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- in reply to: Stock exchange listing #5825
Hi Mike
And all the other miners and investors out their. Would be buying more Sixteen stock but have just started working again and see other miners that are undervalued also..
Scoop did mention you found some gold in 2013!!! My question would be how much?
I know that you and the rest of the crew are going to hit one of the many plums that are left….
Just a matter of time and when my finances are back in order will be bringing that market cap back up.
May the next blast turn Golden!!in reply to: Stock exchange listing #5824Here is my response to the reports of share trades for pennies.
They are naked trades or sales between confidants. I find minimal reasons for anyone making naked sales. I find many reasons for someone “trading” shares at low prices: devalue the Company in order to gain an advantage; jealousy; force us into a compromising position and then come to the rescue.
Likely these people are familiar with the mine, maybe they follow the FORUM. I certainly don’t fault their game. Original Sixteen to One Mine, Inc. is the most undervalued gold producing company in the United States if these pink sheet prices are used to compute market value. I just reviewed the 11/07/13 trades. The pitiful game began at 12:40pm…18 cents. In less than two hours shares dropped to 11 cents (the ‘market value” of my company dropped $1,914,000). Wow! It only took four trades. Do any shareholders or readers with any knowledge of our mine and miners trust the truthfulness of these transactions? I’ll answer that. No.
My guess: if the buyers and sellers are actually working together, they are not existing shareholders. I echo the remark by cw3343 to the buyers: order your share certificate. I personally sign each certificate and they are all numbered. Remember that a seller must turn in his certificate before shares are listed for sale on the FORUM. Your thoughts are encouraged.
The French have a proverb “skeptics are never deceived”. A Latin proverb is “believe nothing and be on your guard against everything”. Nietzsche wrote “great intellects are skeptical”. I have a proverb. “Truth like gold rests at the bottom.” Oh, the total purchase/selling price to knock almost two million dollars off our market cap was $3,427.40. Wow!
in reply to: Stock exchange listing #5823someone bottom-fishing again today on the pink sheets.
whomever it is, order a certificate out if there is no cost.
in reply to: Gold Enters Major Bull Market #5822“They just voted to raise the debt limit, but they didn’t actually just raise the limit–they suspended it. So, in fact, the sky is the limit. They can pile on as much debt as they want to because right now, there IS no limit to the amount of debt we can have, which means we are going to get a lot more debt. Everybody thinks this is good news. . . . Why is that good news? Maybe that’s good news if you are a gold investor, but it’s bad news for everybody else.”
Peter Schiff
in reply to: Gold Enters Major Bull Market #5821Gold $1318.0 UP $18.80
Silver $21.49 UP $ 1.09It seems that a quiet Sunday is a good time to review the gold market.
The continuing strength in gold has surprised followers since it has been coming down for so long. The obvious question circulating through the minds of the interested is, did gold really bottom above $1150 in June and in late December in 2013?
Make no mistake about this, gold’s monthly trend remains bearish aside from this recent strength. What’s driving gold at the moment is the increasing riots and protests across western Europe and the kindling tinder box in the Ukraine. People in Europe are becoming active as the financial squeezing by governments is really being felt. Since reform seems out of the question from their representatives, matters appear destined to continue to be grave.
Martin Armstrong who continues to be monthly bearish on gold states that he world war cycle has begun and will only get worse. It seems he may even change his bearish position if gold continues to march higher which it may. Gone are the days of the major banks short term manipulating of commodity prices, this is felt to be very positive for gold. Whether the banks like it or not, government is watching them closer than before and they know it.
Another important factor effecting gold is the U.S. is having a difficult time coming up with Germany’s gold which has been requested. Germany is taking it back in little pieces. Could the U.S. government be buying gold in here as well? Was the questioning over the years that our government had sold some of the gold, that they were keeping safe for the Europeans, been correct?
Something is surely in the mix for gold these past weeks. One thing is for sure, the gold shares are turning up after many months in the dumpster. The main acid test came when Newmont Mining cut back their expectations and cut out their dividend. A 15 year low or so was approached at the 20 level when smart buyers couldn’t get enough shares at this historic support area. The gold shares were way overdone with gold stabilizing and smart money knew they were on the bargain counter.
Aside from figuring out where gold is headed, the big money has made a statement by making sizable purchases of many big gold companies and some of the junior golds in Canada. Personally, it has been witnessed that one very large buyer has been sinking millions and millions of dollars into gold related issues alone in Canada over the past 10 weeks.
So we wait with continuing patience to see, is this really the push in gold that reignites the aggressive bull market in the metal again?
in reply to: Miscellaneous #5820Today, 90,000 shares traded on the pink sheets, closing sty 11 cents.
in reply to: Clips from Alleghany #5819RAIN!!!
Record setting 50 days without rain in Sacramento is over.
in reply to: Clips from Alleghany #5818Scoop would like to wish everybody a Healthy and Prosperous New Year. A quote from Michael Miller: “Live each day like it is your first.”
Scary warm weather for January in Alleghany. The plum trees outside the office window are in full bloom. Rae Bell had to water some of her raised beds this weekend.
The annual 8 hour refresher for the miners was held on Wed. Jan 22nd. Click on “home” to see a picture. Miners from a couple of other mines in the area joined the training.
MSHA showed up the next day and issued 4 minor citations during their two-day visit. All citations have been abated.The 1st quarter 10-Q, as in 2013 1st quarter was filed last week. As voluntary filers we don’t have deadlines and we are a bit behind. We should have the other two 2013 10-Q’s filed this month or early next month.
The physical inventory was done earlier this month and is part of the process of getting the year-end (10-K) annual report done.
Also a reminder to our Shareholders: our annual meeting is scheduled for Sat. June 14th this year. This is NOT a public event. The Gold Show at the museum that same weekend however; IS a public event.
The museum now has an online gift shop. Click the “MUSEUM” link on the left to get to the site or go to http://www.undergroundgold.com Check out the books and publications next time you need a gift!
