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For the week
Gold $1253 off $64.10
Silver $17.34 off $1.87The round number of 1300 on gold has been breached along with some support at the 1290 level. It looks like the metal is headed to the $1200 level. This is quite possible as the last remaining time in 2016 should be on balance, a bit negative.
When this section was named and started back in January of 2003 it was because a new major bull market in gold had begun, contrary to what you were reading in the papers, hearing on CNBC and on the nightly news. The bull market began exactly on January 23, 2003 when it crossed $352. This bull market remains in force. If for any reason it breaks $700 then, well, this major trend will have changed.
As most folks know, the trading up and down within this bull trend in gold and its related companies can be exciting and at times, scary. The current sell-off in both, overall, could last a matter of unknown weeks ahead. Looking at possible positives, it would be nice if the $1200 level on yellow metal generally held until January of next year when Martin Armstrong once mentioned that a new leg up in gold will begin. He also mentioned sometime back that he sees gold reaching $5,000 in three or four years.
Personally, I don’t want to attempt to pinpoint the bottom coming up because it’s a waste of time playing these games. I would rather concentrate on looking at gold related companies now, knowing they could go lower, and slowly start picking up the ones that have talented proven management with money in the till knowing this current lower move will end, hopefully followed by much higher price going forward.
I follow closely a few excellent gold sniffers up in Canada by the names of David Palmer
and Pierre Lassonde. I continue to hold all my OSTO shares and patiently wait for the next big find which, IMO, is just a matter of time. Thanks Mike for all your time and expertise in keeping the mine a going concern.in reply to: Miscellaneous #6152The German Bundesbank is currently shifting appr. 1000 tons of gold from US vaults to a newly built German vault.
While they are at it they might want to by your one ton of gold too. All gold from the US is being melted down and recast to make sure there are no tungsten cores or other little unplesant surprises.
Please send your offer to Deutsche Bundesbank, Frankfurt, Germany. They are a very serious and reliable buyer. And after the deal is completed please send my commision to Origsix. I donate it.
in reply to: INTERSTATE COMMERCE AND SMALL MINES #6153U.S. Court of Appeals for the Ninth Circuit accepted our request to appeal a country wide issue about mining in America. This issue must be challenged by the mining industry. The big companies are unlikely to assist those of us suffering from the bogus enforcement of the law written in 1977, that established regulations for mines.
It has been a long fight to get this before the Judicial Branch of our government. Members of the Executive Branch including top employees, set a standard of enforcement that is not the intent of Congress. I am confident that our recent administrative hearing will sustain any challenge made by government employees working against America’s miners.
You can help. This case is clear. MSHA agency with the co-operation of lawyers, judges and commissioners broke the law in citing our mining activities at Plumbago mine. This topic on the FORUM documents the issue and will enlighten others. Please do something to inform the public at large.
Cathy A. Catterson, Circuit and Court of Appeals Executive July 8, 2016
Office of the Circuit Executive
U.S. Courts for the Ninth Circuit
P.O. Box 193939
San Francisco, CA 94119-3939Molly Dwyer, Clerk of Court
Office of the Clerk
U.S. Court of Appeals for the Ninth Circuit
P.O. Box 193939
San Francisco, CA 94119-3939Dear Executives Catterson and Dwyer,
Original Sixteen to One Mine, Inc. (operator) and its miners (WE) have been adversely affected by an order of the Federal Mine Safety and Health Review Commission (FMSHRC) under the Federal Mine Safety and Health Act of 1977, Public Law 91-173 (ACT). WE ask for a review of such order in your court in our district, the Ninth Circuit. WE pray that the order be modified or set aside as allowed in Sec.106. (a)(1) of the ACT.
Citations were written outside of the law specified in SEC 4 under the heading, MINES SUBJECT TO ACT: Each coal or other mine, the products of which enter commerce, or the operations or products of which affect commerce, and each operator of such mine, and every miner in such mine shall be subject to the provisions of the ACT.
