Forum Replies Created
- AuthorPosts
- in reply to: Clips from Alleghany #3675
Is Kanaka Creek road open, if open how far in ?
in reply to: Clips from Alleghany #3674Hello Scoop! No bears sighted in town?
I’m curious about the snow level and snow-pack.
in reply to: Another U.S. precious metals miner goes foreign #3672The hearing for California State Senate Bill 670, is scheduled to happen April 28, 2009.
in reply to: Stock exchange listing #3669I see the trade in bigcharts, but when I research the company at Schwab, the 52 week low is $1.20. I have to guess that this low trade is a glitch in the data stream. I see it occasionally on both the up and down sides, and always check the price range to see if the outlier is real or not. I don’t know if I am correct in my assumption, but it usually makes me feel better anyway.
I will watch Sino Gold. I like BHP Billiton for similar reasons. Marius Kloppers, an engineer turned CEO, seems so good at his job that the company can’t fail. Rio Tinto, has great resources but they have cash problems, and must sell themselves off a little at a time. If they survive this slump, maybe they will also be a good company.
in reply to: Another U.S. precious metals miner goes foreign #3671We who dredge our rivers need the help of all those who want to protect the right of mining
here in California“The Enumeration in the constitution of certain rights shall not be construed to deny or disparage others retained by the people.” : this is the 9th Amendment of the United States Constitution.
This means that the rights identified as written are not the only rights we as a people have. This also means that those making laws in government do not restrict their view of our rights as only those written in the constitution. This gives the responsibility to the legislature in making law, to first evaluate the necessity for the law, that it does not take away these other rights of the people. We have identified these other rights as “FREEDOM” . The freedom of the people is in-fact protected by our constitution.
Sb670 is written to stop river dredging, when in fact river dredging has held and still holds the respect of people as a right and legal method of the miner to retrieve the valuable metal from the river bottom. For the legislature to stop this activity with out evidence of damage to the river eco-system is a false cause to protect the environment. It does not justify such restriction of the peoples right to dredge our river bottoms.
This is an attack on the rights of the people based on false cause and a clear disrespect by certain people in our State legislature who falsely represent their constituents and their obligation to defend the constitutional rights of the people. Please help by standing up to those that would destroy our freedom, and tell your state representative of your objection to SB 670, and to vote against this threat to our freedom.in reply to: Stock exchange listing #3670One issue with the OSTO trading is that there is no “depth”, or in other words there are no standing bids/offers. In most actively traded stocks there are multiple bids (to buy), and offers to sell at certain prices, similar to those on this website. With the OSTO, many times there are ZERO bids/offers. Or, sometimes if there is a bid/ask it will only be for a small number of shares, maybe 400, or 700, etc.
IF ANYONE HAS SHARES IN AN IRA (or other Retirement Plan account), and the shares are held at a brokerage in street name (and/or the registration has the name IRA Custodian), NOW WOULD BE A VERY GOOD TIME TO TAKE A DISTRBUTION IN KIND with the shares.
You can transfer shares of stock in kind out of an IRA into a non-IRA brokerage account. They should give you an option of NOT withholding any taxes also.
The reasoning behind doing this now, is that most brokerages will calculate the taxable distribution based on the value of the shares on the distribution date.
If you take a distribution of shares now, the taxable amount should be .0001 per share.
I cannot gaurantee this, nor am I giving any tax advice…
in reply to: Gold Enters Major Bull Market #3668A shareholder called this morning to say, “This is a confusing market. Gold is pushing lower. We seem to be in a total deflationary market.” The real estate/housing sector is proving to be quite influential. Maybe by deflating all other properties/commodities this is a good way to “inflate” real estate and housing or protect values in their well-recognized fall. If everything in the world marketplace declines (or increases) pro rata is there an economic impact?
Other than hot air, my life’s experiences in the market place have been this: it is easier for prices to fall than rise. Many years ago Lee Erdal, a retired director cautioned me about offering opinions on the spot price of gold. It is beyond my control or technical ability to predict. I appreciate your thoughts on the subject. I do know, however, that a little interest in gold or a real undervalued gold mine equals other forms of insurance (peace of mind). It beats worry or sleeping pills.
in reply to: Gold Enters Major Bull Market #3667Last on gold is $869.90 off $24.20
Last on Silver is $12.11 off $0.64
Gold/Silver Ratio 71.81
Gold/XAU Index Ratio 7.05Well, well, well, everyone is selling gold today. Gee, it must be nice to have the luxury to think stupid with your future.