If you would like to be added to the museum mailing list send your mailing address to: info@undergroundgold.com Addresses are not shared with any other entities.
in reply to: CDAA Conduct #5817A while ago I wrote the following and placed it somewhere on the web site. If public pressure could change the ethics displayed the past thirty years in our judicial profession, it would have happened. Remember all the lawyer jokes? Heard no more yet the ethical failures still are occurring. California State Bar has an abundance of members yet universities and colleges continue to graduate more young idealists or predators and give them a license to practice. Improvement won’t come until the lawyers themselves clean up their industry. It is no different from banking or mining industries.
IT’S AGAINST THE LAW TO MISLEAD A GRAND JURY OR A JUDGE
The July 2005 issue of “California’s Lawyer” features a story written by Eric Berkowitz headlined, “Why I Stopped Litigating After 20 Years”. Upon receiving the magazine and after reading the letters to the editor, I went right for this story. It is about a lawyer who discontinued his practice of civil litigation and participation in the Judicial Branch of California’s government. The lawyer decided to retain his shingle but entered University of Southern California to study journalism.
He writes, “Instead of indulging in introspection, I worked harder. There were still times when what happened in the court (both good and bad) seemed random, and lawyers and parties routinely lied, but I learned to accept those frustrations as part of the Real World over which I was gaining mastery.” Here are statements from someone who does not know the Sixteen to One mine or me. He clearly writes that lawyers lie in the Superior Courts of California. I knew it to be true in Sierra County, and I suspected it was true in other counties as well. Think about his statement. Lawyers are routinely lying to the judge! Could Mister Berkowitz qualify in a civil trial as an expert witness to testify that the California District Attorney Association pack is courtroom liars? Could his opinion reach the jurors? Of course.
A lie is intended to shield the truth or mislead the Court. If its effect will mislead the Court, it is an unlawful act. It breaks a California law regarding those members of the California State Bar, who appear in the courtroom. “Lawyers and parties routinely lied” is an indictment of perjury. Mister Berkowitz continues, “Rather than hiding harmful information from a court or jury, I will focus on showing all sides of an issue”. Wow. Couple this admission of his past behavior as a lawyer as hiding exculpatory evidence (harmful information to his client) and his witnessing routinely lying lawyers in the courtroom. He or other lawyers may pass the “smell test” lawfully, ethically and professionally. In Miller v Filter as the case develops, testimony will be given that the behaviors of the defendants fit the indictment of Mister Berkowitz. They will not pass the “smell test”. Maybe lawyers should be unchallenged in lying to each other over the phones or anywhere, anywhere that is except the courtroom. Maybe their clients expect and demand that of them. But in Sierra County the client of the five defendants is the people. The people expect the truth. The harmful evidences with held both from the grand jury and the courtroom were exculpatory or a lie. The notion of harm was to themselves not their client (the people). The people suffered revenue and other social benefits because of the behavior of attorney Gale Filter, Kyle Hedum, Anthony Patchett and Denise Mejlszenkier.
This magazine is supposed to reach many of the 200,000 California’s lawyers. The Original Sixteen to One Mine web site probably is read by only a couple of dozen. More of California lawyers should evaluate the “smell test” in their profession and even take a position: suborn perjury or cleanse the courtroom. A by-product of great social benefit from our lawsuit will be ‘collateral good’. The more lawyers who see the illegal, unethical and unprofessional behavior of the five defendants, the more hastened the rebuilding of trust between the public and those who enter our courtrooms to argue civil or criminal disputes. When lawyers either see that California will disbar or suspend lawyers for failures within Rules of the Court and for violations of the Penal Code, they may rise to the occasion and change their ways about perjury in a courtroom or misleading the judge. If they are not presented with the opportunity, the public will never know. Help spread the challenge.
in reply to: CDAA Conduct #5816Jail is not a correctional or rehabilitation facility, it is just pure mental torture. Martin Armstrong reports that there are many innocently convicted people now serving time, he should know as the Supreme Court ruled a few years back that the federal government had no basis for keeping Mr. Armstrong incarcerated. Federal prosecutors and a judge exceeded their authority in putting Mr. Armstrong in jail. What the Supreme Court in a nutshell said to the government was, what do you think you are doing?
Mr. Armstrong reports from his time in the Federal pen that suicides routinely go unreported by the media for lifers. How many innocent people have committed suicide for being handed life sentence by over zealous prosecutors???
Hopefully, the day will come when there is a public review board handling complaints in the judiciary for prosecutors attempting to raise their conviction rate at the expense of innocent folks being put in jail and thus breaking up families and small companies.
Conviction rates by federal prosecutors in this country stands at 99%. If that isn’t a real monopoly of injustice, what is? Even Hitler’s prosecutors could only muster up a 97% conviction rate.
I personally know a past prosecutor and he is a crafty SOB who will take anything illegally if he can get away with it without a conscience.
in reply to: CDAA Conduct #5815Please forgive me as the previous information was gleened from “Mining Engineering” Magazine. Where a full evaluation of this event is documented.
in reply to: CDAA Conduct #5814It seems that your mine is not the only one in the state being persecuted by the State government goon squad. The Big Cut Mine South of Placerville has recieved a 11 million dollars of fines from the State of California for opperational non compliance to their dictates. The mine owners have been ignoring the fines, and the charges.
in reply to: Miscellaneous #5813January 13, 2014 by Martin Armstrong
In Bangkok, the rising tide in anti-government demonstrations has led to a warning that any disruption of air traffic controllers may now result in a 15 year prison term. We are seeing this same trend against free speech appearing around the world. In Spain it is a €600,000 fine to protest in Parliament. As socialism continues to implode governments we will see rising civil unrest and a contagion of municipal defaults not just in the USA, but nearly 50% of municipal governments in Germany are unsound. The degree of government debt that may simply implode is staggering. We are not looking at hyperinflation, but massive deflation for the state and local levels are incapable of increasing the money supply to bail themselves out.
————————————-Guess who will be bailing out California?
That’s right, you’ve got it.
It’s called, SQUEEZE THE PEOPLE.
in reply to: Miscellaneous #5812Separatist Movements are Also Alive in the USA – Goodbye California?
