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- in reply to: Clips from Alleghany #2587
Easter Snow in Alleghany. It snowed a foot yesterday. The sun is breaking through the clouds this morning.
The fire department pagers went off at 6:45 am for a tree down on a garage with live electric wires. The tree is blocking main street above the Post Office. Mondo our PG&E guy in Downieville drove over and shut the power off. He already has the line repaired. The county road crew is getting the 3 foot diameter tree out of the road as I type. It appears the tree landed in the middle of a two car garage and the two vehicles may be OK. Amazingly nobody heard it fall. The tree is completely uprooted.
We now have six men working at the mine.
The miners have not been bringing up gold as they are working around it. No production totals yet. Because the gold is sparse in the quartz the number of ounces is not high. However this is the material that makes good cut rock bringing a much higher return per ounce.
The gold market is above $600 again today. No London Fix since Thursday due to the Easter Holiday.
Rae hasn’t even started on the first quarter financial statements. Better get to it! She spent all day Friday organizing legal papers for Mike and on compliance paperwork.
Mike made the trip to Orocal on Friday to sell slab.
The Empire Mine job got another time extension and should be done by the end of May.
Maybe by then spring will have sprung!
in reply to: Gold Enters Major Bull Market #2586New Delhi, April 16, 2006
Press Trust of India reports from Assocham’s Paper on “Yellow Metal: its Future Pricing Trends” that“gold demand world over had reached at around 4,000 tonnes per annum against its supplies which remained stagnant at about 2,250 tonnes per annum.”
in reply to: Miscellaneous #2585About a year ago “oak” left a message about information on old stock certificates from the Harison Gulch Mining Co.
Would like to trade info if you are interested.in reply to: Stock exchange listing #2584For many gold bugs or investor/speculators, it’s all about the stock challenge. Our market situation has been of interest to me from the moment I became a shareholder in 1975. An article in the Economist revealed a fresh view of market value. Thought you may ponder its underlying theme. (I was recently advised to get Original Sixteen to One Mine on the Icelandic, Irish and Chinese Exchanges from a man well versed in global energy.)
Anglo American, a gold mining giant, announced it would sell 10% of its stake in AngloGold Ashanti (the third largest gold producer in the world). Anglo American’s interest will be reduced from 51% to 41%. Why is a company keen on mining getting out of gold? The answer is that at the moment, the market places a big premium on the share of companies such as AngloGold Ashanti, which are pure “gold plays” (hint- hint- hint). Since AngloGold Ashanti’s “gold premium” is not fully reflected when it is folded into Anglo American, it makes financial sense for Anglo American to sell some of its shares to unlock that premium. Accounting rules mean that once its shares of AngloGold Ashanti falls below 50%, the value of that holding can be reflected in its books at market price, as an investment.
in reply to: Gold Enters Major Bull Market #2583The last on gold is $599.60 after hitting $600.70 in the after hours trading market. The current trading range on gold is about $530 to about $610. The probabilities favor gold moving slightly higher followed by a selloff. This is all normal and to be expected.
Supporting gold’s recent strength has been the run-up in the price of silver. The last on silver is $12.72. Seven months ago silver was under $7.50 an ounce. Silver still possesses the ability to trade near $14 an ounce on a short term basis.
Most importantly for the gold and silver stocks is the fact that the Philadelphia Gold & Silver Mining Index is suffocating its shares at the 150 level on the chart. These stocks are weak and are currently laboring for strength just under this level. In the past 20 years the 150 area on the chart has ended all intermediate uptrends as they approached and traded partially through.
As gold, silver and their related shares appear temporarily inflated, this appears to be a suitable time to bank extra funds and await lower prices during this generational bull market in gold and silver.
in reply to: Miscellaneous #2582Good Luck to the seller and Best Wishes for the buyer. All gold mine owners believe their gold mine is worth more money than a non-biased, objective professional report would recommend. It is the culture of hard rock gold mining to sell potential or what is hidden underground. All gold mines with a proven passed production have a potential. But, and it is a big but, a business plan with experience, cost analysis, time lines and revenue speculations are the major factors to support or reject a transaction of ownership. High-grade gold mining is unique in an already small and not well-known field of industry. The personal or corporate situations of the owner, seller or buyer are also key, subtle factors.