Gold is in a decling phase prior to breaking the $1000 level sooner than most people think. This is the time you buy, not sell.
Soon after April 15th the push begins to reach the $1000 level and trade above it, to stay. The people that are selling gold today and possibly in the next ten trading days will be proven quite foolish.
Buy, Buy, Buy and Buy More!
in reply to: Stock exchange listing #3666in reply to: Stock exchange listing #3665lj
The word crook was used is a very appropriate manner.
If you go to bigchart.com and check out the price trading history prior to the mentioned trade at $0.0877 in early November of last year by selecting SIOGF, you’ll notice that the previous sale was $1.90. This $0.0877 sale took Sino Gold down by about 95%. The next day the stock opened at $2.05. Friday’s last sale is $3.80
Sino Gold is an Australian gold company that has been very successful in establishing their presence in China, the number one gold producer in the world. Currently, Sino has two operating mines producing about 250,000 ounces of gold annually with another development property looking to be their third eventual mine. Their Eastern Dragon project now has about 700,000 ounces of gold in ground at 7 g/t with 70 g/t silver.
I follow Sino Gold because I like their president Jake Klein and the way he thinks:
1- Don’t run out of money
2- Meet your forecasts and guidance
3- Make sure you take quality growth opportunities
4- Don’t break rule one
The primary market for Sino Gold is in Australia with other secondary markets in Hong Kong and New York. The NY listing is on Grey Market of the Pink Sheets listings.
Can you just imagine what the Australian market guys or Sino’s president, Jake Klein, thought when they saw that transaction? They probably thought the same thing that I said, someone’s a crook. Not only did the transacted price violate ethics and morals in maintaining a fair and orderly market, it just gave our country another black eye on how we conduct our financial affairs.
in reply to: Stock exchange listing #3663The shares are valid. They have our cusip # and are registered to Cede & Co as are all of the “street name shares”. OSTO has been on the Pink Sheets for at least 13 years (when I first started working here). We never were able to sort out the origin of the OSTO listing. The ambiguity (to the best of my limited understanding)with the gray market has to do with the fact that there is no “market maker” and brokers (or other buyers and sellers) are not able to see eachothers “bids” and “offers”.
Rae Bell Arbogast
Corporate Secretaryin reply to: Stock exchange listing #3664Thank you all for your responses. I see the problem with the person who sold for .001. I can understand how it might be possible to execute a trade with a specific buyer in mind, even yourself in another account, since the shares are so thinly traded. The lack of buyers presents a problem. It would be possible to place a GTC order at a low price to make such actions backfire. I think they run for 60 days or so before they must be renewed.
I had hoped to come to last years stockholders meeting, but a scheduling conflict prevented me from attending. I hope to see you there in June.
in reply to: Stock exchange listing #3660Check out the link below for proof that the Pink Sheet crooks do, in fact, have a license to steal.
Check out the chart shown to see what someone did to a poor seller one day on Sino Gold(SIOGF) operating in China. A 22,000 share transaction took place at $0.0877 down from the previous sale at about $2.00 the day before. The next day the stock opened at $2.02 and then was sold down a little. Guess who was selling?
If the second seller received an average of $1.90, that works out to about $40,000 hijacked from the previous day’s seller.
http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=siogf&sid=0&o_symb=siogf&x=49&y=16
in reply to: Stock exchange listing #3662To lj,
Welcome to one of over 1650 individual owners of the Sixteen to One mine and its other precious gold mines in California. The annual shareholders’ meeting is approaching…June 20, a Saturday in Alleghany. Years ago I moved the annual meeting from San Francisco to Sacramento. Then about twenty years ago, thought, “Let’s have the meeting at the mine. That’s what I would want to see as a shareholder instead of a conference room.” Please say hello if you can come. About 200 show up each year.
