individual member?

Regards,
Fred M. Cain

[Michael Miller]

in reply to: EMPIRE STRIKES BACK #5847

Just got information how to access the radio program cited below. type KNCO.com click on “Listen Live”. The show will start in moments from your click.

[Michael Miller]

in reply to: EMPIRE STRIKES BACK #5846

A Grass Valley radio manager invited me to be a guest on his station: KNCO FM-Star 94 or KNCO NewsTalk 830. The fiasco at the Empire Mine State Park created an uproar. The subjects as well as the Empire are news about the Sixteen to One.

I made no public comments about the Empire since completing the adit in 2005. I also turned down earlier invitations from the station. I accepted this offer and wrote the station manager that I would answer all questions on the air. There are many topics that I have not commented on regarding gold mining and the industry. It is a large are for discussion and starting with California Gold Mining 1A is not my desire. I look forward to the broadcasters’ questions.

The interview is March 13, 2014 from 1pm to 2pm. If you have questions, call into the station(530) 2723424.

[Michael Miller]

in reply to: Stock exchange listing #5845

First, I appreciate your thoughts below. Our trade action lately is so bizarre. Recently, someone wanted to negotiate a loan to us based on the company’s value according to these trades. It was unacceptable.

Traders always keep shares in street name with the broker in order to make quick transactions. A clearing house like CEDE holds the shares one of two ways: NOBO or OBO. The NOBO is a Non Objecting Beneficial Owner and an OBO is an Objecting Beneficial Owner. We get a list of the NOBO’s if requested for a fee. Thereby we know the number of shares, geographic location and name of the shareholder. The OBO’s are owners who want to remain anonymous. We haven’t a clue who they are.

In the past, share certificates were ordered by the broker upon request by the client without a charge. Then a modest charge was required to offset either or both the expense from the transfer agent and broker. It was a courtesy offered by brokers to keep clients happy. A company cannot demand this or follow the path of street name sales and purchases…impossible.

On our FORUM stock topic, our company cannot allow existing shareholders to offer stock for sale without the corresponding stock certificate and written instruction by the seller. When a match is made, we act like an escrow agent (without a fee) to carry out the transaction. Transfer costs are between the seller or buyer depending on the amount of dollars exchanged.

I stand by my suspicions that as the volume of share transactions per hour increased on NASDAQ, NYSE and other marketplaces, the established method was not quick enough to handle the traffic. Short cuts were made and now due to apathy by stock market investors, share certificates are being phased out. There will be a financial storm someday. There will be computer challenges that cause havoc in the share accounting process and some people will lose or have the burden of proof to right their situation.

As to who pays? Owning a stock certificate is similar to insurance. We pay the inconvenience or price for security. Since this silly market game of selling/buying OSTO shares for pennies has some unidentified gamers, their financial stake is negligible. They don’t need insurance.

Other reasons apply why a corporate president should take an interest in stock trading. Gamers who like to short stock do so by borrowing the shares from someone. For example, I could make my shares available to a stock shorter for a fee, and he would be covered. Brokerage accounts don’t allow naked shorts or they did not in the past. Where does a short seller get shares then? Why he borrows them from a depository like CEDE, your stock.

I got into the stock market when I was ten years old. My dad speculated as well as investing. He promoted a project to drill gas well test holes around Vallejo, California in 1952. I addressed the mail out pamphlets. My pay was $100 or 200 shares of the deal. I took the shares. The holes did not support economic gas wells. I lost it all with no regrets. What I took away from that experience was the thrill, coupled with truth that the money raised was spent looking for gas. I knew this to be true because he took me to the drill rigs. I also saw his excitement and later disappointment. It was a good shot but failed.

During several periods of my life, I spent time speculating and investing. I won and lost but never lost money in a short sale trade. It is far easier for gamers to manipulate a downward plunge of price than the crawl upward.

What the public is witnessing in many small cap stock tradings are various manipulations. The largest manipulations are bogus trades to increase volume. These are not necessarily illegal acts but sometimes they are. It is not difficult for me to follow this in small cap gold stock companies. Surprisingly, gamers of the big boys do the same, but it is less noticeable due to the high volume of shares traded.