Other than the prolific Canadian corporate gold mining companies (and I use the description “gold mining” with care as most always stock plays in the gold mining industry) Original Sixteen to One would welcome another serious mining company in the area. The last company to work in our district was the typical small Canadian corporation called Brush Creek Mining. It was a fraud from the beginning. Its management and outside consultants and others played the game for their rewards in the stock market. Its press releases should have brought the Securities & Exchange Commission poking around; however, since it was Canadian, the US Commission had no authority. I attended Brush Creek’s last shareholder meeting in Nevada City. When I walked into the room, the officers and directors immediately held a quick powwow and announced that there would be no questions taken from the floor. I was a shareholder and had a reason to attend, which was not to confront management but to listen to their spiel and ask for any clarification if necessary. The corporation went bankrupt, leaving its owners, (many older people) high and dry. Corporations like Brush Creek will rise again and in fact are already marketing their pitch to an eager public. It is sad because honest gold mining companies cannot compete with the lies, untruths or deceptions of this crowd. As Peter, Paul and Mary sang many years ago, “When will they ever learn, when will the ever learn.”
I agree with Johnny Yuma that the Kate Hardy has potential and because of its potential would pursue it joining Original Sixteen to One. A Canadian company will exploit it to the ultimate detriment of many. Dreamers with insufficient money to burn may try and likely loose their cash. An extraordinary wealthy person could have some fun; however I would prefer that this unknown wealthy person would come play with us. The Sixteen to One also is fun and much more likely to succeed in mining a lot of gold. All the mines in our area have potential. It is the package of non-geological ingredients that have always separated the winners from the losers. This will never change. Luck has a place in any speculative venture, but luck alone will rarely mark the distinction.
By the way, no one predicted this rapid rise of gold to $600 an ounce. I have no idea what is coming next. I doubt that I would short gold. Has Barrick covered its forward sales? Why is Newmont outperforming Barrick?
in reply to: Miscellaneous #2581The Kate Hardy mine is a really good mine with great potential. I first visited this mine on 12/7/78. Soon after I took Richard Flatland, the mine owner, a cheque for $500,000., his then asking price. He immediately doubled the price to one million. Since then, I have made several offers, just to be jacked around. The good thing is that I went to Nevada and did well, so I don’t have to deal with mine owners who walk around like they have a stick up their ass.
in reply to: Miscellaneous #2579Have you Googled: Kate Hardy and Omega Mines?
For a fairly complete discription try:
http://sec.edgar-online.com/1997/10/15/10/0000945836-97-000059/Section2.asp
in reply to: Miscellaneous #2580Well, from what I’ve read and discussed with others, these mines may be “played out”, or nearly so. Of course, the price would merely be the downpayment, as all new equipment would be needed both underground and on the surface.
Jim Agnew
Rocklinin reply to: Gold Enters Major Bull Market #2578Concerning the Iranian Oil Bourse (exchange) that was to have exchanged oil for Euros instead of Dollars, it has been postponed for some reason (it was to have begun on 3/20/06). There was some discussion of this at the web site http://www.fmnn.com (Free Market News Network), although you may have to search for it.
Jim Agnew
Rocklinin reply to: Miscellaneous #2577Today’s Placer Herald (4/5/06) lists the Kate Hardy & Omega Mines for sale for $1,350,000. Anyone know more about these mines?
in reply to: YOU JUDGE *** US COURT OF APPEALS #2576The judges favorable decision resulted in the cancelation of penalties totaling $19,650.00.
The entire decision can be found under the NEWS heading of the FORUM.in reply to: YOU JUDGE *** US COURT OF APPEALS #2575In terms of penalties to be lifted, what dollar impact did the decision have?
in reply to: Clips from Alleghany #2573Heavy rain is falling in Alleghany rapidly melting the snow that is on the ground. Lowlands look out.
The mine inspectors were here on Tuesday of last week. Only minor citations were issued and all of them have been abated. The crew was sidetracked from blasting to deal with the inspection but did manage to get a round in Friday. They intentionally blasted to the side of the area where gold is showing in an attempt to break out the jewelry rock without fracturing it. Perhaps today they will bring some up.
Gold Sales has two nice rocks to cut but the big saw is broken. David sent the motor for new bushings two weeks ago and it was sent back via FED EX a week ago. Kyle traced the package Thursday only to find out that Fed Ex subcontracted it out and there is no way to track it. Fed Ex is not the greatest carrier for rural areas. We have had trouble with them time and time again. SO if you are sending us a package we do not recommend using them. UPS or the good old postal service is best.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2574As I walked in the office today, Ian and Rae were reviewing the job applications on file. I joined them. Twenty minutes later Rae said, “Oh, the Ninth Appeals Court decision arrived. We won.” Well, the job applications were set aside because this bit of news is really NEWS. WE WON!
