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- in reply to: Clips from Alleghany #5704
Bluejay,
I, too, bought EmGold and Sutter recently along with OSTO. I also bought Hecla and Newmont. I should’ve waited a little longer to buy those last two since they are cheaper now than they were but, what the heck? Who owns a good and reliable crystal ball? Not me. If these two companies stay cheap or fall further, I’ll get some more, that’s all. That helps lead to what some people call “dollar cost averaging”. I am unfamiliar with Probe but I will most definitely look into it along with the companies that our friend “CW” pointed out.
I am truly fascinated by the mining industry. You might even say I have a “passion for it”. I think I’ve always been that way; it’s just that it never occurred to me until recently to buy shares in it. I think this is a great business to be in and that’s especially true of the Sixteen To One. One of these days they will probably hit something under the mountain leading to another “big payoff” as you suggested.
You mentioned the “responsible miners with a love of the land” and the “hard working miners” having a “bright rainbow”. You know, maybe I’m wrong about this, but I actually see somewhat of a similarity between some of these miners – especially the ones at mines such as the Sixteen To One or Bonanza Mines – and the small family farmers in the Midwest. These people are attached to the land and are a part of the land. They would be doing just fine if only the government would leave them hell alone.
But the wind can only blow in one direction for so long. One of these fine days, the American people are going to get fed up and yell “enough” and put some politicians in power that will reverse course and rein in some of these insane regulations. At least one can hope. Hope springs eternal.
Regards,
Fred M. Cain
in reply to: Gold Enters Major Bull Market #5703I like your points and you have brought out some good ones here. Although I personally believe that gold is in a major “bear market” (by the 20+% drop standard, that is), I am also a firm and adamant believer that the long-term direction is up which is what you suggested below.
Based on the way other bear markets have performed in my lifetime, I strongly suspect that the worst of the gold drop is probably already behind us. Sure, it could still fall another 200 points or so as you suggested but that would still put the worst of the rout behind us.
Since I first became involved with stock investing around 1996, I have witnessed and survived two ravaging and painful bear stock markets. First, the “pop of the tech bubble” in the year 2000 which led to a painful, 3-year bear market and then, far worse, the “financial crisis” bear market that started in the fall of 2007 and ran until March of 2009 when it finally hit rock bottom.
Amazingly enough, my railroad stocks held up quite well in both bear markets and actually helped prop up my whole portfolio. That was a good case in point of how the standard and accepted knowledge and advice of the “experts” may not always hold water. How many financial advisors recommended people to beef up on railroad stocks at the start of these two bear markets? I didn’t see any. This helps confirm another point that you made below that what the television, newspapers and books guide people to do is often wrong.
Please don’t get me wrong here, either, I am not blowing my own horn ‘cause my decision to beef up on the RR stocks was dumb luck and not “financial genius”. It happened because I was interested in railroads and wanted to be in the business, that’s all. And that’s the way it is too with my mining interest. I bought OSTO ‘cause I am interested in the business and not because I think it’s a fast track to “get rich quick”. But sometimes, buying stocks in a business that you are really interested in can have payoffs as my experience with the RR stocks has shown.
Getting back to the 2007 – 09 bear stock market, we saw many, many people panic and bail out right near the very bottom of the rout. Those poor people essentially locked in their losses. What a shame. I very nearly did that too but something just told me to hand in there and “this too shall pass”. It did and I thank the Good Lord that he gave me the help I needed to “stay the course”. Tragically and most ironically, many people – and in some cases even the very same people – are now doing exactly the same thing all over again with gold! They are panicking again, selling and locking in their losses! They just don’t seem to “get it”.
The biggest mistake I made during the financial crisis was that I didn’t put a bunch of money into stocks near the bottom of plunge. Alas, that couldn’t be helped ‘cause I was very worried about losing my job, too, and was afraid to part with any extra cash that I might have needed to live on. Thankfully, it never came to that. I’d say we all have a lot to be thankful for. It’s so easy to forget that.
Regards,
Fred M. Cainin reply to: Gold Enters Major Bull Market #5702Fred,
My advice to you is don’t believe everything you read. I am a long term investor and all my years of experience tells me that I have survived by being a creative thinker not by listening to talking heads with their rules and standards. Bill Gates left school for the reason that Einstein did, creative thinkers are not supported by so-called learning institutions.
