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- in reply to: Stock exchange listing #3227
Thanks for your questions and observations. Let’s see if Scoop the on-sight reporter can respond to your satisfaction. Please let Scoop know if you want further clarifications.
#1. You are correct. That was a typo.
#2 No, the bulk of the interest expense is for a $400,000 short term note at 12% plus fees every six months; overdue property taxes of approximately $80,000 accrue interest at 12% and some other bills in the Accounts Payable charge interest between 10% and 12%. The $400,000 is secured by a first trust deed on the mine property.
#3 The related party is primarily Michael Miller, who has covered operational expenses for awhile. The interest accrues at the same rate his bank charges for his line of credit. There are other related parties (shareholders). One is charging interest at the same rate as his line of credit with his bank currently 6.75%. The shareholders have gold as collateral. Miller is also secured with a note on mine property.
#4 During the recent and lengthy bear market for gold stock ownership, the company elected to conserve its dwindling gold inventory by placing the physical needs of the mine above all else. It terminated the outside accounting firm from signing off on the financial statements. The lack of one has nothing to do with what they might or might not say about the financial condition. To give you an idea, the cost of the last audit in 2001 was $27,800 (going up up and up because of federal legislation and specious law suits). Since the Company files as a gold producer, the SEC requires a SEC approved auditing firm anoint financials. Many qualified as SEC auditors had their errors and omissions insurance skyrocket, which is an expense that is passed along to the client. A SEC audit today will significantly increase over the 2001 date.
Once the gold collection is sold it will not be a problem to have the last several years audited. All of the financial records are being maintained exactly as they were when the company was being audited. An approved auditor independently audited year-end inventories, which were a significant figure. The last SEC auditors recommended this. The Company’s published Future Use of Proceeds includes a line item to resume audits to meet SEC requirements. Reenlisting should not be a problem that cannot be solved.
#5 The peaks and valleys, feast or famine or any other metaphor articulated to describe the Sixteen to One mine or many other mines affects exploration; however pundits acknowledge that the Sixteen to One is in a class by itself. Why? Sufficient geological data exists to support exploration. A high level of confidence for risk capital can be found because the gold has a provable history of concentrating in the richest “pockets” yet recorded. Working capital to fund a well-designed plan is the key to the Company’s success for over 100 years. Miller and the board chose to sell one of its valuable assets to implement Step One of its mine and company development plan That decision reflects just how important the physical mine properties are as well as the unissued treasury stock. Gold is offered for sale to get working capital.
#6 A convertible debenture is a grand concept and has been discussed over the years. It will not work along the lines you mentioned. There are 1,640 shareholders, but 1600 own less than thirty percent of the outstanding shares. The numbers do not support a pro rata offering.
The above represent factual information in answering the questions from the last posting. Scoop wants to stray into some opinion reporting.
1. In following the operation of the Alleghany mines under ownership of Original Sixteen to One Mine, Inc from 1911 to 1958, management did a fine job of controlling its expenses during some difficult times in the gold mining business. There was little or no shareholder dilution or loss of real estate. In fact some very good properties were acquired when other operators decided to quit the business. The slippery slope of a pending Gold Sector valley began shortly after WWII and bottomed out in 1974.
2. Current management (since 1983) has experience the world wide Gold Sector swings as well as some swings peculiar to itself. Right now is not a time of worry. It is a time of decision. The gold inventory value exceeds the liabilities, which is why a gold sale is the current focus. How much will be sold and at what price are questions that never go away. Priceless is how many over the years have reacted to Sixteen to One gold.
3. Therefore, “we seem to be at a critical juncture in the log jam” (see below), is not an accurate perception of Company status at this time. It was more critical a year ago when the mine plans to open the 1000 foot level and search for some short term targets were started.
3. In response to Question Number 6 below: entering an equity position in a company is a choice, usually a logical one based on all available data at the time of purchase. The same goes as a seller exiting equity ownership in a company. It depends on many factors: size of investment or speculation, expectations, length of time for development and foremost, opportunity to play. If there is a better risk/reward speculation than betting on the Sixteen to One mine, play it.
4. The Company purchased three historically valuable mines over the last dozen years. It is doing what a gold mining company should do rather than what a gold stock dependent company does. It is in a position to respond when investors take a fresh look making money in gold.
in reply to: Stock exchange listing #3226Good morning. After reviewing the annual report and proxy statement, I came up with a few questions:
1. The 2006 EPS is listed as (.001). Shouldn’t it really be either (.009) or rounded to (.01)?
2. We show 2007 Interest Expense of $(106,207). Is nearly all of the interest expense attributable to the $677,598 Due to Related Party? If so, the interest accrued is somewhere above 15%. Is that directionally correct?
3. What are the specifics of the note due to related party? Is it secured by a first lien on all or some of the properties? Who is the related party?
4. We no longer have our financials signed-off by an outside accounting firm. While that in and of itself doesn’t bother me, it presents a worry that (a) we’ll have an even greater hurdle to get listed on an exchange and (b) one of our directors is a CPA yet we couldn’t find another CPA to sign-off. Is it that any impartial accounting firm would give us a “going concern” warning given our lack of liquidity?
