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- in reply to: Miscellaneous #2063
or other Ground Imagaging System at the 16 to 1?
Mitchellin reply to: Miscellaneous #2064Beginning in 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 is gold? What are the other anomalies? We became a Beta site for a five-year program of serious gold detection with companies interested in using modern technology to find gold. 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”.
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 adaption 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.
We spent a lot of time and money chasing those false positives; however we are willing to continue the search for an electronic improvement for finding gold. We do not even care if the 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: Clips from Alleghany #2062Of the eleven people working at the mine, seven live in the mining village named Alleghany. The historic explanation of how the camp got its name is that a prospector from Allegheny, Pennsylvania suggested the name and chose to change the spelling (Alleghany). The village housed surface prospectors, early underground drift miners working the buried “dead rivers” and the underground hard rock miners. It grew, burned, was rebuild, burned down, rebuilt and during several slumps in gold mining was home to social outcasts and, according to a professional geologist’s report, old men hiding out from the law. It may be the only community left in California with a gold mining based economy. Early California publications state there were over 20,000 mines in the State. Many and maybe most have been paved over as the population expanded, unchecked into the Sierra Nevada Mountains. ORIGSIX ‘s existence and its operation have protected the untapped mineral wealth from the developers’ exploitation, something that cannot be said in most of the Californian gold belt. The Company owns adequate land for the development of housing and the support infrastructure to grow. Surprisingly, the main road to Alleghany was not paved until the mid 1960’s. Much of the old waste dump from the mine was sold as road base. Hmmm, before metal detectors!
The miners look forward to next week. Nothing around Alleghany creates more positive excitement than sacking gold. Caution, however, because it is not on any time schedule. What did Will Rogers say, “It is much harder prospecting for gold than it is for spinach.”
in reply to: Miscellaneous #2061Hey Mike, about the picture with Dave and Joe, ask Davie which is worse, the explosives ready to go or someone pointing a camera at him. (heh-heh).
in reply to: Clips from Alleghany #2060GOOD NEWS IS AWAYS THE BEST KIND TO RECEIVE. CONGRATS NOW GO GET THAT GOLD !!!
in reply to: Clips from Alleghany #2059The news release sent to regional newspapers is available under NEWS. The Union is sending its business reporter to the mine on Friday for details.
Scoop overheard Mike’s side of the phone conversation with PGE. He mentioned the Company’s long and successful relationship and said that gold mining in California could create new customers for electricity over the coming years. This may not have been a selling point because of the power shortage in the State. After hanging up the phone, little tears of joy appeared in the corners of Mike’s eyes. One of several burdens hindering gold production melted away.The Company ordered 2000 gallons of diesel to be delivered Friday. The weather remains warm and sunny during the day but a storm front is predicted Friday night. One reason the Sixteen to One mine continued operated as the longest gold producer west of the Missouri River and prospered was its ability to stock up on supplies before the heavy snows.
The crew is advancing three headings. Miners got four rounds in today, one in the Ballroom area , two in the Ray-rock raise and one splitting a pillar off the 1500 level-south.
in reply to: Gold Enters Major Bull Market #2058Last week European Central Bank President Jean-Claude Trichet released a statement that sent the Euro currency into a short term decline that influenced the Dollar higher and thus sent gold lower. This is the reason that gold sold off from about $430 to under $410 where it is now trading at close to $405 Monday evening in Hong Kong.
An explanation of this event is presented in a reprint of some of the comments from Jim Sinclair at http://www.mineset.com that was released on January 17, 2004.
The Cooperation of the Incumbents
Do governments really worry about how they handle national assets when that ability depends upon an upcoming election? Would China cooperate with Japan and Washington if it meant the acceptance of and a modest rather than a major readjustment in the Yuan? Is the following a real reversal of a trend or an act of mutual support?
Credit Where Credit is Due
Markets have been central to my life for the past 45 years and I must credit the administrations of all major trading nations with the magnificence of their operations up until now. The cooperation of media, government, reporting agencies, law enforcement and others have created a major bull phase and recently a major currency adjustment in the form of a brutal move up and then down in the Euro.
What European Central Bank President Jean-Claude Trichet condemns, he created along with his colleagues and the market only followed the verbal statements of his fellow central bankers. First, it was on the up side with the public declaration that there was no problem with the higher Euro, and last week it was on the down side with statements concerning the evil of a high Euro.
The US Treasury market is a miracle of international central bank cooperation, using technical maneuvers to bull the market by nailing a huge short position after applying force to the short end of the curve. All this is effective but only on the medium term at best.