Posted by Martin Armstrong
Europe-Separatist MovementI have reported how there are separatist movements cropping up all over the place. We will see Scotland come to a vote this year in 2014 about separating from the United Kingdom. As taxes rise and finger-pointing increases, the rising trend is to separation. The building resentment in Southern Europe to break away from the Eurozone is gaining support in Greece, Italy, Spain, and Portugal. The only thing they got out of the deal besides higher debts was import-duty-free German cars and French wine. Most restaurants in Rome will not even serve French wines. Even in Switzerland the bias is toward Italian wines.
The separatist trend is also alive and well and we will see this movement gaining popularity with the Bible-Belt looking to separate from the USA leaving the Democrats to themselves. If the Democrats won in 2016, there might be civil war. This separatist movement exists even in Texas, but now it is rising higher in California. There, it is primarily North v South, but there is an argument to divide California into 6 states. This is all part of the decline and fall of socialism. Obamacare has been a total disaster. Even my personal insurance went up by 20% and others a lot more or cancelled. It would have been cheaper to just pay the medical bills for the 1.1 million people and leave the rest of us alone. But no possible way. The government has a policy. If it ain’t broken – break it. And if it is broken – try to screw it up so bad you can blame someone else. If it does work well, there must be something wrong.
Feinstein Dianne (2)
My only question to California – if you do break up into 6 states, who takes Diane Feinstein? I would donate if you made her a State Senator rather than Federal.
in reply to: Gold Enters Major Bull Market #5811The Majority of Analysis is Bearish in the Metals
December 30, 2013 by Martin Armstrong
The analysis is now turning excessively bearish in the metals. They still have to press lower and as one reader commented “puke their guts” ok. Only then will (we) see a reversal of fortune. It is just not time for the metals. They had their run, now they must regroup and get ready for the next run.
in reply to: Miscellaneous #5810Sutter Gold receives $40 million loan from RMB Australia on favorable terms
http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aSGM-2134674&symbol=SGM®ion=C
in reply to: Gold Enters Major Bull Market #5809Gold $1194.20 OFF $24.50
Silver $ 19.20 OFF $ 0.53I follow the 5000 day moving average line as an indicator of the long term health of the gold market. The trend continues to be up.
Hourly, daily, weekly and monthly trends will always have a mind of their own. Their excesses will aways be misinterpreted by the media on a regular basis. The die-hard gold analysts are in a world by themselves, always redefining daily events and playing the blame game to excess.This severe intermediate downdraft is really quite normal, of course very few are that smart to catch the turning point when it began, Martin Armstrong did and he continues to expect further weakness. He has stated that the exercise in the blame game is childish and complete non-sense.
There are many interacting pieces to the gold price puzzle and just concentrating on a few leaves many not to be considered and fails at giving a complete and responsible
analysis of the metal. It is suggested for those who have a real need to be educated that they search Martin Armstrong on the net and read and read and fill their heads with knowledge.Stop depending on the opinions of so called gold experts, get educated and do your own thinking. I stopped buying pm stocks two years ago, lightened up from the same for about 60%, continued to buy high quality graded gold and silver coins(no bullion
ones) and am awaiting for the intermediate trend to turn up where I will take an increased position in the shares. Patience and the correct timing in this beaten down share market of the gold and silver related issues will be the key in maximizing returns during this continuing major bull market in the precious metals.in reply to: Gold Enters Major Bull Market #5808The bulls and bears in markets will always battle. People send me articles or I get information about gold prices. I spend little time thinking about gold prices. Today’s news was worth some thoughts. Some thought of others are copied below.
December 19 – Gold $1195 down $41.10 – Silver $19.14 down 87 cents
“Was As Bizarre As Anything I Have Witnessed In Thirty-Eight Years In This Industry” … MLB
“Some traders were surprised that risk assets such as equities rallied on the reduction in quantitative easing while gold came under pressure again which is counter intuitive. Gold’s sell was again due to paper gold selling by traders speculators as there was little increase in selling by owners of bullion.“Arguably, the Fed’s small taper and statement is bullish for gold as the Fed confirmed that ultra loose monetary policies and the unprecedented zero percent interest policies are set to continue. Also, the Federal Reserve’s balance sheet continues to deteriorate as we pointed out yesterday.” … Mark O’Byrne, GoldCore
The farce goes on! Yesterday was beyond farce in the degree of the blatant aggressiveness of The Gold Cartel with their efforts to trash gold and silver, while the DOW goes to all-time highs on the same news, news which should have affected both markets in somewhat similar fashion. Course, it has not been this way for 14 months as articulated here and in my presentations at conferences over and over again. Anything to do with QE over this period of time has sent the DOW up nearly 3,000 points and gold down $600 an ounce. And STILL, the financial market press, and most of the gold pundits, remain silent on the issue, fiddling around to make any sort of sense of it all. Anything but to deal with the blatant truth.
Al Capone does it again and is smiling from ear to ear.
Following Fedspeak, The Gold Cartel crushed any sort of shortcovering rally and then began to lean on gold in the Access Market with one of their PLAN C operations. Support at $1220 was breached and the price ended the day around that price level. That was only Jacks for Openers, as they were only waiting to go into an aggressive PLAN A mob hit in London this morning at the exact same as usual…By the time this attack was over, gold had taken out key psychological support at $1200, falling to $1192 on its low of the day. This puts gold at a new correction low close over the past 28 months.
To corroborate just how corrupt this financial market terrorist attack really was, one only needs to see how the price of silver collapsed with gold. Of course, silver is tied at the hip to gold in the suppression scheme matter. Silver took out its support and fell all the way to $19.05 before stopping its plunge. This is with the DOW rocketing to all-time highs, the prices of copper steady, and crude oil going higher. Why should silver collapse in that scenario? Yep, the farce goes on and on and on.
You can count on one thing for sure. This was all set-up. All that matters is what the US Government (via the Fed and Exchange Stabilization Fund) had in mind for the gold and silver prices following whatever Fedspeak was really all about. The notion that the spec shorts were being set up by JP Morgan and others in The Gold Cartel was just plain wrong. Instead The Gold Cartel is using the specs shorts to carry out their mission. Same drill we have seen all year. They cap all rallies and pressure the market the same way ALL THE TIME, such as this hideous PLAN A selling. The spec shorts, which aren’t bluffed out by these brief sharp rallies, then pile on and down the price goes, with spec longs who are still around getting slaughtered.