I encourage those in street name to get a certificate because it gives OSTO a name and address. Mail outs were cut back due to the need to spend all available money on servicing the mine workings. This will cease as soon as our fortunes improve. If we don’t know you are a shareholder, you won’t receive a newsletter. Also I look forward to the day when the short sellers are hung out to dry. It happened once before on the Pacific Stock Exchange. The specialist oversold and needed a seller to supply some shares to maintain an orderly market. A past director helped out.

[Stephen Wilson]

in reply to: Stock exchange listing #5843

It looks like the last sale on the pinks is $0.055

The Pink Sheets is just a daily register of “so called” market markers with their firm name and phone numbers. Completely different that “real” OTC traders that are hooked up on a computer network. To this day, I do not know how “GTC orders are handled. The result is trading through entered orders that have no standing. I have had orders in with the pink crook-sters only to see my limits danced around like they meant nothing and who do you complain to?

I think Mike has a go at unraveling this mystery with the pink-boy-(so-called)officials but it has always resulted in a dead end for him. The whole pink sheet operation exists so certain so-called market makers can rip off the public. Their rationale is: I want the lowest price to buy these thinly traded issues for I know not when I will be able to sell them for a profit in the future, regardless if there are better orders willing to purchase. And for complaining, who has the time to service a complaint for a few hundred dollars, absolutely no one. So these market makers know they can, basically, steal and no entity will ever hold them responsible. I know personally all about complaining for misdeeds in the trading arena.

There used to be small local brokerage firms that specialized in small area companies of which in California we don’t have. In Spokane and Coeur d’Alene they do have them. Just to mention a few, Dillion in Spokane and PennTrade in Coeur d’Alene.

Maybe when gold moves higher again the public will have an increased interest in California gold mines but for the moment, I don’t foresee a local brokerage house, if there are any left, specializing in the local companies.

The pink sheets could be tightened up with investor interest even now but at what expense to the company? The expense would be spending money for news releases. I could write news releases that would excite many but unless there are concrete results attaching in the future to optimistic releases, a loss of market creditability would result and so would the selling into the hands of the pink boys.

SO, for the moment we just wait for the next million or two dollar day when the news crews will be driving up the mountain to give us our free publicity and hopefully, new buyers and a better public understanding of what Mike is trying to do and the potential for rewards.

OSTOOriginal Sixteen to One Mine Inc. (OTN)Delayed quote data
3/4/2014 03:43 PM
hide quote detailed quote options chain chart help
Last:
0.055
Change:
arrow -0.011
Open:
0.10
High:
0.10
Low:
0.055
Volume:
1,500
Percent Change:
-16.67%
Yield:
n/a
P/E Ratio:
n/a
52 Week Range:
0.05 to 0.45

[Craig Robson]

in reply to: Stock exchange listing #5842

Crickets……

[Fred Cain]

in reply to: EMPIRE STRIKES BACK #5839

Oh, for cryin’ out loud! Has everybody seen this?:

http://www.sacbee.com/2014/02/13/6153252/california-ditches-empire-mine.html

I’ll copy and past the entire article below, but very briefly the Empire Mine Adit Project is dead. That’s right, DEAD! I don’t understand this. They spent all that money now they’re gonna just walk away from it.

There are old underground mines all over the country that offer an underground tour but for some bizarre reason, the state of Calif. can’t seem to get this right.

One thing is for certain: I will never go visit the Empire Mine State Park. I don’t need a surface tour of a nice park. If I wanted a surface tour of a nice park, I’d go to Sequoia.

But for an underground tour, I’ll guess I’ll come to the Original Sixteen To One!

Here is the rest of the article copied & pasted:

California ditches Empire Mine tunnel tourism project in Grass Valley

By Peter Hecht
phecht@sacbee.com

Published: Thursday, Feb. 13, 2014 – 12:00 am

Last Modified: Thursday, Feb. 13, 2014 – 1:52 pm

In Nevada County, this 850-foot tunnel into history was supposed to be the crowning attraction for a region whose heritage is gilded with gold.

In a project 23 years in the planning, the California Department of Parks and Recreation spent $3.5 million so tourists could board ore-style carts that three 1950s battery-powered “locos” would pull deep into the legendary Empire Mine in Grass Valley. Amid the underground chill, and in a horizontal passage built in 2005 with steel beams and framing that soon rusted to an earthy brown, they were to travel into a mine whose 367 miles of deep shafts yielded 6 million ounces of gold.