You asked if the Sixteen to One hope to stay out of regular markets. No. It does not hope, desire or plan to stay out of regular markets. It was a proud member of the Pacific Stock Exchange until its directors shut down the trading machines in San Francisco and closed the doors forever. That was a sad day for many investors and historians as well. In 1995 the company was passing through the American Stock Exchange’s “due diligence” process when a rotten apple snuck in and stopped progress. After the smell cleared much had changes in the gold business, including the beginnings of a lengthy bear market for gold. There is a large recorded history about Original Sixteen to One Mine’s public market on this web site. Its symbol was OAU. Now the symbol is OSTO.
You asked, “Do the shares I purchased exist?” That is a good question for Schwab’s back room department and clearing house. Schwab is a respected brokerage firm. Many shareholders take physical possession of their share certificates for various reasons. There has been speculation as to whether or not the back rooms and clearing houses kept up with the decade of high volume of share transactions.I’m not sure I understand Bluejay’s reference to crooks but will give it a try to flesh out his thinking. A Pink Sheet company is supposed to have a registered market maker. It’s a rule, unlike the Bulletin Board or the gray market. (I still don’t have an understanding of this gray market business.) A registered market makes must execute what the specialists or market makers call an “orderly market” or if he has a true book on the “market size” (bid and ask prices and volume), he can make a match.. That means that a stock should not trade (fluctuate) from $0.0877 from $2.00 and back to $2.02 in a couple of trades. Bluejay wants to know the buyers and sellers because someone either made an obscene profit or suffered a monumental loss. Either way it is not allowed, therefore it was against the rules or crooked. Maybe someone else can help with this.
I can attest to the honesty of trading when the Sixteen was on the Pacific Stock Exchange until the last weeks before it closed. The specialist made an orderly market. Then trading took a questionable path to my perspective. Now, the very limited market the company offers, as a service on its web site, is an honest market. I may not agree with the values of the trades, but it is a true representation of a limited market place. I cannot comment on your specific trade because last time I checked, the company had no market makers to maintain an orderly market. It’s not something I can hire but I have sought them out in the past.
in reply to: Stock exchange listing #3661I don’t understand this reference to “pink sheet crooks.” I heard about the Sixteen to One. I have a couple of brokerage accounts. Although TDAmeritrade did not list OSTO, Schwab did. I placed an order, and bought shares. Do the shares I purchased exist? I thought that buying stocks on the pink sheets was legitimate. Since I have never bought a stock from an individual, I would have thought that such deals would be called the grey market rather than the practice of buying through a broker. Does the Sixteen to One hope to stay out of the regular market? I really don’t understand.
in reply to: Clips from Alleghany #3659Donde esta los osos?
in reply to: Clips from Alleghany #3658Guess scoop didn’t catch the weather prediction for the weekend. They were prediting snow down to 2,500 feet by Sunday. I don’t think it got that low, but we got about 8 inches of snow here. It cleared up last night and was 16 degrees on my porch this morning! And as a reminder we ALWAYS get snow in April.
in reply to: Clips from Alleghany #3657Hey, almost forgot to mention the two videos to see and vote your preference. It will help the new video production team and someone will win a quartz and gold specimen for their effort. Why not you? Check NEWS for location of videos.
in reply to: Clips from Alleghany #3656Alleghany is a quiet little village. Most snow in town has melted. Currently raining, which will wipe out the rest of snow. Henness Pass road for snowmobiles only. Mountain House road closed just past Forest City. Kanaka Creek road passable but a struggle in places. Foote Crossing road open all the way to Nevada County and beyond.
Mine maintenance is staying ahead of mine decay.
in reply to: How to Approach Thin Veins & Cost #3655Whether large gold discoveries destabilized economies with inflation in the past would require a huge effort in determining the relationship of yields vs. inflation and the track of the gold price. Since gold was fixed, the only other example we have is silver, which fell out of use as a standardized form of money.
A really excellent chart on that relationship is available in the 10-year T-bond yield minus inflation(scroll down a bit)
in reply to: Stock exchange listing #3653Rockroby, you can buy stock. Please look under “stock” on this website to see recent bids and offers or you can try making a purchase of OSTO on the pink sheets.
in reply to: Stock exchange listing #3652When will we be able to buy stock in this great gold mine?
in reply to: Another U.S. precious metals miner goes foreign #3651I just gave my Congresswoman, Lynn Woolsey, an earfull. This should be the bare minimum for each concerned people to do, directly complain to your people in Congress.
in reply to: Stock exchange listing #3650Rockroby
Your previous question needs clarification.