The decision is five pages, which we hope to scan or get to our web site. It concludes, “We therefore grant the petition …and vacate the penalties imposed in connection therewith. In view of our holding and the factors cited…the imposition of further penalties for the conduct described in Citations Nos. 7995404 and 7995405 would be arbitrary and capricious. Accordingly, no further penalties shall be imposed with respect to those two alleged violations.”
in reply to: Clips from Alleghany #2572To the fools planning on coming to Alleghany Saturday the weatherman is predicting snow to 4,000 Friday night and Saturday morning with clearing Saturday.
This fool knows they sometimes get the elevation wrong.
The plows run even on Saturday. If you want to reach me Sat. morning for road conditions try 287-3333 or 287-3540 or my home number.in reply to: YOU JUDGE *** US COURT OF APPEALS #2570I just finished listening to a CD of the hearing before the panel of judges for the US Court of Appeals Ninth District that was sent to me by a shareholder. If you have not heard the proceedings, I strongly encourage you to do so. If, like me, your system takes forty minutes to down load the web reference of the recording, which is impractical, I will send you a CD. To cover the expense (I hope thousands will listen to and ponder the important issues of this proceeding) please send some money to cover the costs of sending you a CD.
Now, my comments. I am somewhat awe struck by the hearing. The three participants (Klaus, the Secretary of Labor and the Panel of Judges) carried on a discussion that honored their respective duties. Since I have never been to a hearing at this high level, I had no expectations about how the Judges behave. I am impressed because they cared about us and did not blow us off as Gary Melick, the hearing judge, the MSHA lead inspector (Stephen Cain) and the Secretary’s hearing lawyer (Chris Wilkinson) did. One significant statement by Klaus honored our Company’s integrity, which all the others just ignored in their biased assault against us. It came during his five-minute rebuttal to the Secretary’s argument. Klaus pointed out in the hearing record how the miners follow the Sixteen’s policies towards safety. The above mentioned trio of federal employees insulted every miner and person associated with the Sixteen to One and the other gold mines, miners and operators in the Alleghany Mining District with their speculations and presentations about Mark’s tragic accident. Why?
For the first time I am content with our hard work to stop and reverse the government’s disgusting wrong doing! I hope you will complete the journey and listen to the last round of the battle for truth and justice. Should the panel of Judges not reverse the Secretary of Labor’s position, our final recourse is the US Supreme Court. My prayer is to stop process and the abuse now. Also I pray that the US Court of Appeals will issue a written decision. Why? While most Americans will never realize the importance of the questions at issue, I do and so do others in and out of the mining industry.
It is certainly odd that an issue so vital for our domestic mineral production capability has fallen on such a small company to defend. I did the best I could. It is out of my hands. You might want to hear the final take. The briefs are here on the web site as well as the many comments by web site participants. For all of you familiar with this journey who supported me, thank you. To the one guy who I cannot thank or hug or give a high-five… right on George. It is a game of words, George just like you said. Klaus gave honor to you in his oral argument. I honor you forever.
in reply to: Clips from Alleghany #2569NCTV, channel 11 in the grass valley area, will play a live/taped show about the Sixteen to One mine gold collection on Friday, March 24, at 7pm and Sunday, March 26, at 3pm. The show was recorded in the stations studio last Tuesday evening. It is the first time the 100 piece collection has ever been assembled and filmed.
Gold in the high-grade sacks for David to weigh and cut and gold in the face. Like most pockets in a high-grade gold mine, we won’t know its size until after it is mined. All Ian will say is that it looks good.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2568Wow. I just finished listening to the entire transcript, 45 minutes of sitting on the edge of my seat. THIS IS A MUST for all of us to hear. Klaus was exceptionally prepared and does a supreme job articulating the ambiguities of the citations issued to the mine following Mark’s accident. The Secretary of Labor attorney was antagonistic at best, and seemed to go around in circles.
I’m not here this time to give my opinions. It all speaks for itself. And, although I haven’t spoken with him, I suspect Mike has refered us to this link (the word-by-word proceedings in the hearing) for us all, and especially for those out there who’ve doubted his decision to make this pursuit from the begining, to finally discover how the mine has been mischaracterized from the very beginning following the accident.
