Forum Replies Created
- AuthorPosts
- in reply to: Miscellaneous #2627
Rick and emf:
What level did the Whopper
come from?
Johnin reply to: Miscellaneous #2626Rick~ I’m certainly no expert but the strategy seems sound to me.
in reply to: Miscellaneous #2624Dear John~ No problema. The information is available in the Annual Report
in reply to: Miscellaneous #2625John and EMF, what’s your perspective on this as a stategic plan for above 800 ft targets, given that the gold-in-place is above the flood level?
in reply to: Miscellaneous #2622Thanks,Yuma your contribution was very informative. The pumps have been pulled to the 1500 level per plan and the lower areas are flooding. Shocking news! There is some cave in occurring do rotting timber. Another shocking development. There is no working going on in those areas and no danger to any miners/per Rae.
in reply to: Miscellaneous #2621The mine is flooding and caving in.
in reply to: Miscellaneous #2623Dear Electro Motive Force:
Thanks for the update. I am sure your source of information is better than mine. JYin reply to: Gold Enters Major Bull Market #2620Dear Bluejay,
I like the price, but is anyone mining gold at the 16:1?
in reply to: Gold Enters Major Bull Market #2619Currently, there is an anomaly between some of the major gold producing stocks and the price of gold. Gold is off 10.30 at 633.20 while some of the major gold stocks are showing healthy gains.
The four stocks that are exhibiting unusual strength today are:
Agnico Eagle Mines – AEM-NYSE
Meridian Gold – MDG-NYSE
Newmont Mining – NEM-NYSE
Randgold Resources – GOLD-OTCWhat does the firmness in these stocks mean as opposed to gold being off over 10 dollars?
Usually, this type of contrary buying in the gold stocks means a bottom has either been made or is near. In overnight trading gold hit about 618.50 which is in the general vicinity of major support at the 620 level.
Gold continues to be confined within a declining trend channel area of between 645 and 595. If the 620 level holds the metal will break to the upside within 10 trading days and shoot for 682.
in reply to: Gold Enters Major Bull Market #2618“You have to choose between tusting to the natural stability(enduring value) of gold.. and the honesty and intelligence of the members of the government. And with due respect to these gentlemen, I advise you to vote for gold.”
George Bernard Shaw
in reply to: Clips from Alleghany #2617The corporate office was buzzing yesterday as 1,258 pieces of mail were prepared and delivered to the Post Office before the mail went out at 1:30PM. The annual reports and proxies are on their way on time!
If you own shares in street name (in a brokerage account) please be patient with us if you do not get a mailing. Our only access to the street name data is through ADP Proxy Services. We request a list from them, they send a request to all the brokerage houses then they prepare a list from the replies. For some reason not all brokerage houses report to ADP. Essentially we have no way to accurately track the street name shares.
Still no underground crew. Tomorrow all the fire extiguishers will have their annual hydrostat test.
A group from the University of Colorado will be here tomorrow looking for a spot to put a seismometer as part of an earth science project.
The museum was not selected as a recipient of Cutlural Historical Endowment funding. (A grant application was submitted in January) It is a bit of a catch 22 when they want you to show need but at the same time they want to see that you are financially sustainable. UGMM did not score well on sustainability. The other factor that hurt our application is the ratio of our annual budget to the amount of money we asked for. We were asking for ten times our annual budget.
Weather has been cool (not freezing) in Alleghany. The grass is green it looks like spring.
in reply to: Gold Enters Major Bull Market #2616Two comments from Jim Sinclair today:
1- “The volatility coming in gold is going to make history.”
2– “My estimate of $1,650 being the high in gold is probably wrong. It will be higher.”
in reply to: Gold Enters Major Bull Market #2615Just introduced myself to Dr. Peter Morici, author of an article in yesterday’s Sacramento Bee. He deserves compliments for bringing some fresh views into the gold market, views worth pondering. We will get his article under NEWS soon for you to evaluate.