Just look at Mike Miller concerning mining, he did it all from step one many years ago. Mike must have read some ” how to do manuals” but I’m sure he’ll tell you that most of his knowledge came from his own hands-on experiences.
I know how difficult it is to gain experience and some might think gathering as much reading material on a subject might replace the field experience but it doesn’t. Einstein was once referred to as a high school pupil without much future. Conformity in school was not his thing. He went out on his own and did it.
Martin Armstrong once told me from federal lockup that i was lucky to be creative. Some of my original works have been approved by such men as James Sinclair and Gerald Loeb.
What I’m saying is, don’t take someone else’s word for it, discover it for yourself.
I would venture to guess that about over 95% of the public believes gold is in a bear market by some cooked up standards. I don’t use these standards, I have my own.
My friend Martin Armstrong states this morning, it is very likely that gold will bottom out just above or just below the $1000 mark. This whole thing could end in a matter of weeks with at least a quick $200 point drop, or it couldn’t. We’ll see.
In conclusion: Gold has been in a major bull market since 2003 when I drew reference to it on these pages when the crossing of a major average line first took place.. The most violent sell-offs take place during long term bull markets. The most violent rallies take place during long term bear markets. A long term bull market or bear market to my eyes is in place when a particular item is above of below its 1000 week moving average.
I learned this from my own experience, not from the television, the newspapers, the internet or from books.
IF one would frequent the pages of armstrongeconomics.net you just might discover some facts that you never knew about and some guidance that might save you.
in reply to: Miscellaneous #5698Squeeze The People
in reply to: Clips from Alleghany #5701I own quite a few juniors out of Canada and a few here in the US like EmGold and Sutter Gold. I bought the California ones, along with OSTO, because I want to participate in the resurgence of gold mining in California. It still hasn’t happened but I would like to participate if comes to fruition. Call me a dreamer but I guess that’s what I do, inspired by California’s past gold mining glory days.
I own one in Canada by the name of Probe Mines. It’s treated me the best of any of my holdings. They have a great story, a great president/geologist and are loaded with cash along with the fact that Agnico Eagle Mines owns over 10% of the company. During this big sell-off in gold it’s holding up fairly well. I strongly suspect there is a future with this one. Even owning a little will keep you well placed for a possible pay off as their gold resources continue to expand at their Borden Lake property in Ontario.
Concerning the Original Sixteen to One, there is only time between now and the next big pay-off day. How do I know this, easy.?That’s the way it has ALWAYS been.
Now if some of these so-called appointed regulators get laid off with California’s shrinking budget, along with federal government layoffs that have to come, things may slowly change back to normal when the hard working miners actually had a bright rainbow to follow minus the uninvited government trouble makers.
My advice to people who believe they are qualified mining regulators, get your own house straightened up before you start messing up the lives of our caring and competent miners in Alleghany. We don’t need you nor do we want you. We are responsible miners with a love of the land. Sometimes governments really suck in stupidity. They are sucking money out of everyone because they can’t even square off their balance sheets.
It’s always been about the money.
in reply to: Clips from Alleghany #5700CW,
Thanks for the information. I’ll check into those companies to see if they’re still around.
I have noticed that a couple of the so-called “penny stocks” I’ve been watching (Emgold and Sutter) have kind of been holding their own in the recent gold debacle. They’re volatile, but they’re hanging in there. Sutter rose back up to 22 cents this morning after trading lower the last few weeks. Then later in the day it was down again.
Oh the hydraulic mining, it used to be that you could see a long stretch of it along the railroad tracks there plied by Amtrak between Blue Canyon and Colfax somewhere. The vegetation has never fully recovered from the damage. That is the kind of thing that, unfortunately, gives miners a bad name. That’s really a shame because mines like the Original Sixteen To One are really very environmentally friendly.
Regards,
Fred M. Cainin reply to: Gold Enters Major Bull Market #5699The standard and most widely accepted definition of a “bear market” is a 20%+ drop from the most recent high. Using that definition, gold is now in an official bear market. How low will it go? Who knows?
What really has me totally baffled is that stocks, bonds and precious metals are now all falling in lock step. That’s not supposed to happen. Where are the investors who are panic selling right now putting their money? Beats me – unless it’s leaving the country. That could be I guess. Anybody else have any ideas?
Regards,
Fred M. Cainin reply to: Gold Enters Major Bull Market #5697Gold $1250.70 OFF $26.90
Silver $19.01 OFF $0.63From Martin Armstrong, he still maintains that gold will make a monthly low in June and a daily intra day low in July.