The Secretary of Labor is designated to carry out the intents by Congress of ACT, SEC. 2. Congress declares the importance of our “most precious resource—the miner.” The Mine Safety and Health Administration (MSHA) was established to carryout CFR 30 Mineral Resources and issue citations. During the public hearing for citations, MSHA placed no supportive testimony to refute its position that Plumbago meets the requirement for regulations under ACT. No case rulings to support the Administrative Law Judge (ALJ) or FMSHRC decisions are entered into the record.
While there are instances where SEC. 4. language was challenged by an operator and the challenge fails, there are no cases or situations that resemble Plumbago. WE entered over eighty pages of testimony supporting our position, including the recent decision by the United States Supreme Court regarding the Affordable Care Act and its affect on interstate commerce.
The argument that at one time, Plumbago was a mine and affected commerce, has merit. The argument that the operations at Plumbago meet the requirement of SEC. 4. during recent times has no standing. MSHA actions followed by the ALJ and FMSHRC, violates the intent of Congress as written in ACT.
This important law must be honestly enforced in its entirety, not through a selective interpretational process. This behavior must be severed, not the law but its abuse. Only the Judicial Branch remains to protect the American miner from extinction by over reaching power. The Legislative Branch held numerous public meeting in the 1970’s on the subject of mining health and safety in the industry. Congress passed a law for the Executive Branch to implement. Over a span of 39 years regulators have drifted away from its stated purposes. WE pray for relief and support from the Judicial Branch to return the course of health and safety to the most endangered species in America, the underground gold miner.
Sincerely yours,
Michael Meister Miller, Presidentin reply to: Miscellaneous #6151Below is a first time entry from someone most likely a scam. I leave it because these great buys have been offered to me for over thirty years. All are scams, so BEWARE. I can sell gold any time atr spot price… no penalties. I’m reasonable positive that all or most other gold producers can do the same. So, Global Refine Miners, why will you sell a Kg of 22karat gold for $25,000 when I can sell it for $39,432.89? Ain’t life grand!
in reply to: Miscellaneous #6150we have available in stock good quantity of gold ready for export and searching for overseas partners or buyers. Our gold is 22+ carats 95% to 98.5% purity , since we are the head of local village miners we want only serious and reliable buyers to contact us. We are ready to give commission to anyone who connects us with reliable buyers. The gold will be accompanied with the follow documents
Description.
AU Gold Dore Bars,Nuggets,Gold Dust.
98.4% Purity
22+ carats
25,000$ Per Kg
980kgs Available Now.
Mr Brian harold (CEO)
GLOBAL REFINE MINERS
Email : grantswell0@gmail.comin reply to: Gold Enters Major Bull Market #6149Gold $1308 Minus $2.50
Silver $18.67 Up $0.11Gold has entered a declining phase along with silver. Next support on gold is $1290 followed by $1200. The gold shares have as well been weak.
It appears the precious metals will remain challenged going into the weeks ahead,
in reply to: INTERSTATE COMMERCE AND SMALL MINES #6148The following was written in October 2012. It is the beginning of the topic “Interstate Commerce and Small Mines”. If you read this topic years ago or are new to the FORUM, I encourage you to read the entries from first to most recent. I made a few corrections below and added to the original as you will see at the end. Thanks for your interest.
INTERSTATE COMMERCE ACT is a law passed in 1887, due to a rising concern with the growing power and wealth of corporations, particularly railroads. Revenue, power or greed influenced Congress into action. Sitting here 125 years later and familiar with history, I agree with Congress.
An Act that established federal agency Mine Safety & Health Administration (MSHA) was passed in 1977. Sitting here 35 years later and living the mining industry, I agree with Congress; however much has changed over the past thirty-five years.
Section 4 of An Act defines commerce and its role in the mining industry. Today Section 4 is used to imply that the federal government has absolute control over all divisions of mining. I do not agree with MSHA. When federal documents are read thoughtfully, it is obvious that today the intent of the authorizing Congresses is ignored. Even a careful reading of case law (stretched beyond credibility at times to keep power to MSHA) Section 4 of An Act established qualifiers in order to give regulatory privileges to some mines and control over MSHA.
The defining phrase is “which affect commerce”. That which affects commerce must be considered in executing the right of control over those in the mining industry. Unfortunately for Middle America and all US citizens over the age of eighteen, our government has stepped outside the law. If I could make a citizen’s arrest, Original Sixteen to One would arrest MSHA.