My gut feelings tell me that this time justice will be served, and the mine will be able to put this behind. Oh, and by the way, lest some lawyer for the CDAA conclude that I am “tainting” the citizens of Sierra County through the use of this forum page, I live in the valley, Yolo County.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2567An audio file of the hearing is available at http://www.ca9.uscourts.gov (use copy/paste to put this in the address bar) on the upper left is a link to audio files. search by case # 04-71301
in reply to: YOU JUDGE *** US COURT OF APPEALS #2566We are back from San Francisco. Two items before I summarize March 15, 2006 at the US Court of Appeals. First item is the courthouse. What a magnificent building! Words fail me in describing it. What overshadowed the marble corridors, the tasteful stone inlay or the structure is the feeling of sensing the experience of freely walking its halls. It is not a cold stone building like some I have toured. The physical structure inspires awe, awe in the most humbling manner. It is not pretentious, intimidating or arrogant. It is elegant in its massiveness and its detail. I highly recommend everyone who loves to visit San Francisco to include time for the federal courthouse. Thank you to those far seeing Americans who chose to save and repair the building instead of tearing it down because of earthquake fears. Second, thank you for your support in the righteous battle that has reached the next to highest court in the land. On behalf of the mining industry and our population whose life depends on the success of this fundamental industry, your voices from day one kept my voice along the path I chose to take.
The tape recorder could not pick up the voices of the judges or attorneys. The first issue was whether the Company filed a proper request for the mining commission to review the decision of the Secretary of Labor. Her attorney flew in from Washington DC and the judges took most of her time with this issue. Klaus spent a few of his twenty minutes on the topic. We think that the Court will rule that the particular circumstances support the validity of the position that the Court has the authority to hear the appeal. The next issue is the agency position that both the hearing officer and the Secretary of Labor took. The decided that Mark was management because he was a lead miner (their definition which completely was refuted by Jonathan (mine manager at the time of accident and me) and he took some responsibility for his work and safety. Klaus feels that this is the primary issue and if the decision is overturned, we have carried the day. By the way, even though Klaus had very little time to dig into all the mining practices, he quickly gained a fantastic understanding of the equipment, the methods we use in Alleghany and the rules and regulations for our specialized industry. Unfortunately, I have to go now. We continue to mine some very good looking gold and the shift is about over. I promise to write more about our trip to the Ninth Circuit Court. Lastly, we feel confident that the judges were well prepared before the session. I am confident in Klaus’s presentation. The Secretary’ lawyer did as well as she could with the cards she was dealt. but those cards were tainted by every lawyer who acted in this case. Now finally, if I were a gambler instead of a high-grade gold miner, I would wager that our position will carry the day.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2565What should happen Wednesday?
The Court gives each side either ten minutes or twenty minutes to argue its case. We have been given twenty, which seems positive. I plan to take a tape recorder so Kyle can transcribe the hearing for you to read. Hope it works. It is Klaus’s show, and he is prepared. I cannot imagine how the lawyers for the federal government even think that the position advocated by MSHA has merit. MSHA position is definitely not in mining’s best interest or the country’s best interest. If we lose, all Americans lose a round for domestic security. I just hope the judges understand the issues that have arisen as a result of Mark’s tragic accident. The direction of MSHA must change and the opportunity to change it is at hand. The citations should be thrown out for lack of evidence. Also the Court can make a statement that even though the citations are void, the idea that Mark was management is specious. Oh, by the way, today the miners ran right into the pocket of gold they were headed for. It looks good. More in a couple of rounds.
in reply to: Clips from Alleghany #2564What a hot week for Scoop. Heard that Mike was invited to hear Bruce McPherson, California Secretary of State, speak at a noon meeting in Nevada City on Thursday. Bruce and Mike are lifelong friends. There fathers were best friends before the boys were born. This could be Scoop’s big break to move off this web site for a new career with the big boys, so Scoop snuck into the lunch meeting undetected to scoop up a story.
Bruce thanked a few people in the crowd, saving his comment about Mike for last. He warmly praised Mike and Original Sixteen to One in his opening remarks, while Mike turned beet red in embarrassment.Now to the meat of the speech. Seems that California slipped to the bottom of voter issues during the former Secretary’s term. (That guy resigned under a black cloud of fraud. McPherson was appointed by Governor Arnold and as McPherson quipped, “After 200 people turned the appointment down, my cell phone rang.) McPherson had been termed out after two successful trips to both the Assembly and Senate and was involved in personal matters when his phone rang and he heard the distinctive voice of the Governor on the other end of the phone. The audience seemed to really enjoy the stories McPherson told about Governor Schwarzenegger. Maybe Scoop will get an interview, when Arnold checks out the gold mine.