As gold investors are feeling the pain, one must remember that the 2008 takedown of gold was orchestrated by the big NYC banks because they were in trouble and didn’t want folks taking their money out for gold, so they all got together and destroyed the price stability of their competitor.
It is feared that a repeat of the 2008 big bank activities in now in continuing progress. Selling during the 2008 crush was what they wanted to scare people out of their gold positions and put their money back into the banks. Well this time it will be different for depositors as they will be bailing out their banks personally during the next expected crisis. These are being commonly spoken of in the newspapers as the new bail-ins.
It’s quite possible that Asian selling tonight will carry over into the morning NY paper gold market.
Not selling during these waterfall price events takes courage. Scraping together some money to purchase some gold coins at these prices and possibly lower is what I am doing.
This current selling mode could take prices even lower but it is highly unlikely they will remain at these extreme levels. And out of this crash and burn drop a Phoenix will emerge taking gold to all-time highs again.
in reply to: Clips from Alleghany #5696sorry – that was off topic for this category. Move it elsewhere if you wish…
in reply to: Clips from Alleghany #5695Please understand I am in no way recommending any of these, or the two earlier – just merely pointing out the fact they are (or were?) based in the USA.
-Golden Star Resources
-Royal Gold
-Freeport-McMoRan
-Dutch Gold (might be gone)
-Gold Reserve (was in Spokane, but mines in Venezuela – could habe been nationalized…)
-McEwen MiningAnd of course the one that is always the most upfront in disclosing and disseminating info to shareholders — is the Original 16 to 1…
No doubt there are quite a few privately held juniors still around in the USA. I think I even read somewhere that they were considering dusting off some of the old gold mines in Alabama – who knew…
Some good history with Homestake Mining, which was bought by Barrick ~10 years ago. They were the longest listed company on the NYSE at the time!
Also interesting history with North Bloomfield near Nevada City with the Malakoff (sp.?) Diggings. They were the kings of hydraulic mining, with water cannons so large and powerful that a man could not strike a crowbar through the 6″ water stream! They dumped tailings into the Yuba River, and farmers in the Delta sued – essentially ending hydraulic mining in CA. I think there is a park or historical landmark near Nevada City, or somewhere, where they operated.
in reply to: Miscellaneous #5694Jim Sinclair’s Commentary
The most endangered species on the planet is the pensioner
California on the Brink: Pension Crisis About to Get Worse
By Elizabeth MacDonald
Published June 12, 2013A growing number of key California cities are a lot worse off than previously thought, thanks to new changes coming in the way state and local governments must account for their pension costs.
The pension changes from Moody’s, and separately the Governmental Accounting Standards Board, scheduled for this month, could result in Los Angeles, San Francisco, San Jose, Azusa and Inglewood joining fiscally troubled Stockton and San Bernardino, among others, as severe credit risks. It’s all largely due to soaring employee retirement costs, according to new analysis based on the methodology by Bob Williams and his team at State Budget Solution (SBS), a non-partisan organization that studies state budget crises.
The new rules could nearly double California’s unfunded liabilities to $328.6 billion. Moreover, California cities that have already filed for bankruptcy protection, like Stockton and Vallejo, will fall deeper into the red.
Officials in these California cities did not return calls for comment.
in reply to: Miscellaneous #5693The credits below belong to Martin Armstrong:
in reply to: Miscellaneous #5692If you don’t trust people, spy on them
British intelligence GCHQ has spied on the Transatlantic fiber optic cable grabbing ALL German e-mails and phone calls. Just what the hell is going on in this world? This is like a jealous girl/boyfriend trying to make you account for every minute you are not with them. Enough is enough! Any politician who defends this nonsense should be run out of office PERMANENTLY. There is nobody guarding the guards. There were 19 guys + perhaps a camel who attacked the World Trade Center. Government knew all about that plot 1 year in advance because the FIRST World Trade Center Bombers drew the twin towers on the wall of their cell at MCC New York on level 9 South with planes going into it one year BEFORE! I suppose that was not reliable because they didn’t have to torture them for that info. Yes the correction office was Wm Kumb and no NY Newspapers would dare report the truth – New York Times included. This is why they created Homeland Security to gather all evidence from the agencies who had the info. They don’t want to publicly acknowledge that one.