New:
Ah, history. Someone famous wrote that ignoring history is a cause for repeating it. Commerce history, railroad history, mining history and American history shall not be ignored. My great, great, grandfather, Henry Miller, was an instrumental participant in financing the construction of Central Pacific Railroad. He and my great grandfather held the positions of Secretary and Treasurer of DO Mills Bank in Sacramento. My grandfather worked the books of a gold mine (Midas) in Northern California before buying the Red Bluff newspaper.Today I struggle with various predators, social misinformed or ruthless bandits to maintain the oldest gold mining company and the longest working gold mine in America. While this pursuit has modest financial effects for me, it has major positive effects for you. The story needs to reach the notice of Americans. You can help in two ways: inform others of this battle now in the Ninth Circuit Court of Appeal and chip in some dollars towards legal expenses.
Send your check to: Original Sixteen to One Mine, Inc. with “legal fund” on the memo line. Mail to P.O. Box 909, Alleghany, CA 95910
in reply to: Ideal Time for Facts #6147Consumer demand within two countries have acted as sponges for surplus gold in recent years – China and India – marked time during much of 2015. There was a noticeable upturn in interest later in the year. China increased the value of gold reserves to 1,762 mt by the end of December, worth $56.7 billion. The addition was 104 mt during the second half of the year. Indian imports totaled more than 900 mt of gold worth some $35 billion in 2015. 105 mt of imports in December alone.
For producer the main focus worldwide continues on cutting costs. Much of the industry benefitted from favorable exchange-rate movements, while the fall in the price of oil helped producers across the world as diesel costs came down
The Russian gold sector has been subject to some unwelcome influences over the past year or so, as the devaluation of the rubble against the dollar and the effects of economic sanctions imposed by the rest of the world over Russia’s annexation of Crimea from Ukraine have taken hold.
Chinese money may soon appear in Russian gold mining. Chinese gold miners have skimmed off the cream at home so today they’re looking at Russia with interest. They recognize that the ruble devaluation has made mining in Russia more attractive.
Although China’s gold output has achieved spectacular growth over the past 10 or 12 years, (World Gold Council (WGC), its reserve base cannot support current output levels. The bulk of the country’s production comes from relatively small mines. The “low-hanging fruit” in China’s gold deposits may already have been picked.
Three main factors contribute toSouth Africa’s decline from world leader to the current No. 7: cost of labor, cost of electricity, and the depth of the mines. The resources are there in the ground, but the economics of turning these resources into reserves are uncertain. OPINION: If South Africa largest gold miners are going to survive beyond the next few decades, a radical reshaping of the industry is necessary.
in reply to: INTERSTATE COMMERCE AND SMALL MINES #6146The United States Court of Appeals for the Ninth circuit accepted the appeal filed by Original Sixteen to One Mine, Inc. v. Secretary of Labor (case name). The 9th Circuit Case Number is: 16-72349.
Affirming this appeal will benefit miners, future miners, Californians and all Americans. The record under review favors this decision. Assistance is sought (financially and legally)to present a compelling understanding of the law and the current practice of the Secretary of Labor. While this may seem like an issue only important to the mining industry, without enforcing the legislative intent of the law, the United States citizens will lose a very necessary right.
Below is the accompanying letter sent to the Court.
in reply to: INTERSTATE COMMERCE AND SMALL MINES #6145Cathy A. Catterson, Circuit and Court of Appeals Executive July 8, 2016
Office of the Circuit Executive
U.S. Courts for the Ninth Circuit
P.O. Box 193939
San Francisco, CA 94119-3939Molly Dwyer, Clerk of Court
Office of the Clerk
U.S. Court of Appeals for the Ninth Circuit
P.O. Box 193939
San Francisco, CA 94119-3939Dear Executives Catterson and Dwyer,
Original Sixteen to One Mine, Inc. (operator) and its miners (WE) have been adversely affected by an order of the Federal Mine Safety and Health Review Commission (FMSHRC) under the Federal Mine Safety and Health Act of 1977, Public Law 91-173 (ACT). WE ask for a review of such order in your court in our district, the Ninth Circuit. WE pray that the order be modified or set aside as allowed in Sec.106. (a)(1) of the ACT.