Now it appears that all this heralded tourism project has yielded is a modern-day boondoggle.

State parks officials froze the project in 2012 because of concerns that corrosion in many beams threatened the structural safety; and they recently announced they will not spend more money on the project. They said it could cost $1.4 million or more to make repairs, plus untold amounts in long-term maintenance. The endeavor is now considered dead.

The outcome has left Nevada County officials and members of the Empire Mine Park Association, a volunteer group that secured a $600,000 state grant to support the project, frustrated and angry.

“When we got the word that this was being shut down, several of us had to manage our grief,” said volunteer Jim Dierberger, a retired architect and past president of the park association. “It was like a family member died. Some of us are still reeling.”

In October, the Nevada County Board of Supervisors passed a resolution urging that repairs be completed because the project would pay off in tourism with “thousands of future visitors.” They were to be drawn to underground displays, including an 1860s mining drift and grizzled-looking mannequins staged to depict miners and technologies from different eras in Empire Mine’s 106-year history.

As part of the $3.5 million in state spending, the Empire Mine Park Association used grant money from the California Cultural and Historical Endowment to build an 1880s-style visitors center and ticket office, where tourists were to pick up their hardhats, raincoats and headlamps. The volunteer group, which was to run the attraction, also used grant funds to buy the battery-powered engines from a Canadian mining company for the underground excursions and construct a building for their storage and maintenance.

But a 2012 inspection report by the state fire marshal questioned the structural integrity of steel beams, which a private contractor erected every four feet to support the horizontal tunnel, called an adit, into the mine. State parks officials put the project on hold, saying as many as one-third of the beams may have been weakened by corrosion.

It didn’t help that the project came to fruition as the state faced serious budget problems. Officials say the state parks system faces $1 billion in unattended maintenance.

Last week, chief deputy parks director Aaron Robertson said the state had no interest in moving forward. “We just did not feel it was the wisest decision to spend additional dollars on a project where we didn’t know where the end was,” he said.

In rural Nevada County, the Empire Mine State Historic Park is a major draw that brings in 110,000 visitors a year, including 60,000 paying guests. They hike miles of trails, visit the gardens and regal English manor – the Empire Cottage – of San Francisco businessman William B. Bourn Sr., whose family took control of the mine in 1869. They tour the mine head frame, machine shop, blacksmith and refinery room and climb down a small set of stairs where miners used to descend deep into the shaft in a cable-operated “man skip.”

For regional officials and park volunteers, the adit project and its underground tour into the historic workings of the mine was to be the crowning attraction.

Larry Skinner, a retired Del Monte foods executive who serves as president of the Empire Mine Parks Association, said as many as 200 local volunteers – “retired insurance people, teachers, airline pilots and salesmen” – had donated time to help make the underground tour a reality. Under supervision of parks officials, many helped install water lines, electricity and high-pressure air circulation to the adit, seeking to reduce taxpayer costs.

To the volunteers, the idea that the state parks department no longer considered the adit project worthy of its budget seemed incongruous with the legacy of a mine that produced gold worth more than $8 billion in today’s dollars. The Empire Mine association offered to spend $50,000 for an engineering study on repairing the beams and pledged a fundraising drive to help pay for the work.

Skinner argued that the bulk of the corroded beams are located in a stretch of tunnel that is solid rock with no risk of collapse. “A lot of them,” he said of the beams, “are not holding up anything but their own weight.”

Last month, Skinner fired off a searing complaint to Anthony Jackson, a retired U.S. Marine Corps general who oversees state parks, saying the department was killing the project based on “unsubstantiated and erroneous information.”

“This represents an enormous loss to not only the community and the park system, but also to the taxpayers of this state, who will have spent over $3.5 million on this inaccessible hole in the ground,” Skinner wrote, adding some italics for emphasis. “Is this really what you want us to do?”

In a Feb. 4 response, Jackson wrote that state parks across California face significant fiscal challenges and deferred maintenance costs due to years of state budget shortfalls, and that it wasn’t prudent to proceed with a project presenting “significant safety concerns.” He said parks officials had decided to stop funding the project “permanently.”