McPherson told the audience about the new electronic voting system and the ten safe guards that has made California the new leader in governments’ efforts to reduce and eliminate voter fraud. His agency is improving the system for the 60,000 military personnel from California to vote. He is working to have the voters who move to a new district not only register easily but their former registration will be automatically canceled within 24 hours. He is sending high school graduates and others in California who turn 18 a positive invitation or solicitation to sign up to vote. He gave examples how each vote truly counts. (George Dukmajian beat Tom Bradley by less than 93,000 votes for governor or just three votes per each district).
McPherson was confirmed by a unanimous vote of the legislature, a rare political event. He is a republican from the liberal and socialist state of Santa Cruz. When the talk was over and McPherson asked for questions, Mike jumped up first and Bruce said, “Oh no, I’m in trouble.” He wasn’t because Mike noticed that his friend never once said he was running for election or gave any indication that his talk was political. McPherson rightly takes pride in his record of political non-biases. So, Mike says, “It is good news to learn that you will be running for Secretary of State. Would you tell us some of the reasons you decided to run and some of the reasons you contemplated for not seeking another term in office?” Isn’t this what friends are for? McPherson had no choice but to do a little campaigning.
in reply to: Clips from Alleghany #2563Mike went to the local television studio yesterday to do a live discussion that was recorded for a later play date. He was invited to be a guest after the producer and others heard the effects of implementing his drug policy. It turned out with unexpected results but Scoop has the skinny on what Mike planed to tell the business community. The moderator was the president of the United Way. It would be the last of five shows on one specific drug. The prior discussions were not about alcohol, marijuana, or caffeine. The topic was the drug known as “meth”.
He got Rae to find Original Sixteen to One Mine’s historical records of drug testing so he could evaluate it verses his Morning Glory Gold Mine’s current drug policy. Scoop remembers the concerns of the corporate business industry in initiating and implementing drug testing for employees in the early 90’s. Original Sixteen To One pioneered the issue in the hard rock mining industry. It had become a significant concern with American mines in the growing open pit mines in Nevada.
What the producer saw was a business leader who took a path worth repeating for others to hear. What Mike did was accept the invitation for two reasons only and would be willing to relate one about his drug policy evolution on the TV. Scoop wasn’t at the television studio yesterday but found Mikes crumpled notes and papers he wrote for the interview:
A. Began program 1992 or 3…revised 1997; concern about privacy issues; cautioned by directors; never comfortable, therefore never tested.
B. Why delay: (1) unclear if we employed users; trouble if a test was positive. (Early days employer responsible for rehabilitation. (2) Comfort zone with work force…tight group with personal. (3) Competent program to evaluate production, assumed that a user would show up less productive. (4) Number of employees expanded to 60…shrank to 6. (5) First instance of a meth user, his behavior and turmoil. (6) Considered consequences if accident at work; risks of implementation less than rewards or consequences of no enforcement.C. A PROGRAM WITHOUT ENFORCEMENT OFFERS NO PROTECTION TO COMPANY.
There are other words scattered written on both the 1997 revised policy and the 2006 revision in effect, which he brought to Nevada City, but Scoop will wait with anticipation to see if Mike followed his plan when the show airs. If this web site had audio and video, you could see it too.
in reply to: Clips from Alleghany #2562Four feet of snow on the ground in Alleghany. We had a power outage yesterday and over the weekend.
The sun is peeking out as I type but more snow is expected Thursday and Friday!in reply to: Clips from Alleghany #2561Snow down to the 2,000 foot elevation today. Chain controls are up South of Grass Valley. That doesn’t happen too often. About two and a half feet on the ground in Alleghany with heavy snow falling.
We hired two men, one experienced miner, one not, they started Monday. We are breaking rock again!
Rae hasn’t comleted the ten-K yet but is getting close. The company shows a loss of $400,000 for 2005 OUCH! The loss translates mostly to a decrease in our gold inventory but also an increase in liabilities. The deadline for the 10-K is March 15th.
The museum is “going for it” this season and will be offering mine tours at 1:00 pm Saturday and Sunday – Memorial Day through Labor Day. Advertising is being stepped up and a shop in Downieville will be promoting the tours.