Last week’s event may end the easy money for a while in gold on the long side but will not contain its price for any significant time period.
Gold
We are trading right into the support at Friday’s close.
The major support for gold is right below and right above $400. Major long term support for gold is just slightly below and above $390.
Resistance still stands again at $419.70 and $430.30.
End
The important point here is that while other governments continue to play their games of support with the US concerning currency values and their exporting leverage, the main thesis of the US is to get gold lower which will thus create a false sense of security to hold its Dollars.
For the security of your future, it is strongly suggested that this current period in gold’s weakness be used as an opportunity to make first time investments in bullion gold coins or to add to already existing positions.
Correction from the previous entry:
Total manufacturing jobs lost in the US since 2000 is 2,600,000. It was erroneously forecast to be 2,400,000 at election time.
in reply to: Clips from Alleghany #2057Yahoo!
in reply to: Clips from Alleghany #2056Gold production for the week is estimated at 150 ounces or $63,000 at the spot bullion price. The exact amount is difficult to determine because the quartz is heavily veined with auriferous arsenopyrite. Similar looking ore has yielded .75 to 1 ounces of gold per pound. David continues to cut any rocks that may produce our jewelry slab. The heading is the one up dip from the Ballroom and the miners will continue to drill and blast next week.
The Sacramento valley and the foothills to an elevation of 3,000 feet had low clouds or fog all day today. Alleghany had full sunshine from 7am with temperatures hitting 60 degrees. Joe and Mike used the day for completing some surface work at the mine portal. The diesel air compressor was moved from the distant upper landing to the portal. This will allow the miners to shut the machine off before the end of the shift, turn it on only when actually needed and save the Company $$$$$. They also moved a portable trailer closer to the portal. It will be used for many of the things the old offices were used for and will also save the miners down time. Being hard up for money has its advantages. Even when you think you have squeezed the operation to the max, a good team will find some minutes to shave or a couple of bucks of waste.
The picture on the home page was taken yesterday.
in reply to: Gold Enters Major Bull Market #2055Auriferous
I just read your past comment concerning that there may not have been a conspiracy in gold after all since the price is above $410.
Even though the general conspiracy by the central banks of the world’s debtor nations may have forced them to eat crow now based upon the changes in thinking by China and the oil producing nations, our debtor country along with the others may still be capable of sporatic influence, albeit greatly reduced.
China currently holds 2% of its reserve assets in gold. It is their intention to increase this figure to 10%. China has recently made it legal for its citizens to hold gold. So you can depend upon China to be a serious buyer for years to come. The oil producing countries in the mid-east are fed up in exchanging their exported oil for a greatly reduced U. S. Dollar value. I hear that in the years ahead those oil producing countries will be slowly reducing U.S. Dollars as part of their holdings representing their currency reserve base and in addition, will be, the sooner the better, eventually not be accepting payment in Dollars at all. Oil prices were stronger this past week and are now close to $35 a barrel level. The Dollar has had a little rally lately but it will be short lived.
The old gold cartel is in shambles as a result of the continuing weak Dollar. As interest rates are kept artificially low in the U.S. the Dollar will overall continue to weaken and gold will rise. If interest rates start rising the recent artificially stimulated economic expansion will come to a screaming halt. In this election year it will a safe bet to make, that rates will continue to be pegged at the current low levels.
If rates do rise possibly following presidential elections or before, the recent renewed confidence in the U.S. economy will quickly evaporate. This possible event will surely effect an enormous amount of U.S. companies and some shareholders will probably begin bailing out which will send the stock market south. If this happens, where will their money go? It most likely will be placed in areas of security and one of those places is gold.
Another serious potential trouble area for the stock market is the derivatives market which shakes and trembles when interest rates rise. This potential if it does develop, could totally unravel the economy as we know it today and our job security will feel its wrath. The unregulated derivatives market is the biggest potential bombsell that has ever surfaced in the economic history of the World.
The conspiracy to keep gold artificially low is all but history. How much longer will the oil producing nations continue to accept the depreciating U.S. Dollars for their oil? Somewhere soon in time, the Euro will come into play as the new World reserve currency and the Dollar will slowly over the years be replaced.
This Dollar weakness is solely attributed to a country living beyond its means. During the 1800’s the world economic power was England. Most of the 1900’s that position was held by the U.S. The decline of the U.S. has already started. China is now taking over the driver’s seat of economic power and influence. The Chinese will dominant the world in the 2000’s. Get ready America. China knows that in order to make the new world rules that it must own a far greater amount of gold. This is why the conspiracy will never again hold the power that it once did when it significantly suppressed gold as it did over the past 15 or so years. Game over!