5. As for the lack of liquidity, we seem to be a critical juncture in the log-jam that has been building for nearly the past decade. If lay-off notices were given in November, we shouldn’t expect the mine to provide liquidity in the short run since the exploration is on hold. We must go to the financing side of the balance sheet to provide the liquidity.
6. To raise funds instead of continuing to offer common stock to a single large investor at $1 per share, why not consider something like offering convertible preferred to current shareholders? Because of the lack of liquidity in the common, it is hard to determine what its true fair value is. A preferred or convertible debenture offering could be structured as something like 1/25th of a share offered for every common held, priced at $10, and payable in kind annually at some rate between 5 – 10%. The math could be worked to figure out how to raise the level of cash the company thinks it would need for a 5 year project. Something like this has to be figure out since no logical person will buy a block of new stock at a $1 per share when he can fish on the pinksheets and grab existing shares for far less. Clearly the company needs liquidity since in its current state, nothing will change.in reply to: Miscellaneous #3225Hecla mining just had to sell their Venezuela mines,this is the oldest precious metal
producer in the United States.I was thinking I might talk to them about that 10% or buying the gold collection unless someone in management or anyone else for that matter has something they don’t like about it.I am going to tell them that in my opinion their is at least 1 million recoverable ounces that can be got at,theirs more but it just might be too far down & thats just the Sixteen to One itself.With the price of gold it’s a kinda sad your not blasting away.Maybe you can work something out with Bullion River and open the Brown Bear.I would like to go after that target confirmed buy core samples sixty five feet down myself.
Can not make it to the shareholder meeting,will be up in July better lock up the bars hide the women & load the gun’s.in reply to: Miscellaneous #3224Hi Robert!
I do remember you! So glad to hear you are doing well. I think of your mother often. She was a fun person to work with. We were all shocked and sad to hear of her passing. She would be very proud of you.
Thank you for the well wishes, if you are ever up this way stop by.
Sincerely,
Rae Bellin reply to: Miscellaneous #3223Well hello 16 to 1 peeps. Been awhile since any of us seen one another and figured I’d give hello’s that are a bit past due, at least by 13 years. Good to see Mike Miller and Rae Bell are still in the bussiness. I was one of the rascals that visited Alleghany every summer visiting my mother Dayna Lee Lynn (she married Dan Lynn btw!) My name is Robert Phillips, the kid with the loud dirt bike. I volunteered during some summers to work with my mother during sales events that took place in near by cities at the fair grounds. But of course being a kid behind a counter when at a fair ground you could imagine my attention being onsided away from work.
Yup, that was me. Dont know if any of you remember but around that time I was’nt the sharpest knife in the drawer. But I would like to think that I’ve matured alot since then and I’ve had help from the Marine Corps in straighting myself out. 8 years of active service and have earned many awards and made quite a few achievements. With my personal story aside, I just wanted to drop by and say hello and that my experience with 16 to 1 growing up has been one of some of my best memories growing up, and considering 16 to 1’s long history I hope that the mine continues to stay productive for many more years to come. Wish you all best of luck and good health.
– Robert –
in reply to: Gold Enters Major Bull Market #3222Jun 3 2008 10:22AM
Gold
What is the biggest mistake you can make with your money in 2008? Ignoring gold, silver and their related inflation hedges can lose you more money than all the other mistakes you can make put together, except for playing the roulette table in Vegas.
Once in a lifetime, there comes a chance to turn a relatively small amount of money into a fortune, and this is one of them. We are in the early stages of a massive multi-year bull market in the metals. The supply-demand situation beggars belief. This is as close to riskless as anything I have ever recommended in 31 years of publishing The Ruff Times. You can put a list of mining stocks on the wall, throw a dart at them, invest in the holes and make a lot of money, in effect creating your personal mutual fund. When the wind blows, even the turkeys fly. Of course you can make lot more money picking the sheep from the goats, and that is what the Ruff Times is for, separating the biggest winners from the holes in the ground surrounded by liars.
A word of caution: all my words of advice are for the long term only. In the short term, gold and silver can do anything, go anywhere. In the last bull market of the ‘70s-‘80s gold went from $120 to $850, but there were discouraging retreats of as much as 30% several times along the way. It was attacked by speculators, central banks, and even Uncle Sam through Jimmy Carter. But gold and silver prevailed, even though chickens bailed out from time to time. I was new to the advice business back then, and even I got scared out once for a little while.
Actually, this is “déjà vu all over again,” as said the master of malapropism, Yogi Berra. It’s an eerie repeat of the 1970s, only more so. All the same factors that drove that historic 1970s bull market are back, only a lot more so; an explosion of money creation by the Federal Reserve that is so great they have even stopped publishing a monthly report on M-3, the most trustworthy measure of changes in the money supply. I guess they no longer know, or don’t want you to know, the embarrassing numbers.