Whether his words express facts or assumptions is less important in the overall theme: the Gold Standard. As a gold producer, I am usually an opponent of the gold standard. As one concerned with the future of America’s well being, I think it may have merit, at least talking about and refining with today’s economic realities. Dr. Morici writes: 1. Jewelry and industrial applications absorb 85% of new supply. 2. The big new players are exchange-traded funds. 3. Presidents Carter and Reagan put the American economy on the path of deregulation…..and made the dollar a better and more stable store of value than gold. 4. A dollar overvalued…has created huge U.S. trade deficits. China purchases more than $200 billion in foreign securities a year. 5. With so much of what the world consumes now coming from China and other Asian economies, the dollar will be worth a lot less to gold miners in South Africa or Russia.
Dr. Morici had never heard of America’s longest lasting and oldest U.S. gold company, which does not surprise me. He should, though, because following our history, our struggles and out potential is relevant. Original Sixteen to One Mine, Inc. has never lost its vision or ability to mine gold. At today’s prices or more, our success will be measured in share appreciation, gold dividends and the intangible so important to some, good will. When I first took accounting at UCSB in 1960, good will was an asset on the balance sheets to reckon with. I do not see it anymore. Why, when and how did it disappear?
Thank you for the tour!
My son Travis and his girlfriend Tiffanie were allowed to join the Boy Scout Geology Merit Badge Tour on Saturday May 20th, led by Rae Bell (museum curator) and Ray Wittkopp (mine geologist). This is one of the finest tours the museum offers and the kids were very lucky to be able to join the group.
All evening and into the night I listened to Travis telling me all the awesome stuff he saw and learned about the Sixteen. He was very enthused about the geology and history of the mine. I am sure it is a tour they won’t soon forget. A great big THANK YOU to RAE and RAY for a great day in Alleghany!in reply to: Gold Enters Major Bull Market #2612Thought I would take a few minutes to comment on an AP Business article published Monday May 15, 2006 from New York and in the Sacramento Bee, sent to me by a shareholder. Madlen Read, writer, puts forth the following.
1. “Gold’s latest rise is the result of fear.”
2. “It’s a dangerous market because the fundamentals mean nothing.”
3. “Demand for gold has grown faster than supply.”
4. “Physical gold is an option. It’s not, however, the most practical vehicle for most people. There are costs to store and insure gold bullion, so it’s really only a good idea for those with a lot of money to invest.”
5.
Madlen, please do some critical thinking instead of repeating decade old opinions grounded in ignorance. You as well as most business journalists are well behind the curve of understanding how gold behaves and why. Most people, including myself, are very cautious when commenting about the under belly of the gold market. Its mystic has continued for 6000 years. Some opinions are just not true.Fear is not driving the rapid increase in price. Fundamentals are as important to understand, as are technical facts. Econ. 1A or 101 teach the basics of the relationship of supply and demand on prices, nothing newsworthy here. It costs nothing to store gold. It does not need to be insured because you can bury $25,000 worth or more in you indoor plants. It will be safe from fire or other accidental occurrences. If you do not brag about your stash, no one will steal it, which is one reason some people, companies or groups own gold. It is the most private and liquid asset in the world.
in reply to: Gold Enters Major Bull Market #2613Reading ignoramus statements from the press concerning gold’s health is really disheartening for the reason that some readers are ignorant and don’t know the difference but desire to be correctly informed and thus get educated.
The following, “It’s a dangerous market because the fundamentals mean nothing” is plainly not a sensible statement from a writer at AP Business to make when their readers expect more.
The sad truth is that the writer doesn’t possess enough of a perspective concerning gold’s fundamentals to be writing about it. If the writer did, then the writer would have never made such an irresponsible comment.
All of the real fundamentals and how they apply to gold are objectively reported daily for no charge at http://www.jsmineset.com by Mr. James Sinclair with guest articles from two professional market men, Mr. Dan Norcini and Mr. Monty Guild.