Another way of putting what happened yesterday, with today as an encore…
White Knuckle Time:
Yesterday’s precious metals and stock action immediately before and after the announcement by the U.S. Fed of a $10b per month reduction in the bond-buying “stimulus” (read: “bank handouts”) was as bizarre as anything I have witnessed in thirty-eight years in this industry.
To say that the markets’ collective responses to the announcement appeared contrived is the understatement of the century. Literally seconds before the announcement, several thousand S&P futures contracts were bought at-the-market driving equities through the roof with a simultaneous assault in the gold pits. It was as if a pre-programmed algorithm executed orders designed to ensure that the market’s response to the “taper” was positive while capping precious metals at the same time.
The outcome was a near-three-hundred point rally in the Dow to a record close and a 2.7% drop in gold despite the fact that a $10 billion dollar reduction still left $75 billion to be injected every month into the banking system with money created out of thin air…
MLB
The AM Fix stunk up the place at $1205.25. The PM Fix was worse, as it plunged to $1196, which ought to be a new low for the move down.
The gold open interest rose 1167 contracts to 386,599. The silver open interest went up 1144 contracts to 134,450. An indicator—which has been 100% predictive since silver started its run down beginning in early October of last year at $35+ an ounce— has been a rising silver open interest. As documented here, this has also been the case at various key times over the past five years.
James Mc…
Open bomb bay door, release derivative payload
Bill,
The gold market has become little more than scheduled carpet bombings. The brazen nature of the assaults keep reaching new heights. The scheduled flash crashes around 3:00 AM, 8:00 AM, Comex open, 9:30 AM and 10:00 AM are nothing more than pure unadulterated cartel hits. Incredibly 1.327 million ounces of paper gold was sold in just 6 flash crash minutes. That’s a total of 46.66 tons at an average of 1 ton sold every 7 seconds. No legitimate trading could ever go down like this.
2:40 AM: 1,262 Feb. contracts sold -126,200 oz. / 3.94 tons
2:41 AM: 3,709 Feb. contracts sold – 370,900 oz./ 11.59 tons
8:21 AM: 1,654 Feb contracts sold – 165,400 oz./ 5.17 tons
8:47 AM: 2,295 Feb contracts sold – 229,500 oz./ 7.17 tons
10:00 AM: 2,530 Feb contracts sold – 253,000 oz./ 7.91 tons
10:06 AM: 3,482 Feb contracts sold – 348,200 oz./ 10.88 Tons
2:40- 2:41 AM was the biggy.No news, just 4,971 shorts hitting in the thinnest trade possible. Once more hats off to those “new breed” spec shorts, who keep knocking it out of the park. Those alleged commercials that got very long must be feeling like boneheads right now. We can assume that if JPM is indeed the commercial long (as some allege) then these devastating trading losses will be showing up in their Q-4 P&L. Seeing how JPM makes money virtually every single trading day of the year this will be a real switch! The RSI and stochastics would indicate that $1180 is still the goal, as I have suspected since early November. We came within $12 of that figure after today’s last flash crash at 10:06 AM. $1180 is now only a hop, skip, and flash crash away. The next 3 Fridays should provide ample thin trade to make it happen.
Ring out 2013, and hope the cartel physical ammo is as low as they are acting. Surely they’ve seen those spaghetti westerns where the bad guy dies only after his revolver starts making clicking noises instead of firing bullets. That’s the best visual I have right now for where we are.
James Mc
Inputs and comments
*Trader Rog…
to bill at 7:00 AM
hi bill,
you won’t be happy when you wake up. or if you
are awake, i know you’re not happy. big dump
overnight!
this is why i think we have one more hit. 5% down
from the june lows if we follow what the HUI did.
i’m getting back into my silver futures if we see
$18 spot silver.
best,
roger
*It’s a shame
Mornin’ Bill:
It’s sure a shame that an honest industry can be shut down by those tryin’ to keep a dis-honest industry limping along.
Mining is an honest industry because the end products can’t be faked.
Paper promises like currencies and derivatives can.
Only labor plus raw materials can produce and thus increase the world’s real wealth.
I’m truly understanding Germany’s history during the first half of the 1900s now.
Certain sociopaths really can lie and steal their way to success (for a while) and subjugate a portion of the world.
Recent lower prices for gold and silver confirm this, almost on a daily basis.
CNBC Santelli’s question “just what is Bernanke afraid of?” is the collapse of the sociopaths.
There’ll be little to nothing left.
Respectfully,
Edward Ulysses Cate
*Accelerated Au and Ag Manipulation portends Paradigm Shift
Dec 19, 2013With the ongoing and accelerated price suppression of gold and silver and another major hit today to new recent lows (or very close), I believe the Chinese [banksters] have taken over leadership of the manipulation. Surely they have the HF algo computer skills to do this. It all fits logically, does it not? They want the gold to back their new currency and they manipulate Ag down as a “tag along.” The lower the “price” the more they can accumulate with their stores of paper/digital fiat. Who knows, maybe even JPM, or a sub entity, is in cahoots with them?
When the US is dry, one of these days, and one would think very soon now, they orchestrate (or it happens on its own) a major revaluation— say they stop accepting paper dollars for payment of goods. After some chaos, we have a currency system reboot with new price levels and new global currency valuations with the dollar, and therefor ALL financial assets, at much lower valuations. Au and Ag are likely to be at much higher (multiple) valuations. Make sense?
Does it fit with Eastern CBs taking a different path than Western CBs? I think so.
What can the Fed do in this scenario? I don’t see any significant counter.
So if one thinks this is a plausible or likely scenario, how would one hedge or prepare for? (Hint: phyz#$al) And of course GATA be in it to win it!
Cheers,
Chris K
*Gold and commodity commentary
This article in the link below caught my eye and is from the FT today. It is written by Mark Haefele, Global Head of Investment at UBS Wealth Management, and Chris Wright, Cross-Asset Strategist.