The last gasp of frustrated purpose for the old gold catel may have taken place in the 10 spread out gold sales by England below $300 an ounce a few years back. The English Exchequer took much public related heat for those sales.
One other related item. Our wealth in the U.S. compared to other countries on an international basis will consistently decline over the balance of our life times. It has already started. The reason is that the world is saturated with U.S. Dollars and our representives in Washington have no responsible prospective interest in reversing this new trend. They for the most part, are just interested in being reelected and living off the fat of the land.
A large percentage of our world debt is related directly to imported oil. Our oil reserves in this country have been in consistent decline for many years while our consumption continues to rise.
Even though we have been given temporary consumer relief in lower domestic retail prices in all goods imported from China, this is only adding to our international debit balance problem with this trading partner. Along with the problem is our continuing loss of manufacturing jobs. By the time election is here later in the year, the current administration will have compiled a disgusting record of destroying 2,400,000 American manufacturing jobs. The newspapers say we have a robust economy now. This is a false and unhealthy expansion. A healthy economic expansion is supported by the increase of manufacturing jobs, not the loss of them.
Even though the U.S. population is almost totally unaware of their shrinking overall wealth compared to the rest of the world community, the commercial traders of gold are also not aware of this larger picture change that must facilitate higher gold prices compared to declining U.S. Dollar. Their old guard seems content is believing that they still control the world gold market by their foreful manipulative selling of the metal as was shown this past week. The metal reacted too far compared to the mini advance of the Dollar. They should have learned the lesson that the British Exchequer experienced and not continued their obssession with control issues relating to the gold market.
Jason, Good news for you. It is my opinion that Palladium has finally turned the corner and will be higher into the years ahead. Good Luck! Stephen
I am getting like Richard Russell. I wake up in the middle of the night and start doing this and that and end up writing. Well, I guess it’s back to bed.
in reply to: Clips from Alleghany #2054Happy miners from the Sixteen to One mine were seen at the local pub yesterday. Even though they were talking among themselves, it was apparent they were on the trail of gold in two headings. Times have been lean, so maybe it will be chunks not crumbs. Expect a rough tally and report on Friday
in reply to: Clips from Alleghany #2052The Board of Directors met today at Grass Valley, California. The Board ratified the conversion of $65,000 of accounts payable into shares at $.72 per share and $1.00 per share. Revenue from processing mill concentrates was fixed at London pm closing ($421.00) per ounce and will be booked when received on January 16, 2004. Money will be spread among accounts payable on a pro rata basis. Management has prepared two short-term mining plans, focusing on gold production.
Yesterday, the crew fought tough surface conditions due to snow build up and later rain, not as bad as the Pacific North West, however. A State licensed inspector tested all of the air pressure tanks in use at the mine. He and Ian were stuck and dug their way out. On Tuesday the independent SEC licensed auditors tested the accuracy of the gold inventory and the company’s record keeping. All was in order. Pumps are working and the water level is mid point between the 2400 level and 2200 level in the 49 winze. A high priority is replacing the two and four inch discharge line with six-inch diameter pipe. This will substantially increase the amount of water discharged and lower the electrical usage.
in reply to: Miscellaneous #2051At my brothers house there was stuff on TV about Mars sayinbg how our rv there runs around with gold plastered on all over the places xposed to the sun. Seems like it wood be allthe time, up there. What dose this mean for catching gold at the mine?
in reply to: Miscellaneous #2050Well, that didn’t take long!!! Only a day after I posted the target of $420, gold blows away the $420 mark. Analysts said gold could hit $450 due to the weak US dollar, terrorism and the war in Iraq. Like I said on that last post; “Is it 1980 all over again”?
Gotta find some gold!!!in reply to: Clips from Alleghany #2049New Year’s Eve in Alleghany was a blast. Casey’s Place had a band and Ernie Locatelli brought his $40 box of fireworks that he bought in July and we lined them up down main street and lit them at midnight. The snow was coming down hard. We got a good three feet.
Rae and David are ready for the auditor’s observation of inventory tomorrow. Everything has been counted and yes, a few things re-counted. The majority of the material is quartz and gold so in order to get the gold content it has to be weighed both wet and dry and then the gold content calculated. We use the London fix gold price on the last day of the quarter to value the inventory. On December 31st it was $417.25 up from $388 at the end of the third quarter. Today the London fix is $420.60.
Rae was notified by telephone on Friday that she recieved a small scholarship which she applied for to attend an all-day workshop at Chico State on maintaining paper archives (including photographs) for museums. A museum newsletter will be going out this month. Use the “feedback” form to send us your mailing address if you would like to be added to the museum mailing list.