Actually, it’s worse than that. Did you know that the phrase “printing press” no longer means much when it comes to money? Actually, less than five percent of the money is actually minted, printed or coined! The rest of it is in cyberspace, created at the Federal Reserve, or by commercial banks. The amount is beyond comprehension. This process is called “monetary inflation,” and that is what ultimately drives price inflation and drives gold and silver. The more money is created, the higher go the precious metals.
Also, they react to the prospect of war, or actual war itself, and America has never been more threatened by war that will affect us at home than we are now, by terrorism and nuclear proliferation by rogue nations.
History tells us that ever since the invention of Guttenberg’s movable type press, and the subsequent development of paper currency. The average time each currency lasts is 50 to 75 years before the world is littered in dead paper currencies, and until we invent a new one, gold and silver coins reign supreme, but not before they soar to the moon in value. There is not a time in human history when gold and silver have not been considered real wealth and instinctively turned to when paper decorated with ink has become so much confetti.
How long will it take us, and are we near the brink? No one knows. We have become immensely sophisticated at postponing the inevitable. It might be five years, ten years, or twenty-five or fifty years before the inevitable drama plays out. But play out it will.
In the meantime, we will make a bundle in the metals and their derivatives. In fact, they will be a new way for the middle class to in effect print money, and in dollar terms, the metals are going to the moon. $2500 gold or $125 silver anyone? And what about 500% to 2000% profits in the next few years. That is written in cement over the next few years – or in gold or silver.
By Howard Ruff
The Ruff Timesin reply to: Miscellaneous #3221From the Financial Times
Fate of U.S. mining law hinges on gold miner’s son
Posted: June 15, 2008, 1:42 PM by DrewHasselback
Mining
Away from the glare of an entertaining U.S. presidential election race, a very interesting political debate is taking place in Washington over the 136-year-old federal mining law.The Mining Law of 1872, which was designed to spur investment in the American West, gives miners the right to extract minerals from U.S. federal territory without the need to pay the government royalties. It’s a sweet deal, given that other natural resource businesses need to pay royalties for their activities on federal lands.
The mining industry obviously loves the arrangement, while critics have complained the law gives miners a free ride.
An amendment before the U.S. Congress would require existing producers to pay a 4% royalty, and slap an 8% royalty on future operations. Proponents of the legislation say the royalties could raise more than US$300-million over the next decade.
But here’s the kicker. The fate of the amendment is in the hands of Democratic Majority leader Harry Reid — something that could confound mining critics, Bloomberg News reports. Reid hails from Nevada, one of the world’s largest gold producers, and his father was a gold miner.
Drew Hasselback
in reply to: Miscellaneous #3218Charlie’s friends at CAMCE will be placing a plaque at the Washington Hotel in Washington, CA. All Charlie’s friends are welcome. Let me know if you would like to also say a few words.
Charlie Schultz Plaque Dedication
Sunday, June 29, 2008 at 11:00 AM
Washington Hotel
Washington, CAQuestions: Please contact Ric at CAMCE.ORG 925-600-1026
in reply to: Clips from Alleghany #3216Mike was seen driving by with a bunch of school kids today and yesterday. Yep. He’s the new tour guide at the museum. Feedback has been very positive from tour participants!
Weather is cool & partially cloudy in Alleghany.
Glenn Knapp was out rototillering in the new “community garden” located in the old Alleghany School yard now owned by the 16 to 1. It is hard to wait until June 1st to put those veggies in the ground but that is our official “frost free” date! Time to plant!
A draft copy of the 100 piece 16 to 1 collection catalog was recieved at the corporate office yesterday. Hopefully we will see the real thing soon!
More photos of items in the collection were posted on the web-site today. Look under “news”.
1300 pieces of mail addressed to the shareholders of the Original Sixteen to One Mine, Inc. went out of the Alleghany post office yesterday and Monday.
Preparations for the annual meeting are beginning. Two local women who have been baking delicious pastys at Casey’s Place will be providing the lunch this year. Not all pasties are the same. If you’ve had a bad one, give it a second chance because the good ones are really good! Pioneer Pasties is the name of their business. 530-263-4401.
Nothing to report from the mine except the PG&E bill was higher last month thanks to more pumping.
in reply to: Miscellaneous #3217Hi All,
I would like to echo the sentiments of my brother Greg concerning our recent tour (May, 2008) of the Sixteen to One mine in Allegany. From the museum to the mine, the day exceeded my expectations. This was not one of those “fluff” tours that skim only the surface. It was a complete experience leaving one to want to pursue the process and have an understanding of the issues surrounding mining in America today.