Within the article is a fascinating sentence as follows: “Fourth, in the case of gold, investors will long remember 2013 as the year that their precious shiny metal ceased to be a safe haven. In April, gold plummeted 14 per cent in two days, including 9 per cent in a single day. And this was only the fifth largest one-day fall since the end of the gold standard. No asset with this kind of volatility should be considered safe.”
Looks like those who don’t like gold have achieved their aim for 2013.
Regards,
Bob
http://ftalphaville.ft.com/2013/12/19/1729412/investors-should-abandon-long-term-commodity-bets/
Behavioral Finance
*The yield of the 10 yr T note rose to 2.93% and is right below its multi-year high. This is one to watch closely, as are the dollar and crude oil. A mix of a 3%+ yield, oil over $100 per barrel, and a breakdown of the dollar below 79.80 could really roil the stock markets.
*The Gold Cartel’s price suppression scheme remains in play. We may only know the why of all of this as time goes by. One thing is certain. This is all about some agenda that involves most of the western central banks. They are VERY scared of something, or have crucified the gold price for some ulterior motive to be known in the future.
Crude oil rose 75 cents per barrel to $98.81.
The dollar was up .0018 to 80.64. The euro fell .0039 to 1.3556. The pound dropped .0020 to 1.6370. The yen went down .11 to 104.23.
CARTEL CAPITULATION WATCH
Naturally, the DOW closed higher again to another all-time high. It went up 11 to 16,179. The DOG, which was sharply lower yesterday before Fedspeak, fell 12 to 4054.in reply to: Miscellaneous #5807Sutter Gold
Last $0.14. Looks like the low at $0.06 was it. Next offering at $0.185.
in reply to: Miscellaneous #5806Thanks for this, Blue Jay. Most interesting! I will especially check out LODE that this guy pointed out.
Some of the mining stocks are so dirt cheap right now that you have to be nuts not to buy them. LODE looks like it’s trading around $1.70 right now.
The article also mentioned an ETF traded under the symbol GDX – I had been looking at that one earlier myself.
Another good one is the “Spider S&P Metals and Mining ETF” or XME. That one has exposure to different kinds of mining including but not limited to gold. The thing about an ETF is that you can get exposure to a lot of different companies at once so if one or two go belly up, you don’t get hurt as badly. Last spring I bought Sutter and I’m prbly gonna lose all my money. Fortunately, we are only talking a couple hundred bucks so it won’t kill me. Had I not bought Sutter, I probably would have just spent my money on something stupid, anyways.
Regards.
FMCin reply to: How to Approach Thin Veins & Cost #5804And here is a simlilar article focusing on track:
http://www.miningweekly.com/article/track-will-result-in-savings-on-rolling-stock-2004-04-02
Track will result in savings on rolling stock
By: elizabeth rebelo
2nd April 2004
TEXT SIZE
In South Africa, the total yearly tonnages hauled on underground rail systems exceed the tonnages hauled on surface rail systems by about 30%.
However, South Africa’s underground rail infrastructure is infamous for its water-related problems, lack of maintenance and poor haulage performance.
Tubular Track, a Pretoria-based company, has developed a ballastless railway system, which is used in both surface and underground applications, with rails that are continuously supported on reinforced-concrete beams.
To further consolidate Tubular Track’s position in the South African market, a black economic empowerment company, Afri Technologies, has been formed to install tubular track, with George Negota as chairperson and Alex Mzizi as MD.
Tubular track has been installed in mines in South Africa, Zambia and the US, says CEO Peter Kusel. The first tubular track was installed in President Brand mine, in Welkom, in 1989. The system uses standard rail and turnouts, which are consistently supported along their length by a concrete beam under each rail that is held in place by specially-designed steel-gauge bars.
The gauge bars consist of steel channels that are welded to steel gussets and straps. For underground applications the gauge bars can be dished to enable a continuous drain to be cast between two rails for the effective disposal of water, adds Kusel.
The system is designed to suit the prevailing geotechnical conditions that occur in underground mines.
One of the most significant benefits of installing this product in underground operations is that smaller volumes of material are required for the construction of the rail.
“Owing to the fact that the mining industry is predominantly a mining and tunnelling one, it is important to improve the efficiency of transportation,” says Kusel.
He tells Mining Weekly that, with tubular track, hoisting time is decreased by 70%.
An enhanced by-product of the locally-patented tubular track is the iMPi modular- section mine-track system, which has shifted away from in situ cast track to precast modular track and turnouts, says Kusel.
The iMPi system, which was developed about two-and-a-half years ago, has undergone intense analysis and testing at the University of Pretoria’s faculty of engineering’s railway division.
Extensive lifecycle testing also took place at the Spoornet track-testing centre. The iMPi system is being installed on an ongoing basis at various gold and platinum operations.
Africon Engineering International is the system designer, and the same consultant administers and audits the quality-assurance programme.
Africon’s contract manage-ment director, Terence Kelly, tells Mining Weekly that the company has installed an underground management system at Mponeng which is in line with the ISO 9001 standards.
Kusel describes the modular-track system as a technological improvement on tubular track, which can be installed in all mine railway applications.
Further, no slinging is required as the modular sections are loaded onto standard flatcars and transported to the site.
“This means that shaft time can be reduced by up to 85%,” says Kusel.
The product can also be in-stalled by mine personnel after training.
All installations are quality assured by Africon International Engineering.
As with most other new technology, the modular-track system is still facing some resistance in the mining industry, in which sustainable production and returns on investment are significant priorities.
Often, mining companies want to see the immediate benefits of new technology.
Kusel says that tubular track provides operations with long-term benefits, which include substantial savings on rolling stock, due to the design of the rail, which, in turn, reduces the total cost of the operation.
With regard to surface applications, extensive testing of tubular track for main-line conditions has taken place at the Spoornet track-testing centre over the last 18 months. “Because of the good results obtained, it is hoped that a number of orders will be obtained from Spoor- net and the SA Rail Com-muter Corporation,” Kusel reports.
A contract for manufac-turing precast modular 1:12 turnouts for installation and testing under coal traffic in Ermelo yard is under way, he continues.