The new museum web-page can be viewed by clicking on the “museum” link just below “mine tours” on this page.in reply to: Miscellaneous #2048Gold is making another run. The fortune tellers in the metal market were hoping to see gold prices stay above $410 past the end of ’03… they did. Now, they want to see gold prices hit $420 and stay there for a while (to boost investor confidence). The price seems to be headed that way. After that? Well, they expect the price to go higher but, they also expect to see a significant drop in the price of gold come fall of ’04. We could always have a repeat of 1980 when gold hit a high of $850 on Jan. 21st and still closed out the year (Dec. 30th) at $589.75. You never know… until it happens.
in reply to: Miscellaneous #2047Gympie Gold, an Aim-traded Australian coke and gold mining group hit by a fire on Christmas day, has put itself into receivership.
For those of you who don’t know about Gympie Gold, they produce as close of a product to the 16 to 1 mine as I have seen anywhere else in the world. It just goes to show that any company can be on top of the world (or should that be, “Down Under”) and find that there is still risk in sound financial decisions made years before. To read more about Gympie’s woes, go to: http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251841903in reply to: Clips from Alleghany #2046Whoops!!!
I post an entry just when Scoop’s got big news….
Below
in reply to: Miscellaneous #2045Yes, Smithsgold, many hours pondering over that one.
I’ve tried to figure out the root of the antagonism, but come up with no other intent than what has plagued the mine’s existing dilemma throughout the era of “Environmental Awareness”…
Some time ago I submitted an essay relating this oxymoron to what happened when the Berlin Wall came down (hang in there, yes, this does relate.) Here’s a very brief re-hash:
Having spent some days witnessing the unfriendly side of the Wall when it still stood, thanks to a diplomatic chance, I came away wondering what would happen when all that authority fell, which it eventually did. What I came up with was a notion of how “Communist Authority” (now there’s an oxymoron, no?) could continue to exist within Western freedom. Here it is:
Grab ahold of something no-one could deny and make everyone scared….”the environment needs to be protected from anything, at all costs, no matter what.”
The sky is falling.
So send the Environment Police in to correct anything that could possibly ruin it. Tell the kids in public school that evil forces want to take their future away by ruining the planet. Make sure that all things remotely connected to disaster get blamed for the “bad-apple” actions of the bad apples that really do exist. More than anything, be sure to make political points anywhere you can. Maintain the control upon freedom (remember, freedom can’t possibly exist side-by-side.)
“A mine is a mine is a mine…and all mines will ruin the Earth, if you let them!”
THIS ENTITY HATES THE CONCEPT OF A MINE BEING SUCCESSFUL.
So, there you are. Just another attempt by idiots to pull heartstrings where true hearts don’t exist, instead exist within a desire to succeed, and keep the environment safe. White sand and water, not chemical mining.
No wonder it’s taboo to reveal identity.
Should anyone want to find me, talk with me personally, write me a real letter, I don’t hide behind a cyber name. My name really is Rick, although my given name is Richard. Call the mine or look up court records as to who by my name testified in front of the CRWQCB. I’d be happy to be me, in any forum.
in reply to: Clips from Alleghany #2044RESULTS FROM THE PROCESSING OF MILL CONCENTRATES:
Two truckloads transported from Alleghany to Barrick in Carlin Nevada.
First load: Gross weight = 45,360 pounds; dry weight = 20.9 tons; moisture content = 7.9%.
Second load: Gross weight = 52,000 pounds; dry weight = 23.5 tons; moisture content = 9.8%.
Total Gross weight = 48.7 tons; total dry weight = 44.3 tons.Triple screen assay at 150 mesh: first load 64.479 ounces fine au per ton; second load 74.363 ounces fine au per ton. This procedure screens out course free gold in order to smooth the “nuggeting” effect.
Gold content first load averaged at 6.585 ounces per ton. Gold content second load averaged at 5.694 ounces per ton. Total recovered gold = 271.085 ounces fine. Overall assay was 6.114 ounces per ton of concentrates.
Scoop appreciates your interest and comments. Mike and four of the miners holed up for four hours today making plans for next week. It looks like the underground crew will increase with two more contract miners, both with solid experience. It isn’t time to abandond the Ballroom heading, so rock will fly there another ten days. The new heading will be in the vicinity of the old second exit in the southern part of the mine. There will be about six to eight days of dead work before the crew can expect to recover any gold. Some good backs exist just above a 5,000 ounce stope. For some reason this group will not quit. Maybe they believe in what they are doing.
in reply to: Miscellaneous #2042TO ALL AT THE 16 TO 1 AND ONLINE.