Mike Miller was our guide throughout the tour and his vast knowledge and enthusiasm of, and for, the industry was apparent from beginning to end. I for one have been motivated by Mr. Miller to pursue the issues surrounding the industry. I am presently a biologist for a pharmaceutical company on the East Coast. I have been a researcher for almost 30 years. While I do not claim to completely understand the chemistries and the protocols involved in the purification and processing of gold, I am willing to begin my own process of attempting to understand the issues. For example, Mr. Miller had mentioned the use of Mercury and the effects of Methyl Mercury. I will begin to gather some information and educate myself on this and other issues in the processing and purification of gold. I will try to gain an understanding of the release of mercury into the air and waterways and the effects of converted mercury (organic methyl mercury) on wild life, and the food chain. I will also try to understand how to prevent release in the first place. I will say that I plan to look at the pro’s and con’s and remain open-minded as to the risks the process brings to our environment. Most importantly, I encourage anyone with time and interest to help in a search for safe use of materials involved in the mining industry. I would encourage the stockholders and other professional and amateur mining enthusiasts to join me in an understanding and be involved in discussions leading to the development of safe practices in the industry. Also, the leadership, stockholders, and others involved in mining as an occupation or hobby need to brainstorm on ideas of how pertinent educational information can be disseminated to parties who would have concerns or may have been misguided in the past (peer reviewed journal articles?) I believe science (and cooperation of the mining industry) can lead the way to a new frontier of mining that will avoid the mistakes of the past. Through safe practices and environmental controls the industry will be responsible for demonstrating the many uses of not just gold, but also the use of by-products of the process in our society.
On this recent trip to the mine, I had the opportunity to see much of the California countryside North of Grass Valley, Ca. I for one was amazed at the expanse of this area and the potential to utilize some of our countries resources for the good of our people. I do understand that we are a global economy and need to face that issue, however, I also believe that as Americans, we have the right to pursue certain dreams – one is the pursuit of happiness.
On our tour, we spoke a little of our love of this country. We spoke of our rights, our right to dream, our right to pursue a living and find happiness doing so. Being in the biological sciences, we have overcome many obstacles in dealing with hazards in the laboratory workplace and have taken huge steps in focusing on preventing damage to our environment. This needs to be a priority in the industry if they wish to garner the support of the people. The people that I have met show the enthusiasm to find solutions to problems that exist and are more then willing to listen to solutions. We need to allow the people in this country the right to dream. Let me get to some reading and I hope to have some fruitful conversation with other parties that may be interested.
Sincerely,
Danin reply to: Clips from Alleghany #3215I organized the event for six years and burned out. Drunken miners became a huge liability concern as far as the drilling contest goes. (It only takes a few to create a scene)
Maybe somebody will decide to bring it back next year.
in reply to: Clips from Alleghany #3214Is it true that Old Alleghany Days will not happen this year. I found it to be a very enjoying day and thought it was quite a successfull event. I have over forty photos on file from last year. Hope it is not to late for Scoop or Rae or someone to put it together !!
in reply to: Miscellaneous #3213My brother Dan & I had the awesome opportunity to tour the 16 to 1 on Sat. May 30. Man what a great day!! We first met Rae at the office & continued with her over to the museum. There we met Mike Miller. What a great guy! I first asked him where the McDonalds was at( We saw the Golden Arch sign nailed to a tree on the way into town!) We also met another gentleman “Dave” who also came for the tour. The whole tour was so much fun & educational. Mike’s dedication & commitment to the 16 to 1 was evident throughout the tour. Thanks Mike. Go for the Gold!!
in reply to: Miscellaneous #3212“Wow, there’s a round rock at the top of a mountain! How did that happen?”
I met with Mike today at the mine and we were both marveling at the millions of years of geologic history we witness on the surface. History in our hands.
And then we find the tenacious revolutionary history-re-writers who want to paint the gold rush into modern day environmental concerns (faulty as they are.) and say how damaging it all was….um, trying to rewrite the facts of
how California transformed the state of the world.On stage now, the Sierra Fund, here to save the foothills and the entire mother lode from something that already happened. What? How can you do that?
Can they incite the masses into believing everything that built our State of California was wrong and insensitive and just, well, wrong?
They are actively painting our history as “wrong” …another guilt method to achieve your soul into accepting their submissive socialistic mantra.
Today I celebrate the wisdom of all of us, who see through the designed trap. Go look at a round rock and wonder how it got that way…or go look at Yosemite Valley and wonder where the glaciers went. Or marvel at the 49-ers drive to succeed without a mother-ship of government.
Who is against a good “environment?” What a convenient trap. It serves well for the Sierra Fund, who forgot history and is in the process of attempting to say why history was wrong.
No, it is right, because it happened. Duh.
in reply to: Stock exchange listing #3210Somebody named Curtis Davidson sent a note using “feedback” about a bid to buy stock. He did not provide a return e-mail address. Curtis if you see this message please contact the corporate office. corp@origsix.com or call 530-287-3223. I am not sure how you submitted your bid but we did not recieve it and we need your contact information in order to post it.
Thanks.in reply to: Miscellaneous #3208All in all, both sides of this have valid points, and the truth is that many people did see the presentation and got to witness the ferocious tenacity of Mike’s love for the Sixteen to One. I guess at this point we count our blessings!
Lets make the analogy to vendors at ski resorts…many times they pay to to have their beer poured and often have to give there product away, all based upon exposure to the label.
Is there anyone out there who tevo-ed it? Did anyone save it on tape? It would be good to have in the archive and well worth the $100 price.
in reply to: Miscellaneous #3209Rick, the last response about the TV segments is below. It’s just a different attitude out and about from so many things we did in the past. I admit that much has been lost for some valid reasons. My wish is for “some valid reasons” to go away. Most of the people I interact with express their opinions about what has been socially and culturally lost over the past thirty plus years. Oppressing ignorance and professing enlightenment are solutions to many problems. or situations we find today. This ABC forum topic will either be moved to misc or deleted altogether soon.