“There is no doubt that tubular track is becoming, and will continue to be, a viable and popular alternative to conventional sleeper systems,” says Kusel.
Tubular Track was founded and developed by Kusel, the incumbent CEO of the company.
Kusel is a railway engineer who spent much of his career as a railway contractor on the coal line to Richards Bay.
in reply to: How to Approach Thin Veins & Cost #5803Group,
It’s been a while since anything has been posted on this. Here is a piece from an online mining magazine. Although the focus is in South Africa, it clearly points out that in at least some parts of the world, mining with tracks is still important. Here we go:
http://www.miningweekly.com/article/the-status-of-underground-rail-transport-2000-06-23
The Status of Underground Rail Transport
By: System Author
23rd June 2000
TEXT SIZE
Transportation systems have been found to be responsible for 26 % of fatalities and 49 % of all reportable injuries within gold-mines, Robertson and Hitchins underground GM Neil Maslen tells Mining Weekly.
In addition, Department of Minerals and Energy (DME) mine equipment safety acting principal inspector Fred Wilmans reports that the Leon Commission of Inquiry into safety and health in the mining industry in 1997 identified haulage and transport accidents as the second- largest cause of accidents in mines.
“Within our hard-rock mining industry, rail-bound transport can be identified as the weak link, with the current utilisation level of locomotives and hoppers estimated at 28 %, compared with the 92 % level for vertical transportation,” says Maslen. He is disappointed with the status of underground rail transportation within South Africa’s hard-rock mines, specifically because railway technology had its origin within the underground coal-mining environment in the UK with great success.
Underground Railway Association chairperson Murray Franz maintains that there has been a steady decline in standards in South African underground transport since the years of high gold prices.
He believes that a general lack of regular maintenance is responsible for the dilapidated systems.
Similarly, he maintains that trackwork conditions, track installation and maintenance, communication, training and control constitute the most significant problem areas within underground transport systems. Maslen believes that the problem has developed because current management structures do not consider the logistical process with the same focus as the other two core mining activities; rock-breaking and mineral extraction.
In an initiative to solve these problems, Wilmans reports that a tripartite task group was established under the auspices of the Mining Regulatory Advisory Committee (MRAC) to revise the existing Department of Minerals and Energy (DME) guidelines for underground railbound transport, as well as the existing railbound Minerals Act regulations.
Such standards are necessary to ensure that the 37 000 km of track underground, as well as all the related equipment, is managed, controlled, maintained and operated in a safe manner.
Maslen is certain that established process-system management, coupled with superior standards of trackwork, will enable successful underground rail-bound lateral transport.
Furthermore, Maslen stresses that it is imperative to consider the important role of risk-assessment within the logistical process when considering the current situation with respect to health and safety.
In terms of the newly-promulgated Mines Health and Safety Act, it is the responsibility of mine management to initiate risk assessments, involving State, employer and employees, which will identify all potential hazards. Wilmans reports that the tripartite task group has submitted the draft guideline to the MRAC for comment and approval.
“This document, once approved by the Mine Health and Safety Council, will be issued by the Chief Inspector of Mines to the mines in terms of section 9(3) of the Mine Health and Safety Act,” he says.
“Draft legislation has also been forwarded to MRAC for approval, which includes proposals on brake performance, ratio of unbraked mass to locomotive mass, speed indication and illumination,” he adds.
“Progressive change is required in the form of a dedicated transportation management structure, responsible for all horizontal movements of people, material and rock.
in reply to: Miscellaneous #5801The situations with both companies or operations have existed for months. Sutter Gold had a complicated funding arrangement where money flowed from South Africa to Australia to its operation in California. Key management left. Overstated production claims were recognized as bloated or false. Major shareholders are probably trying to figure out what to do next.
Grass Valley had a deadline for funding the continuation of the permitting process, which was not met. The proposed operation is dead.
in reply to: Miscellaneous #5800One thing I have noticed is that Sutter Gold has taken a big tumble in the last few trading days. Has anybody else noticed that?
Also of interest, I noticed yesterday that Emgold has now completely removed the Idaho-Maryland project from their website.
Regards,
FMCin reply to: Miscellaneous #5802Stillwater lost a guy yesterday – RIP.
Hope that all the 16-1 people stay safe…
in reply to: Miscellaneous #5799OSTOOriginal Sixteen to One Mine Inc.
(OTN)Delayed quote data
12/3/2013 10:02 AMLast:
0.15
Change:
+0.01
Open:
0.14
High:
0.15
Low:
0.14
Volume:
19,400
Percent Change:
+7.14%in reply to: CDAA Conduct #5798First Prosecutor Jailed for Deliberately Convicting Innocent Man
TRUTHER NOVEMBER 27, 2013The New American
For the first time ever, according to legal experts focused on the subject, a prosecutor who deliberately sent an innocent man to prison by withholding evidence is himself going to be jailed. The case surrounds Michael Morton, a Texas man convicted in 1987 of murdering his wife, and former prosecutor Ken Anderson (shown), the state official responsible for Morton spending 25 years in prison. Anderson withheld crucial evidence in the case as district attorney that could have clearedAn interested party sent me the above news release. It wasn’t very long ago that Gale Filter and his California funded California District Attorney Association (CDAA) launched a program to criminalize accidents. Original Sixteen to One, the mine manager and I were arrested and prosecuted for murder, manslaughter. The charges said our actions were willful. This is a serious charge and was completely without a factual basis. Their evidence was made up and they withheld exculpatory evidence to the court and to the defendants.
After careful considerations, we filed a lawsuit, naming Gale Filter and his fellow lawyers. Monetary damages played a part but a driving force was to expose their criminal behavior, stop the publically funded operation and closed this witch hunt down so no one else would be parties to a horrible life changing event.
Gale Filter was a Deputy Director for CDAA until the operation was suspended. Instead of losing his right to practice law in California, he was offer another publically funded job. While his lawsuit was eventually tossed out of court, his actions of breaking the law were never addressed. He should become another prosecutor spending some time behind the bars were he so aggressively worked to place innocent people.