HAPPY NEW YEAR AND MAY 2004 BE GOLDEN.
GOD BLESSin reply to: Miscellaneous #2041WHY ARE ALL OF YOU AFRAID TO FESS UP TO WHO YOU ARE ? ARE YOU WANTED BY THE LAW ? DO YOU THINK SOME ONES GOING TO KNOCK ON YOUR DOOR AND KICK YOUR PANSY LYING ASS.GROW UP THERE`S A LOT OF NEGATIVE STUFF SAID IN THESES FORUM MESSAGES IS ALL OF IT TRUE NO. MAYBE SOME BUT NOT MUCH I MAKE UP MY OWN MIND.IF YOU OWN STOCK AND DONT LIKE HOW THINGS ARE GOING THEN SELL IT.I`M LOOKING TO BUY SOME WHEN I GET SOME EXTRA CASH . I`VE READ BACK DID MY HOMEWORK AND EVEN TALKED TO MICHAEL MILLER.I CANT WAIT TO BE A STOCK HOLDER IN THE COMPANY.I`D LIKE TO THANK EVERYONE AT THE 16 TO 1 FOR HAVING THIS PUBLIC FORUM THEY DONT HAVE TO BUT I`M GLAD THEY DO.
in reply to: Miscellaneous #2043Season’s Greetings from me as well, to all of you out there enjoying the life we’re given! May all over your blessings be golden!
in reply to: Miscellaneous #2037To Gold Hound and anyone else who agrees to the Forum entry posted by Gold Hound (go ahead and read it, I’ll wait)… The First Amendment of the United States Constitution protects the right to freedom of religion and freedom of expression from government interference. Since Mike Miller and the Staff of the Sixteen to One Mine are not part of the United States Government, I don’t think that the First Amendment applies here. Plus, the Supreme Court has upheld the rights of website owners to be able to control the content of their websites such as postings on Forums such as this. As for sueing someone, some of the postings on this Forum could be considered libelous and I think it’s quite generous of the Sixteen to One Staff to just delete those entries and not to start legal proceedings against those who think that they can say anything about anybody without suffering any consequences because they think that is what freedom of speach is. In my opinion, the Forum should be dropped from this website and all updates should be posted in it’s own section. That way, information about the daily operations at the Sixteen to One could be posted, without fear of someone with an axe to grind posting their disatisfaction with Mike’s decisions, right or wrong. If you own stock and you don’t like what’s going on in the company, sell your stock. If you think you can do a better job at running the company, go for it. If you don’t own stock and you just want to be an armchair quarterback, get a life! Like I’ve said before, I don’t own stock in the Sixteen. I have my own mines. I have the utmost respect for anyone who does mine. I just sit back and watch the show (daily operations) at the Sixteen to One. Watch and learn.
in reply to: Miscellaneous #2040I LOVE READING ABOUT THE MINE .
I TRY TO CHECK THE FORUM EVERY DAY TO SEE WHATS KNEW.I TRY TO ADD MY TWO CENTS WHEN I THINK I HAVE SOMETHING WORTH SAYING.
THANKS FOR KEEPING ME UPDATED ON THE GOINGS ON AT THE MINE.
I HOPE EVERYONE HAS A HAPPY NEW YEAR.in reply to: Clips from Alleghany #2039As I drove into the corporate office this afternoon, I saw both company trucks wedged into the snow build-up in the parking lot. County snowplows were held back, hoping to save money and it was beautifully messy as snow can be. Ridge Road from Pike to Alleghany was covered with snow and tricky yet passable. It was before noon; so, what were Mike and Ian doing together in the office?
While Ian was able to drive to the portal, he had problems driving out without Joe’s help on the loader. A decision was made to not go underground for safety reasons. For anyone unfamiliar with the underground workings of the Sixteen to One, the weather outside makes little difference to the safety of the miners or their efficiency. Forgoing mining that day was in case of injury and unable to get off the mine property quickly.
I stood and listened to a conversation between Ian and Mike, who were studying and updating a detailed map of the mine. They were identifying gold targets and development options. Plenty exist within a three to six month expectation of reaching gold. How much gold, at what costs and probability of success seemed to be the key considerations. The Sixteen to One vein is really a complex system of quartz intrusions. Even after 100 years of mining gold, these guys can discuss options for 100 ounce to 100,000 ounce pockets. It looks to this writer like following a trail of breadcrumbs.