So let’s see; we need to seize everything to keep society safe when they could not stop the Boston Bombers who used cell phones. The more you seize, the long it will take to sift through everything and you will NEVER prevent an attack tomorrow. The truth? They are too busy looking for taxes and money to seize while pretending to be looking for terrorists – good one! The real formula:
Terrorists = More Power = more TAXES
http://www.guardian.co.uk/uk/2013/jun/21/legal-loopholes-gchq-spy-world
in reply to: Clips from Alleghany #5691CW,
Yes indeed! You are right! For some reason I really thought Newmont was Canadian, too. I thought I saw that somewhere.
But their website lists Denver as the location of the H.Q.
So, that’s good news. I am not familiar with Coeur. Maybe I’ll check that one out, too!
Thanks again!
Regards
Fred M. Cainin reply to: Clips from Alleghany #5690Fred – per your 6/20 post:
I think there are still quite a few US gold companies. For instance, Newmont is in Colorado (or at least they used to be).
Coeur is silver, but they are US-based.
in reply to: Clips from Alleghany #5689I was looking at the “AccuWeather” radar map and it looks to me as if Northern California is receiving some rare early summer rain!
I sure hope that reduces your fire danger in Allegheny!
Regards,
Fred M. Cainin reply to: Miscellaneous #5688Me feels that most politicians suck.
Our political governments are infested with lawyers who know how to write and prosecute laws, but are braindead when it comes to creating an economy. They have ZERO skills in the creation department This is the same disease that kills corporations. It is the entrepreneur who creates the entity from his vision (Henry Ford, Steve Jobs), but then the company is taken over by the accounts and lawyers who dominate the board. People like Steve Jobs are thrown out for they can only create, not manage. Then bureaucratic corporations, like government, are incapable of creation and this causes them to take over start-ups paying a fortune to kids who can create because the board of directors lack those skills.
Eventually, the corporation dies void of any creative skills. Government follows the same exact path to extinction. In ancient history it was called becoming Byzantine. Over-regulation to the point the cost of government was so oppressive the economy simply died. The same pattern emerged in Venice as the state wanted to own everything. When Florence because a corrupt bureaucracy, the same fate awaited it in the dawn. Genoa rotated the office of the Doge on an annual basis. That prevented an infestation of bureaucrats and allowed Genoa to outlast both Venice and Florence. Hence – term limits are ESSENTIAL!
Martin Armstrong
in reply to: Gold Enters Major Bull Market #5687Bob Reiner speaks on gold. From this morning’s International Forecaster:
Similarly, his replacement isn’t going to want a world depression on his or her watch. So, the only way they know to ward that off is to print more and more. Thus, it is my opinion that talk is cheap, but a year from now QE of some form will not only be in place, it will probably be bigger than it is now.
Which makes things even more bizarre. Look at what happened to Gold this week. On Thursday alone it was down 90 bucks the ounce. Yet once again people were clamoring for it. Physical gold sales once again boomed. Now, we’ve talked about the idea that the Central banks want people pushed out of gold and silver. This isn’t’ a joke, you don’t naked short the paper gold market time after time, pounding it lower because it’s the fun thing to do. No, you do that when you have an agenda. So, what is the agenda?
Gold is migrating from West to East. Places like China have been around a long long time. They have many thousands of years experience seeing what different dynasties have done with “money” and also know that gold got them through it all. China wants all the gold it can get, as it is of my opinion that they want the Yuan to be part of the global reserve and they want to back it with some percent of gold. But that has created a problem for the European central banks.
They want gold too. So, how are they going to get it?
We know Central banks have been buying gold this year. Actually they’ve been quite aggressive about it. But there’s only “so much” that they can lay their hands on. While I don’t totally believe the estimates, but it is said that all the gold ever mined would fit in my back yard. Maybe, maybe not. What I do know is that there isn’t a whole lot of it out there. Now, if you’re a Central banker and you’re trying to get more gold in your vaults but it is expensive and there’s not much around… what do you do? You get together and pound it. Drive the paper price lower. Drive folks out of it. Show them it’s junk and they should buy currency and stocks.
Along with attacking the prices, if you pay attention you see they’re doing things in the background that get me having flashbacks from the 30’s where the US confiscated everyone’s gold. Many don’t know that FedEx has stopped delivering precious metals to individuals in the UK and Germany. On May 23, France passed a law saying their postal can no longer deliver gold to the public. Over in India, their Government is trying to find ways to push people away from gold. Little by little they’re doing their best to discredit it, and make it harder to obtain. The CME just hiked margin requirements on Gold by a whopping 25%. Again this isn’t by accident. They don’t want “people” buying gold; they want it all for themselves.
in reply to: Gold Enters Major Bull Market #5686Gold Standard
Posted on June 21, 2013 by Martin Armstrong
QUESTION: If money was gold we would not have inflation. Why do you disagree with that? Do you like inflation?