“Currently, the adit is unsafe and in need of critical repairs and ongoing maintenance,” Jackson wrote. “As stewards of the people’s state parks, the department is obligated to ensure the viability of cultural and natural resources in the entire system, as well as the public safety.”

Soon afterward, the Empire Mine Park Association put out a position paper. It declared: “The long anticipated Underground Tour at the Empire Mine State Historic Park now appears to be ‘history’ itself.”

The park association is trying to figure out whether it can salvage modest tourism benefits from the visitors’ center – where the mannequins are now packed in a closet – and the vintage-style maintenance building – where the parked “locos” and ore carts are unable to roll down the tracks into the new Empire Mine adit.

Recently, a county supervisor and park volunteers took a fraction of a tour into the tunnel that is to remain closed to the public.

“I understand there are challenges and budget priorities, but I hope we keep the door open on this,” said Nevada County Supervisor Terry Lamphier, who drafted the county resolution asking park officials to revive the project. Standing in the cool air, amid the rusted steel framing, he said: “It would be a good return for the taxpayers and very good for the local tourism economy. Never say never.”

A few dozen yards in, the delegation turned back. Due to structural concerns, state parks officials said, it wasn’t safe to venture further.

Read more here: http://www.sacbee.com/2014/02/13/6153252/california-ditches-empire-mine.html#storylink=cpy

[Craig Robson]

in reply to: Stock exchange listing #5838

The sell order is through E-Trade and only for 750 shares, if I went through my UBS account for the 1,000 it would have a better chance of being filled.
If it’s a all or nothing order? it’s not going to make it. It would be pricy and big loss going through UBS…
Sloppy writing, out/out have a great weekend all, I’m going placer mining.

[Craig Robson]

in reply to: Stock exchange listing #5837

Hi Fred
Good news, looks like the miners did pull out fifty or more ounces out in 2013.
Just to see what happens I put in a sell order at .25 cents, not that I want to sell it’s to see if we can get some positive movement going.
Thanks

[Fred Cain]

in reply to: Stock exchange listing #5836

On the subject of our “grey” shares, the last trade was for six cents. Now for several days I have had an offer in my brokerage account at Vanguard for 1,000 shares at 25 cents.

So far there has been no takers. What gives? Makes me a little suspicious. What if I changed my offer to three cents? Maybe then those ding dongs would sell. I just can’t figure.

Regards,
Fred M. Cain

[Craig Robson]

in reply to: Stock exchange listing #5841

Mike
That’s not the reason I was trying to sell at a quarter, it was to get positive movement on the the pink sheets..
It may sound easy to do but it’s not, It would be very pricy if not impossible to get my shares out of UBS ( over 25,000 ) and get them up to you to get signed..
Look at other mining companies on the sheets and they have almost daily movement..
That 96,000 trade day was the most I have ever seen traded. If someone inherited those stocks and looked at the movement of the stock they wold tell their broker to get what they can and sell it all…
The way I see it you should welcome pink sheet trades, and E-Trade will search out shares that are not in their system..
Thanks for the reply
Craig

[Michael Miller]

in reply to: Stock exchange listing #5840

Rockroby,
Just because, I am willing to but 750 shares at $0.25 ($187.50) but I do not have an E-Trade account. I want a certificate in order to secure my ownership. Any ideas on how to do this? I have one idea. If any reader of this forum has an E-Trade account and purchases these 750 shares, I will send them $235.00 for the certificate.

[Fred Cain]

in reply to: Stock exchange listing #5835

Does anybody on our forum know if there are any other small, publicly traded mines that are mining with rail?

I have found The Original Sixteen To One and The Ruby Mine. Are there any others?

You may post this information or contact me off list.

fredmcain@bringbackroute66.com

Regards,
Fred M. Cain

[Fred Cain]

in reply to: Stock exchange listing #5834

Mike,

Thanks for your post and update. The posts you mentioned from 2002 and ’07 are most interesting and informative but it’s still nice to get an occasion update.

Obviously, I must have some faith in what you are doing or I would not have bought shares in the mine. Is it high risk? You bet! But you have a most fascinating and historic operation and I have a desire to be a part of that in the only way I can right now.