Rae had the 18 karat white gold and quartz and diamond inlayed jewelry spread out for inventory, a beautiful sight. The Sixteen to One white gold is a special cast created to compliment the “Imperial Gold” which was mined two years ago.
Missee and Dore, the two office cats, hung out by the coats. Missee spent the weekend shut in Rae’s office behind a closed door (no food no water no heat and no litter box). This posting is submitted as a thank you to YOU who gave Scoop feed back, especially the e-mail saying even daily trivial topics were appreciated.in reply to: Miscellaneous #2038The level of constitutional ignorance displayed by Gold Hound proves why success in the private sector is essential, and why there really is a severe threat to this country posed by those wanting to thwart such endeavors all in the name of Commie fairness.
Hey Gold Hound, there’s nothing in the US Constitution about the right to be heard.
in reply to: Miscellaneous #2036YAWN. Thank you for giving us proof to the points earlier made about the nonsense of unaccountable or unknown persons and the value(none)of their opinions. Yawn.
in reply to: Miscellaneous #2035Mr. Miller, Officers and Seated Directors.
This Forum was started with the intent of sharing thoughts.
To much lately I have been appauled by the way our First Ammendment Rights have been bulldozed by either Mr. Miller or someone on this Corporations Staff.
It is no wonder everyone wants to log into this site anonimously with no record for the exact fear of what Mr. Miller (and I say this because he is responsible for his staff and officers) did in exposing the position of Au Master, Master AU Miner and the other guy. Nobody wants to live in a country where they are supposed to have this freedom to speak out but it is being abused by a dictator namely Mr. Miller because he wants the law to work for him, but he does not share the basis to allow this freedom across the board.
Mr. Miller you say you are a US citizen, but don’t you know you have a responsibility by citizenship to uphold the same First Ammendment Rights to everyone.
There has to be a real person behind every user name, but after your little stunt of basically saying if you don’t say nice things about me, Im going to go tell my mommy and anybody else who will listen!
Well, every person here has a right to criticise you and if you don’t like it you can resign your position and leave this company. But just because you make this descisions, if there wrong then your going to here about it.
In fact it surprises me someone has not sued you and your management and board already for some of the descisions and positions you have taken?
But, what do I know, Im just a figment of your imagination, and you certainly will not defend my right to freedom of speech!
And I did log in ononimously so I guess this is one more person you can remove because I am not playing the dictator game fairly.
in reply to: Clips from Alleghany #2034No miners working yesterday or today. The Company is finalizing the gold specimen inventory for its year end physical audit and executing any other financial matters to close out 2003. Alleghany is covered with a blanket of fresh snow and all is well.
in reply to: Miscellaneous #2033To all of you in the 16 to 1 cyber world and the real world of the mine – a Merry Christmas to all and a Happy – come on MR. POCKET!!!!!!! – New Year. See ya at the annual meeting if not sooner – I still plan on doing my part in contributing my help to the work day concept that I created.
in reply to: Stock exchange listing #2031JQP
I have always tried to help the shareholders.
You don’t apply to be traded on the Pink Sheets, you are admitted to the Pink Sheets by a Member request and we are already listed there.
There are no filing fees and there are no financials required.
It seems like a good idea to put out some news releases and talk about our assets within a rising gold environment and the potential for those assets to produce profits. Mention that we need financing because the price of gold has risen to the point where it makes good sense to now get serious about developing those assets.
When a news release is put out to the investment community who knows who might respond with financing or develop an interest in the Company. Pay a premium price for a news release to make sure our message is heard all the way to Asia and Europe. These people are in the habit of investing in foreign gold related companies because of the shortage of gold mining companies in their own individual countries. People in the UK and in Japan have always had a healthy appetite for discovering that unknown little gold company. Give them what they want!
This is the environment in gold where the Company will get a real bang for its buck for putting out news to the investment community. There is money out there that wants an exciting gold idea to invest in. Even if nothing too exciting happens, atleast you have sown some seeds of goodwill that should be harvested at a later time when the gold prices are at a higher level.
You never know until you try.
Explain in the news release that we were once on the Pacific Stock Exchange but were delisted because our share price fell below the $1 share level. To the investment community this event will appear unfair to our shareholders.
It is in the nature of smaller gold mining and gold exploration companies to be in sporadic need of new financing. This is nothing to be ashamed about here. The more important thing is that we have kept ourselves alive and the Company is still in position to prosper from rising gold prices.
Oh yes, mention the gold slab potential. Mention that we are the only company that can provide this type of material to the jewelry industry. Mention on the release we can’t even export this product because local demand can not be satisfied. Mention that we need the money to produce more product for profits.