You should really go to the site tonight as there is an enlightening story concerning the Bank of England(the guys who sold most of their country’s gold under $300 an ounce) and why they are orchestrating gold sales currently to help save the London Metals Exchange.
in reply to: Technology #2611We are firm believers in the application of modern technology in the Sixteen to One mine. The wind is blowing in our direction. Security is driving the wind. Confidentiality with certificates of agreement and understanding limits just how much of the advances are reaching the public and us. Some of the small companies with leading edge developments want to keep their process close to their chests ($$$$ is a factor). Some of the large companies want to buy the small companies. One such instance has an asking price of $200,000,000. That is a lot of security machine sales. For us it would be less than a 200,000-ounce pocket! If we can attract some of these industrious, brainy scientists to venture into the mine’s Beta site, it could be profitable for everyone. I do know that tiny differences, as long as they can be measured and identified with the sources of the differences will be a great prospect in finding gold hidden by quartz. Until such time as someone pops for the money and he or she knows the potential of our mine, we remain open to all serious detection. The wind of discovery is blowing but is not yet felt.
Yes, we mined four of the five anomalies. The first was a pinching of the vein, a geologic structure and no gold. The second was a horse, a geologic term for an irregularity cutting out a portion of the vein. One was a vug, a geologic term for an open or vacant space. We did not mine the weakest remaining one after we located an old abandoned slusher.
in reply to: Technology #2610Mike,
You mention that the RIM Technology worked locating the several anomalies, Did you mine to those anomalies, and if so what did you find when you got there? ie How much gold? You say that the technology works but that the processing the data takes time, that seems to me just a matter of manpower thrown at the problem. Finally, what is the cost of this equipment and the cost to operate it?
in reply to: Clips from Alleghany #2607Tell me more about the “Studebaker” comment on May 3rd. True, or a joke? I have 2 of them and can help locate parts…that will give Mike more time for the mine and fighting the bad guys!
in reply to: Clips from Alleghany #2609Two “clips” in one day. Scoop couldn’t resist sharing with permission:
Rae got a phone call from an excited Sandor Holly recently saying that there are new breakthroughs in imaging technology that with modifications he has figured out could be used to detect gold. He could say no more because of the confidentiality of the technology.
Who is Sandor Holly? For those who don’t know go to “Company” and look under “Previous Directors” and you’ll see why this is exciting!
in reply to: Clips from Alleghany #2608Yes, Mike does have a few studebakers but no he isn’t working on them. The snow is hard on vehicles parked outside all winter. What Mike needs is an airplane hanger that can withstand snow load to park his cars in.
No more snow in Alleghany. Flowers and trees are blooming. Looks like it will be a good year for apples as long as we don’t have anymore severe weather. Rae has been getting lots of asparagus from her garden the last week or so.
The 1st quarter 10-Q was filed this morning. To get a copy click on “The Company” on our site where you will find a link to the SEC filings.
Things are quiet at the minesite with just two men doing clean-up. The Ford Flatbed has been registered and will be used to take scrap metal for recycling.
Tomorrow the summer tour guides for the museum will be meeting with Rae and Ian for a safety training and to set up a schedule, etc. All of the tour guides with the exception of Rae Bell are experienced miners. (Ray Wittkopp also does tours and while he’s not a miner he does have a lot of underground experience as a geologist). The museum is lucky to have such resources.
PM London Gold – 725.00!
in reply to: Gold Enters Major Bull Market #2606This is the final word for the time being:
The following are statements made by Mr. Jim Sinclair today on his website at http://www.jsmineset.com:
“Forget the why. The gold price is doing what it is not because of fundamentals, technicals or geopolitics. The price of gold is acting the way it is because the market wants 1650 and will do it when it wants, not when some advisors tell it to.
Reactions when they come will be more spectacular than the rise.”
Mr. Sinclair’s advice is to buy into reactions.
in reply to: Gold Enters Major Bull Market #2605A news report by MarketWatch could explain the reason for gold’s strength recently.
“Moves by Venezuela and Bolivia to nationalize their countries’ natural resources could soon spill into the mining sector, likely boasting prices for metals that are already at multi-year or record highs, while pressuring companies with interests in Latin America.”
Value View Gold Report says “A great leftwing, socialist rising is occurring in Latin America, which will push higher all mineral prices.”
Ned Schmidt goes on to say, Venezuela and Bolivia are only the beginning.”
Indeed, early this month, Bolivian President Evo Morales said the move to nationalize the country’s hydrocarbons sector was just the beginning. “Tomorrow it will be the mines, the forest resources and the land”, he said.