Thanks
in reply to: Stock exchange listing #3649Any idea when we can start buying
stock on the open market again?in reply to: Another U.S. precious metals miner goes foreign #3654John Muir is mentioned (below) as a beacon of light for George Miller and other like-minded Americans and members of Congress. As you read the FORUM entries below and consider whether to make a pro-active effort to squash ignorance, go back to an entry under the topic “Correspondence from the President” on Page 6, written on 06/03/2003, which contains a lengthy and poignant story written by John Muir.
It isn’t too long but full of the real John Muir, a keen observer, not the altered Mr. Muir, altered to give credibility to those who make powerful attacks on the natural resource extraction industries. One sentence goes like this:
“ The importance of these ancient gravels as gold fountains is well known to miners. The hills have been cut and scalped, and every gorge and gulch and valley torn to pieces and disemboweled, expressing a fierce and desperate energy hard to understand. Still, any kind of effort making is better than inaction, and there is something sublime in seeing men working in dead earnest at anything, pursuing an object with glacier-like energy and persistence. Most of the pioneer miners are sleeping now, their wild day done, while the few survivors linger languidly in the washed-out gulches or sleepy village like harried bees around the ruins of their beehive. ”
Ah, John, you wrote so well, these thoughts and observations in 1894. Wish you were here today.
in reply to: Clips from Alleghany #3648Last week closed with an upbeat. On Thursday, miner Reid reported that the pump failed, no water was being removed from the mine. Of all equipment operations in an underground mine, pumping failures cannot wait. They demand immediate attention. One in-line submersible high head pump is handling the water needs but the pump is a long way down the 49 winze.
With the power off Reid did some continuity tests and found a three-phase 480 volt circuit breaker was not acting right. He brought it out of the mine to the shop. Some cleaning etc and it seemed okay; but was this why the pumps shut down or was the motor shot? Tommy knocker luck was with the mine. The breaker was installed, a hike back up to the 800 level, switch power back on and up comes the water. Removing a pump is heavy work and today it was not in the cards.
The cause could be the PG&E power failure during the recent storm.
in reply to: Another U.S. precious metals miner goes foreign #3647George Miller is the number one tree huger in congress. His district includes the ancestral home of John Miur. The ground zero for environmental advocacy with the Sierra Club and The Wilderness Society.
Geo Miller is one the most powerful congressmen in the House of representatives. He is a chubby guy and looks like a cross between Teddy Roosevelt and Santa Claus. He is a bad foe to have against you and dedicated to everything environmental.
Vallejo is part of his district, and was very active in the up front efforts to keep Mare Island Ship Yard form being closed. We heard later that behind the seen he supported the closure. I am not sure there is any truth to this statement other than here say.
I sincerely doubt that George Miller would represent a sympathetic representative to mining rights and Liberty. He is the one who is writing legislation to condemn the liberty and rights of mining in our nation.in reply to: Another U.S. precious metals miner goes foreign #3646George Miller may have kept a casino out of Contra Costa. I’m not familiar with Mr. Miller or his agenda. But there is an Indian Casino in San Pablo.
Tribal Organization: Lytton Band of Pomo Indians
SAN PABLO LYTTON CASINO
13255 San Pablo Ave
San Pablo, CA 94806in reply to: Another U.S. precious metals miner goes foreign #3645I believe Geo. Miller reps.
a SF Bay Area District inclu-
ding Contra Coast Co. He kept
an Indian Casino out of that
area as it would compete with
a cardroom he was involved in.in reply to: Another U.S. precious metals miner goes foreign #3644Let me save you some time in responding to the Rahall legislation detailed below.
I called to open a dialog on the subject of why and how did Rep George Miller decide to co-sponsor this legislation. After three transfers and about ten minutes I was told Miller’s personal office number is (202) 225-2095. Call this number, explain that you want to learn his justifications for co-sponsoring. He or she will listen and ask for your e-mail address, which is how his office handles this type of request. I expect to hear from him.