When the money comes in we can take care of all that accounting business later. The most pressing thing now is to get our message out.
Stephen Wilson
in reply to: Gold Enters Major Bull Market #2030Bluejay,
You make a good point?How about compliance issues as one thing! The Sixteen is no where close too SEC Compliance.
No Audited 2002 Returns, no quarterly filings for any of 2003 and of course now that we end 2003 probable no ability to get a 2003 audit done in the next 3-6 months for 2003 year end. And with no audit, probable no 2004 quarterlies.
Then to make a market and get back in a active trading environment another investment and 3-4 months time.
Total cost as management has stated in past statements on this site $150-250k.
Money, unfortunetly that this company does not have.
In fact I would bet that this company is already running in the estimated: “red” again even though it expected 125-150k from the sale of concentrates considering the electric continues to stay on and the bill grows monthly. In fact I liked the generalizeation which was just made comparing the last little find at the Sixteen to a 110oz per ton mine. Well if that were true, your investment worries would be over.
I don’t know what should be done, any ideas?
in reply to: Stock exchange listing #2029It is appropriate now with a higher gold price, coupled with the assumption that our assets should be also valued higher, that we reestablish the Company in the eyes of the investment community.
This can be easily accomplished with the aid of putting out some responsible news releases. Currently the only visible market available to us is the U.S.lower trading tier of the OTC market called the “Pink Sheets.” The Company’s X-Mart is not the real world.
Speaking to local people and possibly some others is not anywhere close to the real investment community. As an example of what is possible for no expense other than the cost of the news releases for display by the Pink Sheets go to Yahoo.Com under finance and call up the symbol CFTN.PK and compare it to OSTO.PK, our symbol. In the case of CFTN which is Clifton Mining out of Utah with a developing gold and silver operation, they have volume and price activity as a result of news releases.
In the case of the Original Sixteen to One on the Pink Sheets, is just plainly looks like we are a dead issue with no headlines or reports along with a last sale of 1 cent. Many companies that are either bankrupt or out of business look this way. Who would want to invest in OSTO? This would be a resonable question for a member of the investment community to ask considering what current information is not available concerning our company.
Our X-Mart was a good idea as a transitional device but with gold higher it no longer makes sense especially when the shareholders suffer as a result of their stock price of the company remaining flat.
When the gold price advances as it has, everything gold related gets lifted. In the case of the 16:1 we didn’t participate because we excused ourselves from the party just after it started. To place blame on any person or institution while keeping the company stuck in the mud away from visibility doesn’t make good corporate sense. You take the bumps in the road and you go on.
If the company is denied market visibility then it is basically operating as a private company and we shouldn’t expect anyone to care except those people who buy local newspapers.
The investment community is made up of the whole world. As each day passes there are more and more interested people looking to buy gold related companies. Why does the company hide from these prospective buyers while it has marketable gold in the safe.?
in reply to: Clips from Alleghany #2028The miners processed 100 pounds of high-grade remainders today in order to clean up the gold inventory for the year-end accounting. While seven ounces of Dore won’t reduce much debt, it verifies something long known by people familiar with the mine. The grade of ore is something that few if any mines in the world duplicate. Most gold miners today never even see any gold. Since gold is measured in ounces per ton, the crush represents 110 ounce of gold (.9999 fine au) per ton ore. Few professional geologists, engineers or others with careers in the gold business can relate to the richness of gold deposition found in the Alleghany Mining District. Scoop has talked with many analysts during his reporting days. None has ever understood the explosive nature of a mine like the Sixteen to One and that is unlikely to change with the latest group of gold gurus. With values such as the crush today, it is no wonder that the crew and owners of this mine keep the air compressor running and the pumps pumping. Hope is based upon faith. Faith is based upon knowledge and experience. Their belief is that more gold remains underground than has been recovered, and they have the collective desire and ability to find it.
Because the pour yield was so small, the company decided to offer it to anyone looking for some gold to own at the bullion spot price. For details call the office and speak to Rae. (530) 287-3223.
in reply to: Clips from Alleghany #2027Alleghany Volunteer Fire Department hosted an AWARDS potluck dinner this evening beginning at 6pm. All the trucks were parked outside to make room for the packed event. Chief Bob Hale, miner at the Sixteen to One, complimented many in attendance for their support. He was presented with a quartz and gold money clip that was made for the company by a North San Juan goldsmith, who recently died unexpectedly two months ago. Bob and the goldsmith, Rick Boone were long time friends.