“The greater concern is potential spillover to Peru” which is a major producer of gold and copper, said John Hill of Citigroup. Peru produced 207.8 metric tons of gold in 2005 or 8.2% of the world output.
The full story entitled “Gold markets eye Latin American moves” is available currently at Kitco.com
in reply to: Gold Enters Major Bull Market #2602The deepest gold mine in the world is the Tau Tona owned by AngloGold Ashanti in South Africa. The mine workings extend 2.3 miles below surface.
in reply to: Gold Enters Major Bull Market #2604In January of 2004 the U.S. dollar was about where it closed at today, .84 on the Index. In January of 2004 gold was at $400 an ounce. Today’s close in gold is over 75% higher than it was in 2004.
in reply to: Gold Enters Major Bull Market #2603The last on gold is $708.10.
The price of gold is indicating that there is a serious problem that may be getting ready to surface.
The problem with the U.S. dollar is old news. Is the Iranian situation on the verge of exploding? Will there be company failures for those who have heavily shorted gold bullion. Has the FED been involved in selling gold and has it turned against them? Do we really have all the gold in Fort Knox and in federal reserve banks that they say we do? Something is wrong.
Gold is doing in days what it should have been doing in months, maybe weeks.
Gold has unexpectedly vaulted past big resistance at 682. Unfortunately, you can throw the charts out the window for the time being. Gold is a real animal now, growing stronger as it moves higher.
in reply to: Gold Enters Major Bull Market #2601Another surprise, this time from Berkshire Hathaway.
Warren Buffett said at the Berkshire Hathaway annual meeting that he didn’t make any money on his silver investment because he “bought it very early” and said “he sold it very early. Other than that, everything I did was perfect.”
In 1998 Warren Buffett bought for Berkshire 129 million ounces of silver. The price paid was over $500 million and probably cost him about $3.90 an ounce.
Silver closed Friday at $13.90.
That’s $10 an ounce profit not realized. $10 times 129 million ounces of potential silver profit would have been $1,290,000,000.00. Now, that’s a real big mistake.in reply to: Gold Enters Major Bull Market #2600Barrick Gold made a surprise announcement with their first quarter earnings report filed yesterday.
Barrick stated that their corporate gold sales contract positions(forward gold sales) have been reduced by a shocking 4.7 million ounces. As of 5-03-06 a total of 5.7 million ounces of forward gold sold have been squared away.
Barrick intends to reduce their hedged forward gold position by another 2.0 million ounces by year’s end. Barrick further stated that by the end of 2009 they will have eliminated their entire gold hedge program.
Barrick in the past has been accused of contributing to gold’s long bear market with their excessive forward gold sales. Gold ultimately bottomed out at just above $250 an ounce some years back.
An appropriate question is, why did these gold companies cover their gold hedge programs so late. I guess they don’t read our Forum pages.
Some years ago Mr. James Sinclair of http://www.jsmineset.com took out full page adds for all gold companies to read in mining trade paper’s and in Barron’s that gold was heading up and that gold hedge programs should be terminated.
Do you remember the story that, “you can lead a horse to water but you can’t make him drink”?
One only has to wonder why it took these guys so long to cover?
Included in Barricks buy back were the gold short positions incurred by Placer Dome which they recently acquired.
Placer’s loss for their share of the past forward gold sales in the quarter was $1.2 billion and in the time following the first quarter was $814 million. That’s a staggering $2 billion plus in losses for the Placer position alone.
Does anyone remember that some of the seed money to get American Barrick originally started came from Saudi Arabia?
Does anyone remember that George Bush senior was a board director at Barrick?
American Barrick was put in place to control the price of gold. It is obvious by their throwing in the towel that there is no stopping gold now.
in reply to: Clips from Alleghany #2599OK Rick Bob…. Scoop has been busy and time does fly.
Only small mounds of snow remain on the North sides of the buildings in Alleghany. The weather has been PERFECT!!!!
A group of seven retired geologists toured the mine with Ray Wittkopp and Rae Bell yesterday. Rae Bell especially enjoyed watching the way they all rubbed their hands along the hanging wall getting a “feel” for the movement that occured long ago creating the smooth surface and the void that was later filled with quartz.