A different Miller employee suggested I call the Natural Resources Sub Committee, ask for energy and mineral resources (202 225-6065). He also recommended going on internet to find its members and seek out the one most representative of my district. I said that nine co-sponsors were Californians and eight other states were also represented; however natural resources are a countrywide issue important to every American regardless of our state borders.
I also picked Rep Patrick Kennedy to contact. Being smarter it took six minutes but I got a person’s e-mail address plus I left a phone message to Ben Kershaw, who handles my type of question. Rhode Island is unlike California in significant ways but this bill will adversely affect its Americans who are likely far removed from gold and other mineral producers.
in reply to: Another U.S. precious metals miner goes foreign #3643Well, we’ve received “change” ….thanks to the ignorant.
in reply to: Another U.S. precious metals miner goes foreign #3642Dear Michael Miller,
I stand in opposition to the fact of congress is once again performing an abortion on the 1872 mining law and that which is being aborted is the freedom and opportunity of American Citizens to seek and hold the mineral wealth of our nation. I ask congress not to do this. To let the 1872 Mining Law to stand as it has to provide our nation with the resources to the demand of our society and nation.
The History of the congress for the last half of the twentieth century and now the beginning of the twenty first century has done more to steal the freedom of the people than any time in the history of our nation. That the liberty of the United States is more and more being taken from us in bits and pieces by the continuous siege on the good laws that were developed to keep America free and vital. This freedom and vitality has so impressed other nations that they are now emulating us for good reason, they want freedom. That does not mean that we want any less freedom.
The examples of freedom lost are many, such as the gutting of the homestead act, so that it is only a law in name. The creation of the wilderness law which imposes restrictive use of national land for the benefit of the few. The same restriction for the wild and scenic rivers law.
All were created for a grand cause of preservation, but they shame the face of liberty for these causes prevent access by the thirsty, the disabled, and the old. The Nation has the responsibility to manage our national lands thru multiple use policy as the best benefit to all of us. To provide a safety valve for people to live when private ownership becomes so restrictively priced.
Our nation needs no change of the 1872 mining law. Our nation does need a law with regards to making laws. A law that must require any new law to be tested to the intent of the constitution by a majority vote of the house and senate prior to any law being considered for a vote of enactment. This would be a commitment by our law makers that would preserve the environment of peoples freedom and the law of the constitution that protects that freedom.
Such a law is needed when so many mighty causes of our nation would trample the greatest cause of all: the liberty and power of the people.in reply to: Another U.S. precious metals miner goes foreign #3641I’ve known Scott Harn (see below) since he took over the operation of the California Mining Journal from his father, also a solid acquaintance. The magazine is now called ICMJ’s Prospecting and Mining Journal. It can be found on line.
Scott put some extra juice in this ill designed proposed legislation. I would not be sensitive to the mining industry if I had not immersed myself in it 35 years ago. This industry is as important and necessary to the welfare of our country and its people as food production and heavy industry manufacturing. There is no employment that embodies the American creed, cultures spirit as that found in the development of our natural resources. Otherwise smart people are just plain ignorant to suggest the following be passed into law. I offer you Scott’s presentation on a shocking and troubling desire to turn America’s well being on its ass. I hope you will take time to read it.
Rahall Proposes Bill to End All Mining in the U.S. – March 2009 (Vol. 78, No. 7)
Rahall Proposes Bill to End All Mining in the U.S.by Scott Harn
Nick Rahall, chairman of the House Resources Committee, reintroduced mining reform legislation in the House of Representatives on January 27, 2009. The Congressman has obviously been away from real work for far too long. H.R. 699, the Hardrock Mining and Reclamation Act of 2009, should be labeled H.R. 666 because it appears to have been written by the Devil himself. If it passes as written, it will completely destroy an entire industry.Here are a few “highlights” from H.R. 699:· Casual use would be redefined to allow only those activities that do not cause “any disturbance of public lands and resources.” The collection of samples, use of gold pans and non-motorized sluices would be the only activities allowed without a Notice or Plan. Taking a vehicle off-road would also require a Notice or Plan. Any extraction of minerals for sale or use would require a Notice or Plan.
· H.R. 699 would be retroactive. Existing mining that is not already operating under a Notice of Plan would require proof of a valuable discovery to retain a mining claim, and those operating under a Notice or Plan would have ten years to bring their operation under compliance with the new regulations.