The Alleghany rolling stock ranges from trucks built in 1970, 1975, and the newest rig built in 1978. The all-volunteer fire department received a special recognition award presented at the Downieville fireman’s dinner last Wednesday for effort, preparedness and eventual success in stopping the fire last September from burning the town and unknown acres of the Tahoe National Forest.
At the end of the ceremony what held everyone’s interest all evening were the raffle drawings. There were two raffles: one for a husky chain saw and one for jewelry donated by the Company. Surprise, surprise. The lucky winner of the chain saw was none other than the FORUM’s own contributor, Oak. Your ticket broke the hearts of all the guys in the room. Congratulations, Oak and thank you for supporting the community. Alleghany is the last operating hard rock mining villages in the Sierra Nevada gold belt and welcomes those who contribute to its future.
After filing this report, Scoop read the always-inspiring remarks of Rick in Gold Enters Major Bull Market and adds this about gold and money. Mike sold quartz slab yesterday afternoon to the largest jewelry manufacturer. The owner committed to buying $1 million of jewelry quality slab for 2004. Of the 13 ounces available yesterday, he bought 10 for a price of $1600 per ounce of gold. Nature created something very special under the village of Alleghany.in reply to: Gold Enters Major Bull Market #2025I for one am happy that gold is trading above $410 right now. Perhaps there really isn’t a conspiracy after all….
in reply to: Gold Enters Major Bull Market #2026What the heck, I might as well weigh in on the subject of the price of today’s spot-gold, from one who’s never traded any gold for currency, since my tiny collection is my hobby only, everything in it personal finds.
Sometimes close friends ask me about what “this” is worth or what “that” is worth and I only smile, because to melt it down and take it to a bank would yield a loss of memories and a few month’s gas-money, not to mention a complete lack of value. But I see their faces glow nonetheless.
This is a difficult concept for the investment-minded-pragmatist to understand, as they stare at a portfolio-stock page or into their deceased grandparent’s keep-sake box at what looks like raw, first-time-seen-by-humans gold, as they contemplate what monetary value it could add to the bank account, once someone figures out how to transform it from “stuff” into “money”.
I have a close friend with a specimen (one that he found) so spectacular that it defies “art”, if we allow ourselves to include those
encounters we silly humans’ve discovered that are created by that higher power (Lord knows we couldn’t pull it off as well)…He’s been offered many thousands for this crystaline piece, less than an ounce in weight…and seen under a scope yeilds an insight far beyond the morning’s gold-price fix.(Whoops, losing you?)
Here’s my point, relating it to the price of gold: As we encounter the raw form of gold, it’s prudent to see it as something other than a melted spot-price entry on the balance sheet. While the price of gold is relative to operational potential, it relates differently to the mega-extractors (who by the nature of their deposits would never have the opportunity to extract specimen, non-spot value) compared to small operations (AKA our 16-to-1) from whom spectacular specimens emanate. (For those of you new here, compare it to meling down family heirloom jewelry and sending it in for an assay and weight assesment.)
But, as economics dictate, it does relate to the price of gold, on some weirdo lever, as I’ve witnessed while Mike reluctantly condemns exceptional specimens to the flame, only to send it off as tribute in a never-ending political battle to stay afloat.
What a shame that so much beauty has been compromised by political mandate.
in reply to: Miscellaneous #2024For the moment, forget about drilling the quartz. From your description more serious and dangerous work faces you than looking for gold. The place to begin in reopening an abandoned adit is at the portal. Do not skimp on eliminating a sudden collapse of the brow or sloughing from the sides. Timber sets and 2-3 inch lagging, or if you can afford a piece of culvert, are first priorities. If wood is used, MSHA requires fire suppression ( a sprinkler system or a fire retardant paint, which costs about $60 per gallon. Once safely inside, ventilation as well as ground support become priorities. Compressed air is the preferred power for the work you described. Electrical wire is costly for prospecting. Buy the biggest compressor you can afford and make it diesel not gasoline. .
Next week your entry and this response will move to the miscellaneous heading. Please keep it active at its new location. The first old mine I opened up was the Morning Glory in late 70’s. I made lots of mistakes.
Good luck. By the way, my crew responded to the Tennessee mine in Sierra County a few years ago to rescue a man and a boy from a caved portal. It turned into a recovery mission when we discovered they were buried under a collapsed portal. We recovered their bodies about 6am after working through the night. It was an especially sad day, and ignorance or exuberance contributed to the loss of life. Don’t let it happen to you.
in reply to: Clips from Alleghany #2023Correction:
The high today on the world gold spot market was approximately $406. The current market at 22:56 NYT on gold is $405.40 bid and it’s offered at $405.90.
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