Only two surface workers have been working at the Sixteen to One for the last few weeks and probably for the next three weeks as well. The underground crew is “kicking butt” at the Empire Project trying to help get that wrapped up.
A little gold remains in the face on the 950 level. “Money in the bank”. David is still cutting (although the inventory of cut-rock is getting low) and the slab is sold as fast as he can cut it. Mike made the trip to Orocal yesterday to sell the most recent batch.
The surface crew has been doing clean-up, repairs and road work here in Alleghany.
The completion date for the Empire Mine project has been moved to June 22nd, although we should have our crew back before that.The “bad guys” attorneys have appealed to the 3rd Circuit Court of appeals in Sacramento and it could take as long as a year or more before a court date is set. Paperwork continues back and forth…
Rae has started on the first quarter financials. The SEC filing deadline is May 15th. No preliminary numbers yet, she is waiting for production numbers from David and until inventory is reconciled and the valuation adjustment for gold price is done it is too early to guesstimate figures.
The PM London fix (used to value our inventory) on March 31st was $582. Today it is $673.50!
Kyle has been keeping busy with the phones, bookkeeping, payroll and supply ordering among other things.
We are gearing up for the annual meeting mail-out to shareholders.
A board of directors meeting was held last Friday. Rae missed most of it due to a Fire Dept. call for a medical emergency but she found out Mike can take minutes!
in reply to: Clips from Alleghany #2598Wow! The foot of snow from Easter up on the ridge seems eons ago, that’s how much 80 degree weather in the valley melts away the memories of the incredible weather of our spring this year.
Scoop-Bob, what’s up? Does Ian still have that twinkle in his eye that suggests tomorrow morning will bring treasures to David’s saws? Is Mike finally revamping a Studibaker (ha-ha-ha! no time for that) and sandwiching himself between the Original Sixteen to One Mine and the project at the Empire? How’s the cat? What’s the next date for adjudication against the non-authorized criminal group of fake district attorneys? (Has the CDAA gotten notice of the decision from the 9th Circuit? Ha-ha-ha, another joke! I’ll bet Lloydes of London has….)
Last we heard about the guys underground, they were concentrating on shooting (chuting?) around the quartz.
Hearts and flowers, once again!
in reply to: Miscellaneous #2597Heh,
Stdbkr is there such a thing as a silver nugget like we find gold ones? Placer or hardrock?
audiger
in reply to: Miscellaneous #2595Not sure how many of you know about the hard rock mines in Idaho. Long proud history and lotsa potential as prices rise.
http://www.silverminers.com/publications/showpub.aspx?id=3001in reply to: Miscellaneous #2594What is in a corporate name?
Hopefully, it identifies the company’s business. The public can’t help notice that the price of gold has been making multi-year highs. So, if they aren’t that well informed and just want to get interested in a gold company, maybe to buy, they may Google gold company. Our stock will never come up because gold is not in our corporate name.
In the past years gold has been strong and today it hit $662. Where is our share price going? Even gold related companies with the word gold in their name that hold gold properties, not in production, would advance with a higher bullion price. It only makes sense.
Mr. Sinclair at http://www.jsmineset.com mentioned years ago a bakery stock by the name of Gold’s Bakery went up each gold was strong. Go figure.
The name Alleghany describes the area that we hold properties in. The name gold identifies what mineral we are looking for and explorations identifies what we are mainly engaged in as a business.
Years ago the Securities and Exhange Commission required the company to restate it primary business from gold mining to gold exploration. This was for a good reason, we had no blocked out reserves. We will always be an exploration company as that is the nature of the way mother nature deposited her gold. The Alleghany gold deposits are infrequent high grade concentrations distributed in a manner that can’t be economically identified with core drilling.
It would seem plausible that a name change would be a great benefit to shareholders who have been wandering along with me, when does our stock go up just to match the percentage increase that gold has experienced over the past years?
Alleghany Gold Explorations is one minor step in the right direction for all shareholders.
in reply to: Miscellaneous #2596Or…Original Sixteen to One Mine, Gold Exploration Inc.
in reply to: Miscellaneous #2593Rick
The Idaho-Maryland Mine is a subsidiary company of Emgold Mining Corp. of Vancouver.