Come on up next week and detect some gold from the ore pile and I’ll go buy the two newscasts for a hundred bucks. What the heck! It cost me that much to fill my truck with regular gas.
===============================Mr. Miller,
As Laura stated, we really do appreciate all your efforts to help Laura with this story. However, we do not, under any circumstance, give out raw video that never made it on the air.
We would, in fact, fight a court issued subpoena to do so.
Furthermore, we do not give out courtesy copies of the stories we’ve done simply because if we did one, we’d have to do it for everyone who asked for a copy. We simply cannot handle the load of dub requests.
So, we have a dubbing service in place that handles those requests at a charge. That number is 415-954-7005
Once again, I thank you for your help and am sorry we cannot accommodate your requests.Stephanie Adrouny
Assistant News Director
KGO-TVin reply to: Clips from Alleghany #3207It was very hot last Sunday (90’s) and has cooled off progressively throughout the week. The weather forcast is calling for snow showers above 6,000 feet tonight. Such is spring in the mountains. It is weedeating time in Alleghany!
The 10-Q (1st Quarter Financial Statement) was filed timely with the SEC on May 14th. I did the filing from the Public Library in Butte MT. E-mail a note to corp if you would like a copy or click on the link to the SEC site under “The Company”. My page breaks on the SEC site don’t work for some reason so if you want a formatted copy send an e-mail.
The museum had its annual membership meeting last Sunday. Six members attended in addition to three Board Members. Re-elected to the Board of Directors were: Ian Haley, Dr. Ed Metz and Rae Bell.
There will be a small ceremony at the Firehouse in Alleghany today as Fireman’s Fund Insurance Company presents a Grant check to the Department for the purchase of equipment. There should be a photo in the Mountain Messenger next week. I wrote the grant and we got $7,500 for specific equipment requested plus a Thermal Imager that retails for about $13,000.
The 16 to 1 annual meeting mail-out will probably go out at the end of next week. There have been a couple glitches that are slowing things down.
Not a lot to report from the mine. The water level is down and everything is being maintained as well as it can be. Time to start cleaning up for the annual meeting!
in reply to: Miscellaneous #3206Hi Mike,
I will forward your request to my assistant news director, Stephanie Adrouny to see if there’s any chance of getting copies from KGO, but as far as I know, the station charges a fee as well. Under no circumstances (except under court order) would the station release the raw video, so that’s probably not going to happen.
While we appreciate all your efforts, we never made any representations to you that you would be compensated in any way shape or form, except to give you a chance to tell your side of the story, and showcase the Sixteen to One and your gold collection to a huge audience in the Bay Area. As you told us, you were hoping to attract investors with the stories. As I’m sure you know, that kind of television exposure is worth many thousands of dollars more than the price of a video clip. I’m sure the kind folks in Downieville were well-served by the exposure as well in terms of attracting potential visitors.
Not providing compensation is just how things are done by legitimate news organizations, which is quite different from how the Discovery Channel or A & E would operate, since they are entertainment programming. Every time we do a story, someone–many, many people–give of their valuable time and expertise and nothing but a chance to tell their side, or their story…is ever offered in return.
Finally, I do apologize for our inability to get to Mr. Shoemaker on time, but I certainly never asked you to make that long drive etc. I called several times and left numerous cell phone messages that afternoon to warn you we were running late, but you never picked up. Perhaps then we could have rescheduled Mr. Shoemaker without you both standing around for so long. We simply underestimated the time it would take to get from place to place up there and shoot all that was needed to make both stories complete.
In the old days, stations like KCRA did make copies for people, but they too began charging at least ten years ago. It’s just part of the economic downturn TV news has taken.
In any case, I will forward your request to Stephanie and let her make the call.
Thanks,
LauraDear Laura,
Thank you for taking the time to educate me about the changes in the news business. Please believe me, I know the value of media exposure and am always grateful for the coverage. I was not nor has anyone associated with the mine sought compensation for the time and expenses spent showing gold or our operation to the media. I wish there was more interest and time to develop media presentations by the media. Audience interest has been wide spread and it is a pleasant adventure for many viewers.
I appreciate you forwarding my request to the KGO staff. Regards, Michael.
in reply to: Miscellaneous #3204Just back from Butte MT and sorry to hear of Charlie’s passing. My father worked and was caretaker at the Carson Mine near the Ruby Mine. My mother always invited Charlie in for coffee when he came for an inspection. My brothers and I were kids and Charlie would always take the time to make us laugh. I also will remember him as one of the funniest people I have ever known. Direct and funny. We need more like him.
in reply to: Miscellaneous #3205To: laura.anthony@abc.com
May 19, 2008Laura,
Amy charges $50 per clip. She suggested that I get it from KGO, which provides that service. A $100 hit seems out of line for what I did to help you get a well rounded story. I set up two interviews in Grass Valley and actually drove forty miles to meet Bob Shoemaker at 3:00 pm. I kept him waiting until 5pm when he had to leave. I stayed til about 5:30 waiting for you. You got a tour of the mine, including time from two miners. I took you to Downieville for a real panning experience and set up a world class gold display for you to shoot.