· The patenting of mining claims, which has been suspended by yearly legislation since 1994, would be permanently discontinued.
· The federal government would be entitled to an 8 percent gross royalty for all locatable minerals for any new mining operation. Even if the miner is unable to make a reasonable profit at current commodity prices, he would have to give 8 percent to the federal government. Existing operations at the time the bill is passed would be subject to a 4 percent gross royalty, and any federal lands added to the operation after enactment of the bill would be subject to the 8 percent royalty.
· The reporting requirements are absurd. Anyone transporting a locatable mineral, concentrate or product derived from a locatable mineral shall carry documentation declaring the amount, origin and intended destination. Miners shall create and maintain reports relating to the quantity, quality, composition, volume, weight and assay value of all minerals extracted from a mining claim. Failure to produce these reports when requested by any officer or employee designated by the federal government may result in involuntary forfeiture of the mining claim.
· The federal government would be authorized to conduct audits of all claim holders, operators, transporters, purchasers, processors, or other persons directly or indirectly involved in the production or sales of locatable minerals. · Mining claim maintenance fees would be raised to $150 per claim, and would be adjusted at least every five years based on the Consumer Price Index. The location fee would be increased to $50 per claim.
· Tens of millions of acres would be added to existing areas that are already off-limits to mining, including Wilderness Study Areas; areas of critical environmental concern; areas designated for inclusion in the National Wild and Scenic Rivers System; areas designated for potential addition, or eligible for inclusion; and any area identified in the set of inventoried roadless maps contained in the Forest Service Roadless Area Conservation Final Environmental Impact Statement, Volume 2, dated November 2000.
· Any State, political subdivision of a State, or Indian tribe could petition the Secretary of Interior to withdraw areas based on drinking water supplies, wildlife habitat, cultural or historic resources, scenic vistas or other similar values. Indian tribes could also petition for the withdrawal of areas for religious or cultural value. The bill would give the Secretary the authority to deny any operation that may cause undue degradation. To get an approved Plan, the operator would have to be able to show that no treatment of discharged water will be necessary 10 years after mine closure, and any Plan could be changed or halted if additional information about scientific, cultural or biological resources becomes available.
The miner would have to submit an application to the federal government to request any cessation of operations greater than 180 days. A miner would have to obtain consent of the federal government to transfer ownership of any operation, and the transfer would require a fee to be paid to cover the government’s administrative costs.
· Financial assurance (bonding) would be required for any operation—presumably this would also apply to suction gold dredging—and the amount would be evaluated and adjusted every 3 years. Where water treatment is necessary, financial assurance funds would not be released until there is 5 full years where treatment is not necessary. · States would be allowed to implement regulations that exceed the regulations in this bill.
· The federal government would be allowed to collect administrative fees to cover expenses incurred while regulating mining operations. · Mining operations would be subjected to a minimum of one complete inspection per year. · The bill would provide environmental lawyers an unending source of income. Any citizen would be allowed to file a civil lawsuit against the miner or the federal government to force compliance with the mining laws after giving sixty days written notice. The court would be allowed to award the costs of litigation, including attorney and witness fees, as the court deems appropriate. ·Any miner who fails to comply with any portion of a permit would be subjected to a fine of $25,000 per day.
· Any citizen who believes they are being adversely affected by a mining operation could request an inspection. If the Secretary agrees that an inspection is warranted, the complainant would be allowed to join in the inspection. Complainants could remain anonymous if desired. ·Any person who engages in mineral activities without the required permit, if convicted, would be punished by a fine of not less than $5,000 per day or by imprisonment for up to 3 years or both. ·
Designated employees of the Department of Interior and Department of Agriculture would be given full law enforcement powers over permitted miners, including the power to subpoena miners to force attendance, testimony, and disclosure of all paperwork, and warrantless searches of vehicles and buildings expected to contain locatable minerals or products derived from them would be allowed.