The shop (Sierra Gold) will also carry 16 to 1 Gold and Jewelry.A dog has joined the ranks of stray animals enjoying 16 to 1 hospitality. Evidently abandoned he lived alone in an empty house scavenging about Alleghany for two years. The office staff recently started putting food out for him regularly and the dog who used to slink away when called now greets people tail wagging. Maybe he’s come out of his shell too far, as he has been chasing cars lately. Bad dog no biscuit!
in reply to: Technology #2560In 1992, we began using metal detectors in the mine. Soon other methods of locating gold surfaced, one was GPR (ground penetrating radar). It works. We were able to “see” through the quartz and an image would appear on the screen. The Discovery channel presented a ten-minute special about our work around 1994. The problem seems to rest in the interpretation of the data. What does gold look like on a computer screen? What are the other anomalies we see via the technology?
We became a Beta site for a five-year program of serious gold detection with companies interested in using modern technology to find gold. We learned a lot. The Sixteen to One mine is a great mine for research because the quartz is benign and the gold is very concentrated. Over the years the miners became familiar with the term, “false positives” (a phrase I particularly detested). No research was successful in breaking away from the ‘souped up’ hobby type detectors we were using with great success on a regular daily basis. Too bad, but we observed reasons why the others failed yet had no control over their methods.
Another type of detection came from Colorado. It was called RIM technology (radio imagining method). It also worked. We were able to locate anomalies within five hundred feet of quartz between the 1700-foot level and the 2200-foot level. One of its drawbacks was the length of time it took to process the data. Therefore, we declared that our gold detector of the future must be in “real time”. The hardware is not stopping our progress. It is the software and the adaptation of the equipment to meet the demands of an underground mine. Miners are not known to be dainty guys, and mines are known to be wet and dirty. Our future detector must be durable.
We spent a lot of time and money chasing those false positives; however we are willing to continue the search for an electronic improvement to identify the high-grade gold in the scattered but abundant pockets. (The Sixteen to One agreed to actually mine the signals or spots where the outside research companies believed showed a gold pattern.) We do not even care if the eventual accuracy is only forty percent. This is a very rich mine. We can strike out sixty percent of the time and still find a lot of gold.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2559PLEASE NOTE THE NEW DATE FOR APPEAL
Wednesday, March 15, 2006 9:00 a.m.
Courtroom 4, 2nd Floor
United States court of Appeals – 9th Circuit
95 Seventh Street
San Francisco, CaliforniaATTENTION – IMPORTANT – ATTENTION:
A PICTURE ID REQUIRED TO ENTER COURTHOUSE
( and leave your guns at home if you want inside)Each side is allowed 20 minutes for argument.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2558Having written “CWA” in the previous entry by typo accident, hmmmm, as I meant to write “CYA” (and we know what that stands for) I’ve decided that in the case of this typographical accident that “CWA” stands for:
Completely Wacko Authority
in reply to: YOU JUDGE *** US COURT OF APPEALS #2557MARCH 13, 2006
ORAL ARGUMENT
US COURT NINTH DISTRICT
OPEN TO PUBLICAttending such an event will open the eyes of anyone yet to do so. We’ll see awesome posturing (call it CWA) by the factions leveling charges. Quite a spectacle.
in reply to: YOU JUDGE *** US COURT OF APPEALS #2556MARCH 13, 2006
ORAL ARGUMENT
US COURT NINTH DISTRICT
SAN FRANCISCO
OPEN TO THE PUBLICin reply to: Gold Enters Major Bull Market #2555HI DEBBIE. Your registration and e-mail is authentic and I assume your questions are as well. Unfortunately, I cannot answer them from memory and maybe there are no answers to some of your questions. Here is a little insight.
I SOLD GOLD today, but it will not be registered in any media or publications. The same is true for other gold producers. While returning to Alleghany in my truck, a caller to radio program said that Iran was rejecting the dollar as currency in March. No one called to challenge this statement. I have no idea if it is true. A while ago I wrote about the Dubai gold exchange that opened in November. I felt that a new player had entered the gold business with much wealth and it could be one factor in the rapidly escalating cost of an ounce of gold in dollars.