Citations were written outside of the law specified in SEC 4 under the heading, MINES SUBJECT TO ACT: Each coal or other mine, the products of which enter commerce, or the operations or products of which affect commerce, and each operator of such mine, and every miner in such mine shall be subject to the provisions of the ACT.
The Secretary of Labor is designated to carry out the intents by Congress of ACT, SEC. 2. Congress declares the importance of our “most precious resource—the miner.” The Mine Safety and Health Administration (MSHA) was established to carryout CFR 30 Mineral Resources and issue citations. During the public hearing for citations, MSHA placed no supportive testimony to refute its position that Plumbago meets the requirement for regulations under ACT. No case rulings to support the Administrative Law Judge (ALJ) or FMSHRC decisions are entered into the record.
While there are instances where SEC. 4. language was challenged by an operator and the challenge fails, there are no cases or situations that resemble Plumbago. WE entered over eighty pages of testimony supporting our position, including the recent decision by the United States Supreme Court regarding the Affordable Care Act and its affect on interstate commerce.
The argument that at one time, Plumbago was a mine and affected commerce, has merit. The argument that the operations at Plumbago meet the requirement of SEC. 4. during recent times has no standing. MSHA actions followed by the ALJ and FMSHRC, violates the intent of Congress as written in ACT.
This important law must be honestly enforced in its entirety, not through a selective interpretational process. This behavior must be severed, not the law but its abuse. Only the Judicial Branch remains to protect the American miner from extinction by over reaching power. The Legislative Branch held numerous public meeting in the 1970’s on the subject of mining health and safety in the industry. Congress passed a law for the Executive Branch to implement. Over a span of 39 years regulators have drifted away from its stated purposes. WE pray for relief and support from the Judicial Branch to return the course of health and safety to the most endangered species in America, the underground gold miner.
Sincerely yours,
Michael Meister Miller, Presidentin reply to: Clips from Alleghany #6144SLEEPLESS IN ALLEGHANY. Why are the locals walking around with bloodshot eyes?
Northern California is in a heat spell and even at 4500 feet elevation the nights are unusually hot. One guy told Scoop that he woke up, looked for the temperature and at midnight is was 85 degrees inside. Residents up here rarely have cool air conditioners and hot bedroom aren’t a good place to fall asleep.
in reply to: Water and Arsenic: which came first? #6143The EPA limits arsenic in tap water to 10 parts per billion. But levels of this metal may be up to 100 times higher in well water in some areas of the country. Even so, an arsenic level as high as 1,000 parts per billion may not be something to get upset about. Arsenic has actually been approved in high dilution as a safe homeopathic remedy in the U.S. for decades with no ill effects.
But if testing shows your well water contains dangerous levels of arsenic, you should take measures to decontaminate it via aeration or reverse osmosis.Always on the side of science,
Marc S. Micozzi, M.D., Ph.D.
Insiders’ Curesin reply to: Gold Enters Major Bull Market #6142Gold $1343.30 UP $9.60
Following the British vote to exit the EU, gold advanced smartly. Since then it has been backing and filling with a lower bias.
Expecting a lower metal price, BREXIT changed everything for the time being. Currently, gold is positive while it remains
above its 1000 day at $1306.06.There is no question what pushed gold higher and sustained the advancing metal related shares was money exiting western Europe. This trend continues, especially in the U.S. replica watches stock market. Although more funds will eventually head our way, a question remains, is this spurt near to ending
in reply to: Ideal Time for Facts #6141PAPER GOLD IS A COMBUSTIONABLE
Very quickly, here is a news flash (July 7, 2016) that crossed my office from Calico Resource Corp. The officers and directors are pleased to announce that they sold out to Paramount Gold Nevada Corp via a court approved plan of “arrangement”. Love it! It used to be called reorganization under bankruptcy laws.Look at how the insiders financed this raw land proposal to the public.