· The Secretary would be forced to prevent mineral activities that could have an adverse impact on the resources and values of National Conservation System Units. H.R. 699 would completely wipe out all small-scale mining in the United States. Small-scale miners do not have the time and resources to handle the fees, lawsuits and reporting requirements. Large-scale mining would be also phased out as mining companies would be unable to deal with the unattainable requirements of these regulations, citizen lawsuits, thin profit margins, reporting requirements, and the uncertainty that comes with the federal government’s new authority to halt a mining operation when “undue degradation” is occurring or a scientific, biological or cultural resource is discovered. Many areas that may have potential would be inaccessible. No one in their right mind would provide funding for exploration or operations under the proposed conditions.
The most likely outcome would be that the environment would suffer as mining companies move all operations to countries with little or no regulations.Like the current situation with oil, Americans would be forced to obtain natural resources overseas, sending money to countries that don’t like Americans and would love to control our prices.The legislation is co-sponsored by Reps. George Miller (D-CA), Henry Waxman (D-CA), Ed Markey (D-MA), Howard Berman (D-CA), Raúl Grijalva (D-AZ), Rush Holt (D-NJ), Jim Costa (D-CA), Donna Christensen (D-VI), Pete Stark (D-CA), Dale Kildee (D-MI), Maurice Hinchey (D-NY), Earl Blumenauer (D-OR), Patrick Kennedy (D-RI), Ron Kind (D-WI), Lois Capps (D-CA), Adam Schiff (D-CA), Mike Honda (D-CA), John Salazar (D-CO), Anna Eshoo (D-CA), Niki Tsongas (D-MA), and Gerry Connolly (D-VA).
The legislators who have sponsored this bill should be labeled as un-American, voted out of office, and sent packing for attempting to decimate one of the few industries that has managed to stay afloat and provide an honest paycheck during these tough economic times.Please take a minute to contact your Representative and Senator to let them know your stance on H.R. 699. Better yet, why not start a recall effort if one of the bill’s sponsors is in your area, or stop by their local office for a bigger impact? Contact information for each of the bill sponsors:· Nick Rahall (D-WV) phone 202 225-3452 · George Miller (D-CA) phone 202 225-2095 · Henry Waxman (D-CA) phone 202 225-3976 · Ed Markey (D-MA) phone 202 225-2836 · Howard Berman (D-CA) phone 202 225-4695 · Raúl Grijalva (D-AZ) phone 202 225-2435 · Rush Holt (D-NJ) phone 202 225-5801 · Jim Costa (D-CA) phone 202 225-3341 · Donna Christensen (D-VI) phone 202 225-1790 · Dale Kildee (D-MI) phone 202 225-3611 · Maurice Hinchey (D-NY) phone 202 225-6335 · Earl Blumenauer (D-OR) phone 202 225-4811 · Patrick Kennedy (D-RI) phone 202 225-4911 · Ron Kind (D-WI) phone 202 225-5506 · Lois Capps (D-CA) phone 202 225-3601 · Adam Schiff (D-CA) phone 202 225-4176 · Mike Honda (D-CA) phone 202 225-2631 · John Salazar (D-CO) phone 202 225-4761 · Anna Eshoo (D-CA) phone 202 225-8104 · Niki Tsongas (D-MA) phone 202 225-3411 · Gerry Connolly (D-VA) phone 202 225-1492
in reply to: Clips from Alleghany #3640Scoop got permission to post the draft minutes from the last Director’s meeting.
Original Sixteen to One Mine, Inc.
Regular Meeting of the Board of Directors
Friday, February 18, 2009.The regular meeting of the board of directors was held on February 18, 2009 at the Corporate Office, 527 Miners Street in Alleghany. The meeting was called to order at 11:00 am by President Michael Miller.
Present were Directors Michael Miller, and Scott Robertson, Dan O’Neill attended by speaker phone. Secretary Rae Bell was present and took the minutes.
The minutes of the April 10, 2008 meeting were approved as read as were the December 1, 2008 phone conference minutes.
The year-end financial statements were reviewed. It was noted that income in 2008 was 80% less than 2007. Operating expenses were 56% less in 2008 than 2007. For the year ended December 31, 2008 the company shows a loss of $360,000. The company has very little cash and has been managing to “keep the lights on” with the little bit of slab and jewelry sales that continue.
Regarding the status of the mine, there are four men helping out with maintenance on an irregular schedule. The Mine Safety and Health Administration did an inspection in January and it went well. There was only one paperwork citation which has already been abated.