All of us associated with the mine go the distance to provide the media a true glimpse of hard rock mining. We believe in education and realize that most people find gold mining interesting but foreign. We have asked and always received copies of their shows and in most cases a copy of the video for our files. It is the quid pro quo that keeps everyone working together. It never hurt the Discovery Channel, A & E network, good old Huell or John Iander, who you may remember from your Sacramento days.
So I ask you to ask KGO to copy the two episodes including the introductions and if possible release the video from your mine shooting and send us the copy. It is not much to ask for the costs provided Kgo to get this story. Perhaps I may have told you that I do not have a television, so recording the newscasts was not an option.
Sincerely, Michael
in reply to: Stock exchange listing #3203Have not used it to get Sixteen to One stock yet & am thinking about getting a third,,Wells Fargo because a stock broker i know & trust kinda just started working their.
………………..
Thusha
http://fasttrackitc.com/sp/in reply to: Miscellaneous #3202Thank you Mike, and others for your kind words for Charlie Schultz. In addition to his dedication to mine safety and the well being of miners, Charlie was also a capable geologist and engineer.
Aside from being a respected mining professional Charlie was blessed with a wonderful sense of humor. One of the most notable characteristics of Charlie was his ability to tell a story or a joke. I can remember on numerous occasions when Charlie had me laughing hysterically. I will remember him as one of the funniest people I’ve ever met.
The mining community lost one of its own when Charlie passed away. The Sierra Nevada Mining and Industry Council (SNMIC) miningcouncil.org has recently formed a committee to erect a plaque or memorial bench somewhere in the town of Grass Valley to honor Charlie Schultz and his contribution to the mining industry. Our committee within the SNMIC will work with the City of Grass Valley or possibly the Empire Mine State Park to find a suitable location for the memorial. The wording for the plaque has not been scripted yet as this project is still in its infancy. Donations of money, time or ideas for a memorial would be appreciated. Please contact me with comments or questions at 530-271-0679 x 114
Thank You,
Bill Wattersin reply to: Miscellaneous #3201Those SF stations have a liberal philosophy and are
based in a liberal town. My
advice is to get coverage from
a FOX affiliate (ch40, Sacto)
on the subject. Have no fear
of past indian genocide, with
the indian casinos in place they are now REALLY getting back at the whiteman.in reply to: Miscellaneous #3200I urge everyone to access the report at http://www.abc7news.com under special reports. If your computer is too slow to see the video, the text of it is written below the link. There was a comment that puts the 16 to 1 in a particualrly good light.
Apparently a second more extensive video featuring the 16 to 1 will be aired tonight. I will be curious if the editors will differentiate political posturing (remember Goldmaster’s crap?) versus the actual practices used in Allegany. I’m certainly going to be watching.
in reply to: Clips from Alleghany #3198Hey Scoop, you might want to lay low after that crack about dented pick-ups. About half of Sierra County might take notice of that one. But, if you were just commenting on Mikes truck… Nope, can’t help you out there, either. Boy, talk about painting yourself into a corner!!!
in reply to: Miscellaneous #3199MAY 13 6PM TV ON ABC NEWS……… ….May 14 11pm TV ON ABC NEWS
A reporter from Channel 7, KGO television station in San Francisca (an ABC affiliate), called me about a program she was working on about the devastation of the Sierra Nevada Mountain Range and the toxic waste legacy of the California gold rush. She was told that I had the only operating gold mine and wanted to know what I thought about that. After some conversation I agreed to find some competent people to talk about these wild and untrue claims and would also show her an actual mining operation.
She filmed on April 30 and May 1. Who knows what the finished result will be but you and I can find out by going to http://www.abc7news.com after the shows are on the air.
Tuesday May 13, 2008 at 6pm Channel 7 in San Francisco.
Wednesday May 14, 2008 at 11pm Channel 7 in San Francisco.Another nonprofit is exposing “Mining’s Toxic Legacy and the genocide of the Indians by the gold rush miners, well funded and intent on fixing their perceived issues. If you want to learn more, go to http://www.sierrafund.org. I anxiously await your comments.
in reply to: Clips from Alleghany #3197Mike is working with an old friend, Fred, to market and sell the 100 piece gold collection. Fred has been at the forefront of selling and buying Americana stuff for many years. He also was involved when the sixteen to One contracted with Butterfield & Butterfield (San Francisco) to hold the first gold collection auction way back in 1995.
Mike wanted the catalog in circulation last month, but at last it is in the hands of the printer. The catalog is on eighty-pound glossy paper, 28 pages of high quality photos, descriptions and text. Soon it will be up to some wise, wealthy and fortunate person to purchase the mine’s gold collection for his own. Scoop wishes he were that lucky person.