I would like to mention something about risk. All investments have a certain amount of risk and not everyone has a firm understanding of risk. If you put your entire life’s savings into an F.D.I.C. insured bank account, you are STILL incurring risk. In that case you have a high risk of seeing your investment get eaten alive my future inflation. I know so many people who just simply do not understand this. They wouldn’t touch any stock with a ten foot pole ‘cause stocks are “too risky”. Better to put it in the bank where “it will be safe”. Wrong – dead wrong.

A pretty safe way to invest for the long term is in a mutual fund. Mutual funds spread your investment around over a large number of companies which lowers company risk. In the case where one or two companies “blow up” and go bankrupt, it doesn’t affect your overall investment very much.

An excellent way to invest in mining is in the E.T.F. “XME” which is actually a fund that invests in “baskets” of mining stocks and is traded daily on the open stock market. But operations like the Ruby Mine or the Original Sixteen To One are just plain fun so putting a little bit into to those doesn’t hurt a bit. As things stand right now, I am satisfied with my investment in the Sixteen To One.

I would really like to know where we stand on the legal situation (the Clean Water Board) mostly out of a friendly concern more than anything else because it really does affect us all. Someone suggested that some of these topics would be more appropriately addressed over the telephone than on the forum and I agree.

I would love to call you and talk to you about this but I know you are very busy – and so am I 🙂 Nevertheless maybe we’ll finally get around to it one of these days! The shareholder meeting? I’d just LOVE to come but it’s not looking very promising from my end this year, either. Oh well. Maybe someday.

Regards,
Fred M. Cain

[John Vogler]

in reply to: Stock exchange listing #5832

I should have saved the financial statements that came with my shareholder package. I am assuming that the Sixteen to One has liabilties that must be considered when looking at the assets. In addition, I consider “legal skirmishes” to be potential liabilities,

The news page of this site doesn’t have news of any finds of gold, even in insignificant amounts that I can find. Really, we don’t even know that there are miners actually working in the mine. If not, the chance of finding gold is pretty low. But if we want the share price to represent the real value of the mine rather than the “badly undervalued” price, investors need to see some color.

[Fred Cain]

in reply to: How to Approach Thin Veins & Cost #5831

David & Group,

Yes, that’s true! To this I could only add that you might look at the really nice photos on this page here:

http://www.northbayresources.com/ruby/rubytunnel.html

Please take note that in order to visit that page you have to copy and paste the address to your browser ’cause URL’s do not “highlight” on our forum.

If you can find it, scroll down and check out that awesome switch just outside the adit! I’d love to visit this mine someday, too, although I don’t know what their attitude is on mine tours. Hardly as liberal as Mike Millers! 🙁

Regards,
Fred M. Cain

[Fred Cain]

in reply to: Stock exchange listing #5830

Dear “Lj”,
By and large, I tend to agree with most of what you’re saying here. Anything, be it a pair of pants, a stereo, an automobile, a house or a SECURITY is only worth what people are willing to pay for it. As far as I’m concerned this means that shares of OSTO are worth somewhere around five to fifteen cents each right now.

As far as Mr. Miller supposedly insinuating that the shares traded on the pink sheets (“grey” shares if you will) aren’t “real”, I didn’t quite get that from what he’s said in the past. He has actually intended to mean (I THINK, I hope he corrects me if I’m wrong) that his shares are badly undervalued and the big brokers who trade large blocks of his stock are completely unfamiliar with his mine and might not know what they’re doing. Indeed, he might be right about that.

For a case in point, if you take all the shares outstanding and multiply them by 0.07 you get a figure somewhat over a million dollars. That is actually LESS than the standing timber on the mine’s property and the real estate around the mine are worth. Something is indeed wrong with this picture.
So, although I stick by my premise that the shares are only worth around 7 cents right now (because that’s probably all you’d get if you sold them at the moment) they may ultimately be worth more at some point in time.
Consider also that there are a couple of other mining companies that have publicly traded stock, too, which is also trading around the same (or worse) as OSTO. North Bay Resources (The Ruby Mine) is trading for three cents. Emgold has been stuck around three cents as well for over a year now. Sutter Gold has been trading up and down between about 10 cents and 28 cents over the last year. Are their shares undervalued as well? Who knows? The only danger in owning them is if the company goes out of business altogether – then you’re stuck.
What *I’D* like to know about OSTO, is how much of this mine is actually being operated right now, how much is flooded, how to we get the mine dewatered and the operation expanded and where do we really stand on a couple of legal skirmishes? I hope that at some point in time I might find the answers to these questions but I can also understand that it might not be prudent for Mr. Miller to post them on this forum.