ANSWER: Sorry. Even when gold was money in coin form there was inflation. The economy rises and falls. That is the Business Cycle. Those who advocate the Gold Standard have never invested what they claim. We were on a gold standard between 1945 and 1971 and it did not prevent inflation nor did it last.
You must investigate the past with an open mind. Let what happened unfold without trying to support a redetermined assumption. Westerners favored the new Bank of the United States before the Panic of 1819, which created open opposition to the institution. The Second Bank of the United States stopped allowing payment of debts in paper and instead demanded payment in specie—metallic gold and silver coins—which were in short supply after the War of 1812 due to a large trade deficit with Britain. The hardest hit sector was Western farmers who could not pay their loans to the Bank because they could not obtain the specie that was demanded. The Second Bank of the United States then forced western branches to foreclose on farms with outstanding loans. Westerners began to call for reform and the end of the Bank of the United States.
Can you imagine you have a 30 year mortgage bought with paper dollars, and then we adopt a gold standard. You do not have enough gold to repay the loan so they come take everything you have. Think twice before buying into that story. There is no way to make such a transition.
in reply to: Gold Enters Major Bull Market #5685Gold $1277.40 OFF $73.90
Silver $19.68 OFF $1.67Aside from manipulation talk Martin Armstrong stated it briefly today:
“This is a Spiral Collapse. There are so many people involved who just bought gold and held that there is enough fuel to see the typical required panic sell off.”
in reply to: Gold Enters Major Bull Market #5684Gold $1291.60 OFF $59.70
Silver $19.95 OFF $1.40“These markets are clearly and blatantly being manipulated.”
So says, William Kyle out of Hong Kong today who is a hedge fund manager.
Go to http://www.kingworldnews.com for the full interview of him by Eric King, it’s the most present interview.
in reply to: Clips from Alleghany #5683I never heard of “Colossus Minerals” before so I did a search. Amazing! Another Canadian company!
Is the Original Sixteen To One Mine the only gold mining company left that’s actually chartered in the United States?
Regards,
Fred M. Cainin reply to: Clips from Alleghany #5682It’s sad, no pathetic what has happened in the small cap mining market. Colossus Minerals spent time and money to issue a press release June 19, 2013) that it was actually going to pay a semi-annual note interest payment. Wow.
in reply to: Miscellaneous #5680Switzerland Show Some Guts At Last
Posted on June 18, 2013 by Armstrong Economics
Legislation that would have ended the Swiss banking laws and handed everything to the USA was defeated in a recent vote. The secrecy laws was put in place in 1934 to protect the Jews and Germans from Hitler who attempted the same thing making it criminal for a German to have an offshore account. The Sovereign Debt Crisis cannot be solved by even raising taxes to 120%. The politicians are desperate to hold on to power and cannot see their own destruction of the world economy is taking place because of their greed and corruption.
http://m.europe.wsj.com/articles/a/SB10001424127887324021104578552930613288170?mg=reno64-wsj
in reply to: Miscellaneous #5679How the politicians are destroying the world economy.
in reply to: Miscellaneous #5681How to Protect The People from the NSA – Easy
Posted on June 18, 2013 by Armstrong Economics
If this whole affair is really about terrorists, then enact legislation that states no American can be prosecuted for any crime based upon any evidence obtained from the NSA. So if ANYTHING is handed to the Justice Department, SEC, CFTC, or IRS, then a citizen shall be ABSOLUTELY IMMUNE from civil or criminal prosecution.
This would be a simple solution. They listen to a phone call and call the IRS, you cannot be prosecuted civilly or criminally – you get ABSOLUTE IMMUNITY just as government prosecutors get from prosecuting innocent people.
END of debate.
in reply to: Miscellaneous #5678Just what we need. NOT!
The G8 this week is looking to regulate mining with new laws.