FOR THOSE PEOPLE who believe that a global war is underway, economics have always been an issue in war. Gold has a long history of economic value in trade. Maybe this is a reason the Feds have an interest in gold. Remember gold like dollars is used to establish exchange values. Just a short time ago I had to sell an ounce of Sixteen to One bullion for $250. Now I can sell that same ounce for $560. What has changed? Is it more than the dynamics of supply and demand? Unlike most other items of barter, gold’s intrinsic value is recognized the world over, especially by foreign producers of oil. Compare this to euros, the yen or dollars. Remember the Swiss franc? We do not hear much about the Swiss franc in the news today.
I HOPE SOMEONE else can answer your tough questions. Gold is very private. The Sixteen to One mine holds many ounces left to mine. Personally, I am very comfortable owning this American gold deposit. This is why I became a shareholder in 1975. Gold is here underground and ours to mine.in reply to: Gold Enters Major Bull Market #2553Professor Bernanke, Alan Greenspan’s replacement at
the FED, will make his first public appearance today
in front of Congress on the state of the U.S. economy
and the future of interest rate policy.Expect the Exchange Stabilization Fund to be in the market today attempting to destabilze gold’s price lower. They may have some luck as short term resistance is nearby at 546.
Overall, expect the trading range on gold to be from about 535 to a high of 590 over the weeks ahead as gold continues to move higher during this generational bull market.
in reply to: Gold Enters Major Bull Market #2554I always read Bluejay’s entries. Thanks for putting yourself out there. Keep it up. Do any others out there try to look ahead to market conditions? If so, here are some questions I wish I knew answers.
How can I find the volume of gold trading other than the gold future reports? Who and how do the large producers sell their gold? How is gold sold in South Africa or foreign countries? Is it all just bookkeeping entries or cash exchanges? Are the central bankers selling off inventory or have they announced plans to?
What were people doing about gold (raw speculation okay)when the price was $260 an ounce a short time ago? Do any people or institutional investors buy gold to hold for the storage of wealth? Would love to read some fresh knowledge about gold and how it is important.
Why does fed reserve even care about the future of gold? Maybe because of fear of gold undermining dollar as the world’s money, which is not likely because gold is harder to pass to others than paper or coins.in reply to: Clips from Alleghany #2551You got it Dick! (see below)The jewelers actually prefer the slab with less gold and it is sold at a higher price than the $500 per ounce mentioned. The heavy material is a harder sell but it still beats going through the expense of crushing the material, pouring bars, shipping the bars and paying a refinery to refine the gold and sell it for us.
in reply to: Clips from Alleghany #2549Slab is sold by its gross weight. The percentage of gold varies between 20% and 75% according to weight. Only a fool sells gold below spot. David and Mike are not fools. All sales records are kept for accounting purposes. Qualified people interested in joining the bull market for gold are invited to review the sales over the past decade to satisfy themselves that the marketing of Sixteen to One gold is a tremendous bonus.
in reply to: Clips from Alleghany #2550Thanks Scoop. Now, thinking of the latest $500 per ounce gross slab sale, if I’ve got it right, and the quartz is “worthless,” a sale with 20% gold content means 16:1 is selling gold at $2500 spot, and 75% would be $666.
in reply to: Clips from Alleghany #2548I’ll chance an answer, as a casual observer with a small bit of knowledge.
I have a good friend who found an over-the-top crystalline gold-quartz specimen, that if it were ever sliced (never will be because it’s the cat’s meow)would bring many 10-fold-times spot price for spot-gold-price.
When you see the rare Original 16 to 1 gold-in-quartz slab, the value speaks for itself. It is as if gold were deposited into snow.
We’ve seen many varying degrees of Original 16 to One gold-in-quartz specimens, recently a batch that was discovered a few years ago amid the contoversial condemnation of the natural existance of arsenic. While our mine gave it the distinction of Imerial Quartz, its natural derivative was condemned by the un-informed as being the source of pollution in the very location it was deposited.
I digress.
Gold in the original quartz matrix is more valuable than the gold itself, by weight, and when combined with the host rock, defines gold-quartz jewelrey when the aesthetic intrinsic beauty is discovered.
Check out the mine’s extended web-site links, particularly the jewelrey.
in reply to: Clips from Alleghany #2546I have just read that the Company sold gold slab for $500 an ounce. It seems that it would be educational to the shareholders to understand the reason for selling gold slab at this price as opposed to gold’s last sale of $567.10.
in reply to: Clips from Alleghany #2547I would imagine that most slab is quartz not gold. But that does raise a question, how much gold is in a slab, and what is the price per ounce of the gold in the slab?
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