Gale Filter broke the law; therefore he is a criminal who so far as avoided punishment.
in reply to: Gold Enters Major Bull Market #5797Fred
Thanks for the coal idea. Westmoreland seems to agree with you.
in reply to: Gold Enters Major Bull Market #5795My thoughts here on gold:
I have been reading in the Wall Street Journal as of late that this is a bad time to buy most stocks because with the recent raging bull market, many stocks are overpriced. So, what do you buy?
Simple answer: You buy what’s still cheap. And that would be? Why, mining companies, of course! They are the one thing that’s really down this year. It has been said about stocks that they are the one thing that when they go “on sale” people tend to shy away from them. Many people who would see an ad for shoes at half price or coffee on sale – any item really – tend to jump at the chance. But not with stocks. Why not? Warren Buffett does! He sees something on sale – he buys!
I have bought some mining stocks this year and the Original Sixteen to One is among them. I also bought Newmont, Hecla and Probe. I am not an investor of gold or silver metal because those items have no earnings – but mining companies do. (As long as they don’t go out of business – you’re good).
Another thing that might be a good investment, believe it or not, is coal mining companies like Peabody. I know, I know, sounds crazy, huh, but you never know. Coal companies are REALLY cheap right now and the rumors of King Coal’s death might be greatly exaggerated. Time will tell, however. I think it might be worth the risk.
My greatest fear with OSTO continues to be its legal problems with the State of California. I continue to hope and pray that there will be an outbreak of sanity at the State. Hope springs eternal.
Regards,
Fred M. Cainin reply to: Gold Enters Major Bull Market #5796Hi Fred
There is the possibility that gold could remain out favor for upwards of five years but I doubt it. A famous trader once said, “I don’t buy anything until the trend turns up.”
I believe he was referring to the intermediate trend. The gold shares currently are a train wreck. Some have been slaughtered and their future remains uncertain.Concerning the general market shares, according to Martin Armstrong, they will continue higher until the beginning of the 4th quarter in 2015. This man has the best batting average on Wall Street.
Concerning the Wall Street Journal, they are unreliable and most often have an agenda of their own. Once the DOW clears 16,200 the probabilities greatly increase that the averages will double. Of course you’ll never be able to sell that to the public after the smashing that took place in the 2007 to 2008 period.
Good luck with your purchases, no help needed with Probe. Your ideas concerning coal are interesting.
in reply to: Gold Enters Major Bull Market #5794Gold – Beating a Dead Horse
Posted on November 25, 2013 by Martin ArmstrongQUESTION:
Hello Mr. Armstrong,
I understand your thoughts on manipulating against a trend, but with gold being halted for the 4th time in 3 months by large sales orders placed during illiquid hours, does there come a time when you can say, “OK, something fishy is going on here.”?
Banks have been caught manipulating energy, aluminum and libor – So why would gold be so special as to not be manipulated?
“Once is happenstance, twice is coincidence, but three times is enemy action.” – Ian Flemming, Creator of James Bond
BGANSWER: Talking directly with real sources, it has been liquidation. If it were a manipulation, they would be covering the shorts. They have not done that. This has been simply liquidation that is going with the trend. There is no depth to the market anymore. Liquidity is down by 50% on everything. This is the same kind of liquidation that took place in the last year of the Nikkei. It is just capitulation. The orders are not even that large. There is simply a lack of buyers even during the liquid hours. People would flock to buy gold if there was a real solid bull market bid.
It is just a matter of time. Let the liquidation take place. It has to do this. Mines will close and shorts will then build going into the lows. It will be the shorts who make the low – NEVER longs. At the low, people can only see it going lower and at the high, it will explode to a new plateau any day now. In 1929, Irving Fisher became famous for saying the new high reflected the real economy and it was a new plateau that would hold. In Japan, they said the Nikkei was destined for 100,000. In gold in 1980 $1,000 was a blink-of-the-eye away as was $100 silver. With the introduction of the Euro, the press touted that the pound would collapse because it was not joining. A major German manufacturer sold a year’s worth of sales in Britain short on the news. I got called in to get them out of a $1 billion loss based on what they read in the press.
You simply MUST break the back of sentiment to reverse a trend be it up or down. Yes, you are beating a dead horse. The longer you make excuses, the longer you will suffer losses and fail to see how markets really trade. If all the commodities were in a bull market and ONLY gold was declining, that would imply something is wrong. But that is not the case here for the entire sector is declining as is Emerging Markets who were the big buyers in commodities. Nobody, not the Fed or any powerful group with all the bribes paid to the IMF to keep funding Russia, can prevent a reversal in trend.
The Club, or market manipulators, tried to get me involved directly. I looked them right in the eye. They invited me to the IMF dinner to try to impress me how they had government in their back pocket. It does not matter. All the bribes in Christendom cannot make a bull market out of a bear market. They have lowered rates to virtually zero in Japan for more than 20 years. It failed to stimulate the economy.
The Club are in this game for the quick fast buck – not for systemic manipulation. That is just absurd. Where is the immediate profit in that? They manipulate government systemically to prevent being criminally charged with countless manipulations. But that is starting to come back to bite them in the ass. They could not control every government and in Britain, they could not stop the investigation into LIBOR.
A very famous member of the Club lost money – his employee’s pension money he played with on the side in England. He somehow fell off his yacht and drowned preventing any investigation into the Club. I would not trust these people with the keys to my car to simply park it. They keep trying to manipulate but they blow themselves up every time. How many bailouts have there been? They are not even good at the game because they think they can bribe their way to profits and never consider the risks that independent analysis reveals.
Nevertheless, they are by no means interested in pressing gold lower systemically. Every manipulation they have pulled off going right back to the 1980 and using the Hunts to get the public involved, has been on the UPSIDE. Why? It is easier to manipulate the metals for whenever they rally, everyone WANTS to believe this time is real. They get a deep market and sell the top every time. They changed the rules in the metals in 1980 lowering margins to a fraction for themselves (shorts) and increasing them if you were long. That was CRIMINAL, but they own the CFTC. There is no quick buck in pressing metals lower except selling into a major high or spike rally. They want money NOW – not later! Most of the big players are out and those remaining will make the low when the finally capitulate.