“These G8 partnerships will also stress “introducing stronger legal frameworks to regulate the extractives sector by introducing new laws that make EITI standards a legal requirement,” said the PM’s office.”
in reply to: Miscellaneous #5677No public borrowing and no career politicians. Virtually every department should be privatized to prevent state pensions. Those in government just cannot keep their fingers out of other people’s pockets – impossible! This is behind everything from the NSA to Homeland Security. Instead of reform, they are digging in their heels to defend their right to exploit your money. Government is NOT society. They are two distinct entities.
in reply to: Miscellaneous #5676“The more corrupt the state, the more numerous the laws.” Tacitus, 56 AD–117 AD
in reply to: Miscellaneous #5675The city of Detroit defaulted on $2.5 billion of its outstanding debt. The creditors are getting what they deserve. He who lends to government depends on the exploitation of the people to get repaid. The city’s retired city workers were also warned that significant cuts in pensions and health insurance would take place. This is the problem all governments face. They promised the moon. Then when those workers retired, they had to be replaced. The cost of government is rising exponentially and this causes higher taxes and it becomes a dog chasing its own tail. There is NO way out but collapse. The economic model upon which government has been designed post-WWII is simply braindead. Dumb and Dumber could have done a better job.
The size of government escalates and this creates a deflationary vortex through which the economy is sucked dry. There is no surviving this crisis. Politicians are desperate to cling to power so they buy tanks and guns to defend against the inevitable.
Martin Armstrong
in reply to: Miscellaneous #5674Too many regulators?
Claimed sand and gravel operation near Placerville levied $11 million in fines
for, according to the State and county, for violations in operating a gold mine.http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=194226&sn=Detail
in reply to: How to Approach Thin Veins & Cost #5673Michael,
I wish you the very best with the meeting. I only wish I could come. My thoughts and prayers will be with you nonetheless. Hopefully I can come next year!
I hope you are able to give us a full rundown of the developments at the meeting on the forum.
Best Regards,
Fred M. Cainin reply to: Miscellaneous #5672California on the Brink: Pension Crisis About to Get Worse
By Elizabeth MacDonald
Published June 12, 2013A growing number of key California cities are a lot worse off than previously thought, thanks to new changes coming in the way state and local governments must account for their pension costs.
The pension changes from Moody’s, and separately the Governmental Accounting Standards Board, scheduled for this month, could result in Los Angeles, San Francisco, San Jose, Azusa and Inglewood joining fiscally troubled Stockton and San Bernardino, among others, as severe credit risks. It’s all largely due to soaring employee retirement costs, according to new analysis based on the methodology by Bob Williams and his team at State Budget Solution (SBS), a non-partisan organization that studies state budget crises.
The new rules could nearly double California’s unfunded liabilities to $328.6 billion. Moreover, California cities that have already filed for bankruptcy protection, like Stockton and Vallejo, will fall deeper into the red.
Officials in these California cities did not return calls for
in reply to: How to Approach Thin Veins & Cost #5671Interesting activity in recent oil
and gas exploration: You all have
perhaps heard of “fracking”. Well
they are using the process and with success and they have further refined theprocess with a new method known as “octopus” ie using the same drilsite to bore in several directions thus increasing the output of a single site.in reply to: How to Approach Thin Veins & Cost #5669I was wondering if someone could tell me how much of the Original Sixteen To One Mine is actually open. If you click on “MINE” on the sidebar of the website, you will be taken to a page that offers a Map of The Sixteen To One Underground from 1998. I must say, that is a very impressive network of underground drifts and winzes! But how much of that is actually in current operation or eligible for operation?
Further back in this thread I found a post from 2010 which stated that “The current operation and the long range plan concentrate in the North Central. We will be there for another 100 years. The South Central is idle with no plans for immediate mining.”
Unfortunately, I don’t know what that means. What and where are the “North & South Central” districts?
I’m afraid that the deeper recesses of the mine might be flooded with water like the Empire & Idaho-Maryland Mines. Indeed, Michael Miller alluded to such in our annual report where he mentioned that parts of the mine need to be “dewatered”. The map shows a 2400-foot level, a 2700-foot level and a very deep 3000-foot level. Are those all flooded?
If that is the case, it would be really exciting to get the deep levels dewatered and send someone down there with the GPR equipment. Since these levels are so deep, it would be my guess that they haven’t been nearly as thoroughly explored and the possibility of a major strike would be higher down there. Then again, perhaps I’m wrong about that. Perhaps the gold-bearing quartz veins are only found at more shallow levels. Does anybody know?
Finally, what do the heavy lines and very faint lines on the map signify? Do the heavy lines signify the presence of rail car tracks or do the faint lines merely indicate that those passageways are abandoned and unsafe?