Regards,
Fred M. Cain

[John Vogler]

in reply to: Stock exchange listing #5829

I have re-read some of this thread, and am still wondering about the so called “grey market shares.” I hold shares in the Sixteen to One Mine in my brokerage account. I also hold shares of Apple Computer. I assume that Charles Schwab is reputable, and that my shares of both have value.The value of anything is esentially established by what a willing buyer would pay for it, and a willing seller would sell it for, so the price of the shares of either of these is unimportant. I am not going to bother having my brokerage produce certificates for either aapl or osto. But statements in this discussion seem to imply that somehow the Sixteen to One Mine shares at my brokerage are not “real.” Mr. Miller has does nothing within the discussion that I can see to support, or establish that the Sixteen to One Mine is a real company that deserves to be traded on the open market. Rather, he implies that only the shares signed by him are real. I would think that having shares traded on the stock echanges is a good thing. Am I missing something?

[Michael Miller]

in reply to: Stock exchange listing #5833

Most small traded gold mining companies will never show “some color”. Their game is always a promise, called in mining lingo, exploration. The fearless ones combine some words to suggest that some color may be beneath the surface of claims they operate. Those fearless ones are betting that authorities will not come after them for stock fraud and manipulation.

Check those junior financial reports closely, especially the revenue of the income statement. Do they show revenue from gold? Most do not. Check the balance sheet as well. Most small (and surprisingly Barrack and Newmont) continue to issue millions of shares each year. Dilute, dilute, dilute. This is how they fund exploration.

Most small gold mining companies do not own the land they plan to mine. Even most of the big guys don’t own the real estate; they maintain a mineral right subject to the federal government’s laws. How secure is this? Do you know that a major concern of all natural resource companies is that once they invest millions of dollars outside the US, governments are changing the rules. Companies are walking away from serious investments due to government fickleness. Today those few companies that actually mine gold on unpatented mining claims are concerned about Congress passing a new royalty on production.

The means for Fred and lj to grab their concerns are already explained here. I looked back to when this topic first appeared and read input from AuHound (May 15, 2002) and Bluejay (June 15, 2002. It is a worthwhile trip. My first participation in this topic was on June 7, 2003. When you get to April 26, 2007, a letter from an outraged shareholder appears. Interestingly a reference to April 2, 2007 in Correspondence from the President topic adds fuel to the stock pricing situation.

Many qualified people with valuable information have participated in this topic. For Fred and lj, there is much for you to ponder about your questions, especially Fred with his writings in How to Approach Thin Veins & Costs. I highly recommend you start here. More comments tomorrow if I can get away from the mine.

[Fred Cain]

in reply to: How to Approach Thin Veins & Cost #5827

I just recently learned of the Ruby Mine also located in Sierra County. I guess North Bay Resources has been involved in project to reopen the mine.

I sent them an e-mail asking if they would continue to use their mining railway in the mine and the response I got back was something like “Yes, absolutely”.

Like Emgold,their stock is currently trading around 3 cents. But like the Sixteen To One it may be undervalued.

I am thinking about getting some. Comments?

Regards,
Fred M Cain

[David Ingraham]

in reply to: How to Approach Thin Veins & Cost #5828

If you have interest in the ruby mine, you need to look up the web site for NBRI. Clik on the Ruby mine project. Read the geoligist report. The ruby is in Production.

[Stephen Wilson]

in reply to: Miscellaneous #5826

Back in 1966, the Beatles released their song “Taxman” as a protest against the 95% “supertax” rate introduced by Harold Wilson’s Labour government, which the band had to pay. The point is, taxes do not go to help the people as much as the socialists claim. Most go to government employees and now we face massive promises and unfunded pension plans. These people have paid themselves so well, it is no different from Yanukovych’s corruption, just not to such an extreme. Nonetheless, these government officials are lowering the standard of living for everyone else and driving the unemployment rate through the roof. They cannot see that a public servant is no different economically from having a maid at home who consumes your income and adds nothing to it. What is worse, the maid has access to your bank accounts and gives herself a raise whenever she spends too much and it is your problem if there is not enough left in the account for yourself.

Martin Armstrong

[Author]

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