Gold has followed the same pattern as every other market when it gets into an over-bought position. You ran up for 13 years. THERE MUST BE A CORRECTION after that. There is no exception. Why constantly make excuses? Just go with the flow and you will make more money than refusing to accept the simple fact that what goes up, also goes down. I do not care what the fundamentals are. Bullish news in a bear market is NEVER bullish enough. Bearish news in a bull market is ignored. The trend decides all interpretation.
Gold is in line with all other markets. The stocks are rallying because that is the focus of big money. They need DIVIDENDS to compensate for the low yield in bonds especially pension funds or they will go bust. Gold offers no such dividend. Only capital appreciation when it rises. They get both trends in stocks and with a rising dollar, the foreign investor get currency gains on top of it..
in reply to: Gold Enters Major Bull Market #5793Gold $1241.20 Down $10.40
Silver $19.86 Down $ 0.35Gold continues to be in a severe intermediate reaction following the 2011 highs. It’s is common to hear the beat of, gold is in a bear market. I have always focused on the long term trend which remains bullish above the 5000 day moving average which is just under $1000. All my metal positions are intact as I continue to sporadically add to that position.
Gold will go much higher than the 2011 highs of about $1930 as the long term bullish trend reasserts it presence, probably in 2014. In the meantime, the use of bear market can be related to the minute, hourly, short and intermediate trends BUT I’m in for the long haul and witness these periods of weakness as opportunities by methodically buying on a staggered time basis.
The following submitted article by Martin Armstrong tells it like it is, as it should be as a basis, not for fear of the metal going lower but as basis to grasp the reality of the current market in hopes of using it best to your advantage.
For the moment, gold is going through liquidations with the funds being transferred into the private sector, mostly financially fit industrial shares that pay a dividend. This trend will continue into 2015. Call me compromised but I’ll stick with gold’s long term major bull market and wait for tomorrow.
Martin Armstrongs’s article will have already preceded this commentary.
in reply to: Clips from Alleghany #5792Scoop has been on an unscheduled drought or asleep or just prepping for winter. Last night the winds hit high numbers knocking down trees and cutting electricity to Alleghany and Downieville. Just came on an hour ago. Time has flown by but Alleghanyans are scurrying about as do the squirrels.
For those who follow modern times in northern California, the harvest is in for another season. No additional signs of mining but for the Sixteen to One crew. Thousands of feet of pipe arrived and sitting at the mine gate. One reason Original Sixteen to One Mine, Inc. has exist3e4d for over 100 years is its ability to bank supplies for the winter months. Of course the roads were much slower then with horses, no pavement or snow removal. Expect great things from serious underground gold mines of California. Check the museum out if you have not had a look for awhile.
in reply to: Miscellaneous #5791re the martin armstrong post below.
It is not the 3rd city, he is forgetting about Vallejo, and Desert Hot Springs already was BK about ~10 yrs ago.
in reply to: Miscellaneous #5790“The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.”
— Thomas Jeffersonin reply to: Ideal Time for Facts #5788Regarding Fred’s thoughts on the article below: Angela Kean’s article seems marked by sophomoric assumptions or assertions of learning. I don’t believe that serious producing gold miners manage that way. Ones product price certainly is a factor, but this reporting is reoccurring financial adviser talk. Most gold producers are long term players. The short term “gold companies” are mostly stock promotion orientated.
The World Gold Council offers reliable data for mulling when it comes to forecasting the future of gold. I learned a lesson from one of our great directors. Years ago Lee Erdahl answered my question of how to reply when someone asks me about spot price of gold. “Mike”, he said, “A truthful reply is to say, one thing I know for sure is it will either go up or go down.” I have followed his sage advise.
The five statement below by the World Gold Council suggest stability. The demand from the technology sector support a spike up (demand). The contraction in recycling due to lower average prices (supply) supports up ticks as well. Of course we are happy with ever increasing prices; however we have managed to stay operating during the lowest lows and the highest highs since 1974. When the Sixteen to One mine slowed to a crawl between 1966 and 1974, the fixed price was the determining factor. The mine did not exhaust its gold production possibility.
From the World Gold
CounselQ3 Jewelry demand up 5% as lower prices encourage shift to higher caratage
Demand for higher carat jewelry was seen across most regions, blurring the line between jewelry and investment. This contributed to global jewelry demand of 487t up 5% year-on-year.
Demand for gold bars and coins grows 6% in Q3 2013; ETF redemptions slow
Q3 was another mixed quarter for gold investment. Bars and coin demand increased to 304t in Q3, up 6% year-on-year. ETF outflows slowed to 119t, as most tactical redemptions took place in Q2.
Robust technology demand, supported by lower prices, up 1% in Q3 2013
Demand for gold from the technology sector saw a modest gain in the third quarter, reaching 103t. This was driven by lower prices and improved economic conditions.
Central banks bought 93t of gold in Q3 2013, reserves up almost 300t year-to-date
Official reserves grew by 93t in Q3, the eleventh consecutive quarter of net purchases. This demand continued to be dominated by central banks from the emerging markets.
The supply of gold in Q3 totaled 1,145t, 3% lower than the same period in 2012
Modest 4% growth in mine production during the quarter was outweighing by an 11% contraction in recycling, as lower average prices failed to attract sellers.
in reply to: Miscellaneous #5789From Martin Armstrong:
A possible third California City, Desert Hot Springs, has announced that it may seek bankruptcy protection since it will run out of money come March. This would be the third city in that state along with San Bernardino and Stockton to seek court protection from creditors. This is how pensions will be renegotiated at the municipal level where they cannot just print money like the Feds.
in reply to: Stock exchange listing #5787Fred:
This is time and sales (was not me or anyone I know). Looks like you were the one at the end.179 11/05/13 02:33 0.1100 5,340
178 11/05/13 02:33 0.1300 17,000
177 11/05/13 12:57 0.1500 3,000
176 11/05/13 12:40 0.1800 1,000
in reply to: Stock exchange listing #5786Bought another 1,000 shares yesterday in my IRA with Vanguard at 18 cents. Right after I did it, someone dumped over 26,000 shares causing the share price to plummet to 11 cents. Go figure.
-Fred M.Cain
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