Under “Old Business” Mike reported that he was very disappointed in the effort to sell the gold collection by Fred Holabird. The catalog was not even published until June and he hasn’t heard from Fred in months. Mike will get documentation in writing that the “deal is off” with Fred. No interested parties were found. The decision has been made to break up the collection and try to sell individual pieces. Dave Connor of Orocal took flyers to the Tuscon Arizona gem show this month.
The Pink Sheet listing has been put on hold.
The MSHA citations mentioned at the last board meeting were negotiated to everybody’s satisfaction with one being dropped and one being reduced.
Under new business, the date for the annual meeting was set for June 20, 2009 by unanimous consent.
The date of record for proxies was set at April 1, 2009.There was a discussion about the possibility of doing either a preferred stock offering or else some type of limited partnership to raise capital. Mike will continue with his research.
There being no further business before the board the meeting was adjourned at 1:00 PM
Respectfully submitted:
_______________________________
Rae Bell Arbogast
Secretaryin reply to: Miscellaneous #3639To move previously mined gold as collectible specimens is an acceptable practice for any mine to gain cash revenue in down times. But in today’s market, I don’t think it’s reasonable to expect these treasures to move at eight times (8x) the spot price. I realize some of these examples have added values due to their art appeal, gross size, sculpted beauty and historical provenance, but you may want to reassess their price points objectively. I too believe you’re “sitting on a gold mine” and wish the best of times for the 16-to-1. I additionally hope your other funding connections materialize so you can get back underground. 🙂
in reply to: Miscellaneous #3637To the board:
Here’s a good example of what happens when outstanding debt starts to consume a mining company:
Van Sun/Reuters say Teck to sell Hemlo interest
2009-02-23 08:54 ET – In the News
Also In the News (C-ABX) Barrick Gold Corp
The Vancouver Sun reports in a Reuters dispatch Saturday that Teck Cominco has agreed to sell its 50-per-cent share of the Hemlo gold operations to joint-venture partner Barrick Gold. The unbylined item says the sale is part of a plan to raise cash and pay down debt. Teck will sell its share of the operation — located in Western Ontario — for $65-million (U.S.). Barrick, the world’s largest gold producer, already owns 50 per cent of Hemlo. Vancouver-based Teck cut costs and began selling assets late last year to pay down billions of debt taken on to finance last year’s $13-billion (U.S.) takeover of Fording Canadian Coal Trust. It agreed to sell its Lobo-Marte gold project in Chile in November and has said its other gold assets would be the first (to) be divested.
We need to turn the gold specimen collection into cash and pay off our debt. Does the board not understand that the whole country is in financial crisis and with our debt we classify as being in line for extended financial trouble going forward?
If the continuing delay in liquidating the collection continues, will someone from the board please inform us how that delay works in our favor?
in reply to: Gold Enters Major Bull Market #3636In the previous submission the supplied link may not work. The article was originally posted to kitco.com under commentaries, “Silver again is outperforming gold” by James Turk.
in reply to: Gold Enters Major Bull Market #3635Last on gold is 963.30, off 28.40.
Check out the following link to a James Turk article on the gold/silver ratio with a nice long term chart.
in reply to: Miscellaneous #3638Bluejay, get a grip! I cannot fault you but please, doom and gloom is selling news casting across the world. I understand your concern. Our finances, our mines and operations are utterly unlike those companies you cited below. The only thing we have in common is we all are gold producers. These companies are selling their mines. Oh how sad for their owners. We are marketing our gold collection not the gold mines.
Our debt can be handled from sales of previously mined gold. Another solid funding possibility is maturing right now that is attractive for working capital and our future. Readers of this FORUM must rest. Doomsday is not in our future. That people with useless money sitting around in lackluster investments who know of the real gold opportunities at the Sixteen to One mine may still be on the sidelines as currencies decline in purchasing power is sad. We (shareholders) are not on the sidelines of the interest in gold. Time will measure the degree of our success as we work towards securing the right funds for the mine. Take a breath. Everyone is having a Tsunami at this moment. Gold is there in our ground, lots of it. We just need to get it. A very competent group of people advises the Sixteen to One. - AuthorPosts