Regards,
Fred M. Cainin reply to: How to Approach Thin Veins & Cost #5670Fred,
I sure appreciate your interest to details. I have answers but right now not much time. We are preparing for the annual meeting (my thirtieth as president). While it has become a fun day for me, there is much to do to make the grounds comfortable for the owners. Some will be first time visitors to the mine and others show up on a regular basis. We expect over 130 and less than 200.We allowed the water to rise almost to the 1300 level about six years ago. Miners worked below the 2400 level in late 1990’s. We sunk a winze below the 2400 level to visit the quartz below the fault…found gold but the price dropped significantly and it was more expensive to mine that location than other targets. Pumping is like having a baby for a women or a kidney stone for a guy. While it may be always uncomfortable, the first time is the worse. Dewatering the mine will not be a problem and there is track along the lower levels.
I’ll catch up with the FORUM after this weekend. Always enjoy everyone’s input.
in reply to: Miscellaneous #5668Paranoid or Conservative
Posted on June 11, 2013 by Armstrong Economics
Securing Phone Calls and Emails should no longer be for the paranoid, but good old fashion conservative business & personal practices as long as people like Feinstein pretend to represent people instead of the government institution. We have no control over her. She was sent to do “God’s Work” like Goldman Sachs.
The problem is who is their “GOD”? It sure is not the one that says treat everyone as yourself and “thous shalt not covert thy neighbor’s goods” since that is all they are ever after.
You should talk to anyone who grew up in East Germany. When the government fell, their files on everyone came out. They threatened everyone just as the USA threatens newspapers and Google – do as we direct or else. People then renovated their apartments. What they discovered were hidden microphones in everyone’s apartment. The NSA along with Feinstein and her thugs, are acting EXACTLY as in George Orwell’s 1984 where there was a picture frame in every house that monitored what they were doing. God help us, a terrorist might come over for dinner.
What is going on down there is typical. They make a lot of noise, but expect it to blow over and everyone will forget in a few weeks as usual. Most do not take this serious and Feinstein defends her spying on everyone to her dying breath. She should resign !!!!! She is a disgrace to all the people who died for this country to defend the constitution she swept away. How can you ask people to lay down their lives to defend what people like her do not respect? She is a international disgrace.
This achieve is massive. They can call up anything on any individual exactly like the Stassi. There is no difference.
in reply to: Gold Enters Major Bull Market #5667Bluejay,
I’m sorry but I guess I interpreted some of you comments as being pessimistic on gold when in fact they were not. Based on your most recent comment below, you sound like you think gold is a good investment. It may very well be. But I happen to personally believe that a much better investment might just be in the common stocks of mining companies.
Investing in a big mining company like Newmont or Anglo Gold is probably quite safe over the long term (talking a 20 or 30 year horizon here). But big companies offer less potential for growth than smaller companies. That is actually a fairly widely held Wall Street belief and is not just my opinion.
If it is true then an aggressive investor might look for smaller mining companies like Sutter Gold or Emgold. Trouble is, these companies are extremely risky.
The Original Sixteen To One Mine offers a happy medium. It offers excellent potential and yet it has been in business for a long time. It is also an American company (many other mining companies are Canadian or foreign). It is also a most fascinating operation. So, I jumped. The only real fly in the ointment is the California Water Board fiasco. I am really worried about this but at the same time I expect it will have a happy ending but I don’t really know that for sure . No one knows that for sure.
I would like to hear from some other forum members on this issue. Perhaps someone should start a new thread on it? I have some of my own ideas and opinions about it but I’m not sure if they’re right or not. It would be nice to know what all the issues are and how we can help. For my part, I would be willing to write a few letters but I want to make absolutely sure that I don’t inadvertently make things worse. “The pathway to hell is paved with good intentions”.
And oh, yes, I’ll start checking out Armstrong, too.
Regards,
Fred M. Cainin reply to: Gold Enters Major Bull Market #5666Hi there Fred,
There is nothing like holding a piece of gold. Until last year, gold had been strong for 13 years. According to Martin Armstrong, it was time for a rest.
People believe gold is in a bear market because the U.S.press tells you so. If you remember my contributions here, I have always stated it was in a bull market. The press sells what the call news. Have they ever defined what a bear market is? Of course not!
If you want the real news get plugged into Armstrong Economics.
in reply to: Miscellaneous #5665Government is in your house.
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