The mine (underground) maintenance program has been on hold for ten days. A vital part for a broken piece of equipment was ordered out of Canada and has yet to arrive in Alleghany. There is always surface work to do, especially before the annual meeting the end of June.
During the past three weeks some very fancy cars parked outside the mine’s office. The financial situation is very open and transparent and Mike certainly is actively seeking out the most favorable way to implement the work he proposed months ago. Although fancy cars don’t always mean rich drivers, fancy cars are probably better than dented pick-up trucks.
It is an interesting fact that little attention has been given the Gold Sector while the spot price of bullion has been strongly held at all time highs.
Weather report: clear and warm. A week ago the most impressive lightening show surrounded Alleghany. It was the event of the year. No fires were reported.
I gave a special tour last Thursday, advertised it in the Grass Valley shortly before the tour date. One of the guests made a snapshot presentation for the internet at http://www.kradec.com/sixteen/index.htm
I wrote him hoping to see more pictures. Geologist Ray Wittkopp is standing next to Jay (wearing the red lite hard hat
in reply to: Miscellaneous #3194Charlie was a great friend to us at CAMCE. We will miss him very much.
We are planning a dedication in Washington, CA around the end of June. Please watch the http://www.camce.org website for the final date.
Email us at the address on the website for more information.
in reply to: Another U.S. precious metals miner goes foreign #3193Why not just go fishing in
either the Yuba, the Downie
or Kanaka Crk. and hunt for
the wedding ring attributed
to Juanita the “ghost fish”?in reply to: Another U.S. precious metals miner goes foreign #3192I think a few million dollars is all they need, and a substantial interest could be purchased.
………………Thusha
Wow, check out this site called http://www.fluc.com. Free SMS and free mobile ads!! Its fantasticin reply to: Miscellaneous #3191It is doubtful that anyone working in mining in northern California failed to cross paths with Charlie Schultz. My experiences with Charlie spanned thirty years starting at the Morning Glory gold mine in Alleghany and ending at the Empire mine in Grass Valley in 2006. He gained respect because his intentions were usually ‘on-his-sleeve’, his conduct was respectful and his attitude was positive and helpful. When this topic surfaced on the FORUM my thought was, “Hey and hurrah, old Charlie got someone to put his thought (of course related about mining) on our web site.” Charlie stayed away from computers, FAX machines and cell phones. He drove the California State Parks people crazy because he communicate the old fashion way.
Charlie and I had a rip-snorting laugh over his first death. In 2004 I was looking for Charlie to accept the position of inspector during my contract with the State of California and the adit project. I got Charlie Schultz’s number and was told by his daughter that he recently died. I was shocked. I told her how fortunate we in the mining business were because of such a great man to see us through our regulatory maize. I went on and on about how wonderful her dad was and how I would miss him. She invited me to his funeral and to speak because many of his relatives did not know him very well. I said that I would.
A couple of days late Charlie phoned me and said he heard I was looking for him. I said, “Charlie, I thought you were dead!” He replied, “Wait, let me see. No, I may be old but I’m not dead yet.” I told him the story. We had a few laughs during the following two years we worked together at the Empire.
My first run in with Charlie was during his inspection at the Morning Glory. Tom Woodfin and I were opening the underground workings when he showed up. He was very gracious and did a surface inspection of our operation. Tom and I built a wooden bridge across Little Kanaka Creek about five feet wide, twenty feet above the water with mine track down the center. We pushed all our supplies and equipment over the bridge to get to the portal and used it many times each day. We never got around to putting railings on the sides and never were really concerned about the lack thereof. So, here comes Charlie walking across that bridge. He stops and says, “Boys, don’t you think a couple of railings are needed here? I think one of these regulations would require it.” I didn’t want a citation but had to give Charlie a reply to his question. I said, “No, Charlie, we don’t see the need for any railings. Its safe and besides it keeps anyone walking on the bridge alert so they won’t fall off. It keeps us on our toes.” He just looked at me for a while, probably wondering what to say next. Finally he said, “Well, I see your reasoning but railings will be better. Next time I come this way, I’d like to see them on this bridge.”
After Charlie finished his inspection he sat down with us and told us his hobby was collecting pocket watches. He went to his car and brought back a nice case full of pocket watches, open the case and told us something about each watch and how much it cost. We thanked him for the look and he left. Tom and I were quiet for a while. Tom said, “Mike, do you suppose we were expected to buy one of his watches?” I said, “Tom, the thought never occurred to me but maybe we should have or maybe we should on his next visit.” We had more visits from this federal mine inspector but we never bought one of his watches.
Charlie visited us one time when we had successfully de-watered the next level of the mine. We would scrambled up and down the 100 plus foot decline using a rope for support. Building ladders took time and money, things in short supply for us, plus we saw nothing unsafe. Charlie stood at the top of the shaft and looked down the dark hole. I said, “Charlie, the pump is down there. Do you want to see it? We can walk down for your inspection.” Charlie gave his great typical look of a wise experienced man and said something I have never forgotten. “Mike, mine inspectors don’t like to go down ropes like this because they don’t know who may be standing up top with a knife. Next time I come I’d like to see some nice ladders or stairs down this shaft.”