Common shares outstanding 2011: 15,275,127
Common shares outstanding 2012 29,923,504
Common shares outstanding 2013 = 38,669,547
Common shares outstanding 2014 = 51,557,212
Common shares outstanding 2015 = 75,785,794
Common shares outstanding 2016 = 102,445,845The Canadians have another sweet accounting gimmick, all legal, I presume. It is called “Exploration and Evaluation Asserts”. While this remarkable asset basically stayed physically the same, its exploration and evaluation numbers explode from $140,795 in 2010, to $1,168,286 in 2011, $8,777,390 in 2014, $12,433,509 in 2015 and at the time of the “arrangement” is listed at $14,381,982. How does this happen when the cheap nike free expenses mostly listed are: investor relations, management and professional fees. They exploded and are most of the annual corporate expenses.
Keep your eyes wide open air jordan to what may be heading into the financial news as gold gains more attention. This game is as old as gold, when those crafty people centuries ago filed a little gold from the currency.
in reply to: Stock exchange listing #6140Mike,
I have sent an E-Mail to the corporate office before the Brexit Vote with three bids to buy 5.000 shares each at purchase prices of 0.15, 0.20 and 0.25 $.
Could you have these offers posted on the company website please? Thank you.in reply to: INTERSTATE COMMERCE AND SMALL MINES #6139The more citations they write the more secure their jobs are then they have to return to make sure the cracked plastic light switch got replaced, just pathetic.
in reply to: INTERSTATE COMMERCE AND SMALL MINES #6138The small miner has disappeared in the West. Any working are hiding from MSHA,the federal anti-mining agency established in 1977,to protect the miners from injury, death or health due to the reckless behavior of operators.
This was needed in the 1960’s and 1970’s. The cure was passed in Congress and “An Act”(as it is called) was crystal clear on who Congress intended to protect with enforcement:only those mines that affect interstate commerce.
This week my business took me by phone to people in the mining industry in Montana, Idaho, Colorado and Arizona. I asked each party, “How is mining going?” The answer was the same:few or none are working or can be found. The reasons cited in each phone call is the small operator cannot satisfy MSHA inspections as a start up business.
California has this problem among others and is a problem in the Alleghany Mining District. It isn’t anymore because the five operators wishing to take their time and money to check out a mine were forced to abandon their dream.
When you read this, please don’t associate me as just another whining miner. Whining goes nowhere. The public needs to know how corrupt the agency under the federal Secretary of Labor has become or maybe it is the Secretary who has allowed the agency to become corrupt. This does not mean that all ray ban outlet MSHA employees are corrupt. It is the current system of enforcement that has lost its way. I have heard reports for many years.
MSHA will have completed the responsibility Congress asked it to do in 1977. when Congress empowered the Secretary of Labor to carry out this responsibility. Why? Very soon there will be no more small miners, individuals willing to risk their time and fortune in a most noble occupation. There will be zero injuries, deaths and of cheap oakley course no adverse health concerns. There will be no more small miners.
Our natural resources are controlled and exploited by large and multinational corporations. The dynamic of scale allows them choices that the little guy cannot make.
The only active areas for gold mining in USA, according to some of my suppliers, are in Nevada and Alaska. I am not whining. My heart is broken as are the dreams of many.
in reply to: Risk Management Strategies #6137Yesterday I was told about the labor issue at Hecla. Seems that the Company proposed reducing some benefits. The union took issue with this. I asked about the job/employment situation and was told that miners worth a lick had jobs, good jobs. The unemployed “miners“, well their story can be told around any mining camp.
Don’t know the workers compensation tax in Idaho, Montana or Nevada but in California the base rate is $84.65 for each $100 in wages. A problem in California is the small number on underground miners working. A primary reason why there are so few underground miners is the high cost of workers comp. Are we chasing our tails? California has the most proven gold deposit with the fewest underground miners working to get the stuff into circulation. The time for change is now.
I’ll look for more news about a labor strike and post it unless someone else has fresh news.
in reply to: Risk Management Strategies #6136That is very impressive! Good for Hecla. But I thought the miners for Hecla were on strike? Maybe this means that they were able to resolve or mediate the issues with the Union.
in reply to: Risk Management Strategies #6135Early this month an exciting and bold headline came out of Mullan, Idaho, home of the Silver Valley mining district: “Sinking of the Deepest Shaft in the USA Completed”. Congratulations to all the miners, independent contractors, executives and financiers for carrying forth this super human task!