Check out their website at http://www.emgold.com for some detailed information concerning the Idaho-Maryland.
Emgold believes that the Idaho-Maryland will surpass the Empire Mine’s historical production of 6,000,000 ounces of gold. Idaho-Maryland’s past production is 2,383,000 ounces.
in reply to: Miscellaneous #2591Hi Will,
The English Dam was on the Middle Fork of Yuba River, ot Oregon Creek. Thanks for your thoughts and writing. You and I are headed for the Misc topic I bet. Scoop asked Mike to be alert for a phone call from you. Perhaps he can help your project. History is important to all of us.in reply to: Miscellaneous #2592The first Brush with reality went south for investors, and those who invested are holding the bag. This theme has been around for over 150 years, the vehicle of proposing riches when the investors believe in snake oil.
Two nights ago at Sudwerk Brewery in Davis, I stumbled upon a banquet hosted by Ross Guenther of the “Idaho-Maryland Mining Corp” and listened into the hype of how the re-opening of the Idaho-Maryland Mine would bring riches to Nevada County and all interested investers; the ultimate power-point shot wasn’t about gold, nor about his hyped by-product ceramic tile derivative which had nothing to do with gold production, but an expensively drawn rendition by a prominent architech of the “modern new community” who will support “this new industry”, all these fancy housing buildings dominating the juction of the flat. Prior to the presentation, many geologically-related industry representatives (I’ll spare their names) were walking around with name tags boasting of their offerings, etc.
Proposal: by next May, full production. Over 200 miners and their families living in the new facility, happy, happy, happy…
Exceptional review of water issues (?)….on and on and on.
No mention of gold recovery after the initial pitch. How does a company propose to re-open a rich, historic gold mine in Nevada County with ceramic tile from byproduct as the principle commodity, no mention of gold production except to suggest “it’ll be great” expect to succeed?
Simple. Google what happened with Brush Creek. The link for Ross Geunther and the Idaho-Maryland Mining Corp. is:
And he also lists a phone number which is:
530-271-0679
For the life of me, why would someone deliver a pitch to re-open a gold mine with ceramic tile as the mined element when the real deal is gold.
The real deal, the Original Sixteen to One Mine, is right up the hill, producing the world’s most prominent gold-in-quartz, with a hand-full of miners and less than a hand-full of investors.
I urge all of the participants at Ross Guenther’s presentation of Idaho-Maryland.com to Google OAu, Original Sixteen to One Mine, gold-quartz, and any other related entity.
in reply to: Miscellaneous #2590This is a wonderful little spot on the web, a great forum full of interesting sounding characters and rich stories/history of current California Gold Miners.
I’ve been looking to include elements of our area’s history, especially concerning gold mining and the early immigrants that worked the area. There is a spot just above Oregon Creek Campground called Emory Island; the story goes that when the English Dam broke in 1883, a whole flourishing Chinese community was wiped off the face of the earth in seconds. Well I grew up on the north ridge just above that spot. I’ve come back from working in Los Angeles to make my own independent film about a current issue regarding dams in our area; the construction of a major dam at Freeman’s Crossing (half mine below Oregon Creek Campground).
The film is set in current day California and is called “The Ridge Boys” and is about a group of young locals who fight to save their river valley from being destroyed by the construction of a major dam.
SCOOP, I’ve read several of your posts and feel like maybe you’re someone I should get in contact with. You seem to have a wealth of experience and knowledge of the area and your posts of very enjoyable to read. Perhaps you could toss me an e-mail or I could give you a call.
Though it’s not entirely finished, our website is http://www.theridgeboysmovie.com and you can contact me at production@theridgeboysmovie.com
I look forward to hearing from you soon,
Will Keir
in reply to: Gold Enters Major Bull Market #2589Last on gold is $640. I know we’re in a bull market and I know it is healthy to react but this current move is very very impressive.
in reply to: Gold Enters Major Bull Market #2588How about that gold price? The london fix is $624.75 today!
- AuthorPosts