This is how Charlie treated us and I bet how he treated many of the men he inspected. There was never any doubt that he cared for our safety. He had a lot of respect for the miners working at the face of danger. He also knew how to get the best results to encourage our safety. Every time he left us, we immediately carried forth his gentle wishes or demands out of our own respect for him and his position. He quit the federal program and became an advocate for the miner as federal policies changed towards inspections. Instead of Charlie’s way, mutual respect and mutual admiration for all in the business of mining, inspections became enforcement via citations and financial penalties. We miss you, Charlie.
So later today I’m going to the store to buy two bottles of whiskey. One will be the cheapest on the shelf because Charlie would drink anything. The other will be the finest because he deserves the best there is. Charlie, heres to you. The pit of my stomach feels an immense pain for your loss, but my eyes and mouth are all smiles right now just thinking about you. I am honored to have known you. Tap ‘er light.
in reply to: Miscellaneous #3190Sorry to hear of his passing. Charlie was a good man, helped me out anytime I needed some. I received my mine safety training from him back in 1996, Thanks Charlie!
in reply to: Miscellaneous #3189For those of you that knew Charlie, he passed away last week in southern california after an unexpected complication from an illness. Charlie was known by many in the area and a respected mine inspector throughout the region. We will truly miss is canid miner spirt, and all that he did to keep our operations in business. I am glad I had the pleasure of working with Charlie over the past several years.
RIP Charlie
in reply to: Clips from Alleghany #3188Us gold hounds here in the tradewinds appreciate the latest weather report. Keep the temps in the 80s and will see you in a few weeks.
in reply to: Clips from Alleghany #3187For you out-of-the-area gold-hounds, here what Scoop sees and feels outside. It’s a no burn day but there is no wind. Temperatures dropped the past two days from the high 70’s. Blue sky with a couple of helicopters crusing the ridges of the Middle Yuba River. If your wood styove was cold last night, you hated to get out of bed this morning.
END of weather report.The April 28, 2008 issue of COIN WORLD hit is subscribers with a story. “California gold mine struggles in ‘famine’ see page 18. Editor Beth Deisher wrote a terrific story complimented by nine impressive photos of the Sixteen to One gold collection. It might be available at newsstands or coin dealers. It is a very worthy prize to find and keep.
The company of Hollabird, Kagin Americana is marketing the sale of the gold collection. It has a catalog ready for printing, which will be circulated to its list of customers. Fred Hollabird said copies are available for $25. The address is 3555 Airport Drive, Suite 308, Reno NV 89511. Phone number (775) 843-0229.
THE FOLLOWING NEWS RELEASE WILL BE FEATURED IN TOMORROWS MOUNTAIN MESSENGER:
Last year’s gold production at the Sixteen to One mine was a bust says Michael Miller, the company’s president. Facing famine he pragmatically concluded that in order to keep operating and searching for gold, the company must sell its museum quality specimen collection. “For me it’s personal,” Miller said. “Its almost an indication of defeat. I’m intimately involved with each piece.”
The collection comprises 100 items, many crystalline gold specimens existing in their natural state. Some of the pieces were commissioned. These artistic gems were created by lapidary artists carving the prized high-grade, gold in quartz from the mine. The creations include a bear, an eagle, a trout, a complete jug band and other miniatures depicting miners and life from California’s Gold Rush era.
The mining company valued the collection at $3.5 million shortly before the recent rapid increases in the price of gold. Many of the pieces will be on display today (May 1) in downtown Downieville at Sierra Gold store from 4pm to 6pm. This will be the first major public display and regrettably, perhaps, the last. The store will be open to the public and there is no charge to view the collection.
in reply to: From the Sixteen to One Archives #3186The Mountain Messenger Vol. LXXX Saturday April 15, 1933
Headline: Sierra County Is Discovered By “Believe It or Not” Ripley of Examiner Fame
Story: Had it not been for the famous Ripley, who goes poking about looking for unusual things, Sierra County might have gone on indefinitely without become known to the thousands upon thousands of people who live in the cities of the bay district.
But, “believe it or not” Ripley finally found us. In a recent issue of the San Francisco Examiner he tells about the 164-pound chunk of quartz which was taken out of the Sixteen to One Mine at Alleghany in 1927, which contained $26,800 worth of gold.
The account of the find was accompanied by a photograph of the high-grade, which seemed to make quite an impression on Ripley. But, believe it or not, that gentleman could learn many more interesting things about Sierra County besides the fact that the richest gold mine in the world, for its size, is located here. End of story.
Well, will someone “who lives in the cities of the bay district” please find a copy of that San Francisco Examiner so all of us can see that chunk of high-grade?
in reply to: Gold Enters Major Bull Market #3185Rick
The dollar is 71.25 this morning. It is making a five week low and in position to continue lower in the days ahead.
Your question concerning its correction appears directed at its upward correction. My opinion of its recent strength is feible at best.
Remember, according to James Sinclair, the dollar will hit 52 in the months ahead which will support a gold price of, at least, $1,650. Today’s gold price is $923.50.
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