With a finished diameter of 18 feet, the Lucky Friday #4 Shaft was sunk to a final depth of 9,587 feet below the surface. Completion of this shaft is a major milestone for the historic Lucky Friday Mine which has been in operation for over 74 years. The shaft provides access to lower mining levels which increase operational flexibility and extends the life of the mine by 23 years. May this risk reap a grand and justified reward!
The Lucky Friday #4 Shaft is a vertical shaft that begins underground, which makes it a Winze in mining terminology. A Winze is an internal shaft which requires the equivalent of a shaft head-frame and hoisting system. Again congratulations to the Hecla/Cementation Project Team for undertaking and completing another proud moment of mining history.
Thanks to The Mining Record of Denver Colorado for keeping mining industry news available to the public’s eye.
in reply to: Gold Enters Major Bull Market #6134Soros and many big players know it is faster and easier to make an investment paper deflate (go down) than increase in value (go up).
Short selling for manipulators is a money maker.in reply to: Gold Enters Major Bull Market #6133A follow up on what George Soros was doing marketwise several weeks back:
Today’s comments from Martin Armstrong,
“No professional trader tells people what he will do in advance. Those announcements were made AFTER Soros took a position. I believe they were stories to create his exit. You get people rushing in who think they are joining him when they are being used for the exit.
George Soros is reported by Bloomberg to have been on the wrong side for he was long in the pound before Britain’s vote to leave the European Union on Friday. That means he probably sold the gold positions and used that hype as the exit. He clearly assumed BREXIT would not happen. However, Soros is generally a bear in world stock markets and this is the majority of the crowd. Soros also donated $8 million to Hillary along with the worst of the worst from Wall Street.”
in reply to: Another U.S. precious metals miner goes foreign #6132American mining companies face unlawful enforcement of laws by its government and quasi-government entities along with numerous obstructions in America’s production of needed natural resources. It’s a fact! One hazard felt in some active mining places that we do not face is kidnapping our miners. For national security reasons, America must produce minerals from its own country.
News from headline June 27, 2016: “RELEASE OF KIDNAPPED MACMAHON WORKERS”
Macmahon Holdings has confirmed the release of all seven of its men who were abducted near its operations in Calabar, Nigeria on June 22, 2016. Five of the men have been injured – two of them seriously – and they are receiving medical attention. The two uninjured men are also undergoing medical assessment. Arrangements have been made for the men’s safe return to their families once they receive medical clearance to travel.
During the attack on June 22,, Matthew Odok, who was driving a vehicle the men were travelling in, was killed. The kidnapped workers were three Australians, two Nigerians, a New Zealander and a South African. According to reports one Macmahon worker, mechanic Tim Croot, managed to evade capture.
in reply to: Clips from Alleghany #6131If you’re familiar with the Sierra Nevada Mountain Range and listen to northern California weather reports, you have heard countless times, “Scattered thunderstorms and showers in the Sierra.” This can mean anything anywhere but yesterday in Alleghany from midnight to 6am it meant buckets of rain. Talk about throwing a wet blanket onto the shareholder meeting!
The crew adjusted the locations of the gold display and gold sales, the food location and transportation resulting in another delightful shareholder meeting. Traveling through the ZERO LEVEL was taking a walk through history said shareholders. In the back of the shop building two large Ingersoll Rand air compressors are mounting and look ready to run. Their date of installation is believed to be 1917. Let’s get some help and start them up for next year. If you ever have heard the thump, thump, thump of one of these, the sound will continue in your memory forever. Likely you haven’t, SO, Mike get some help, grease all the parts and give them some power. Maybe Ingersoll will send us some help.
The surprise was a visit from an old Cornish miner from the glory days of gold mining in Bodie. His true and factual account captivated the audience. For that moment he was William Hicks. The fundamentals of underground mining haven’t changed much.
Mike Miller and Dan O’Neill were re-elected and a new director Robert Besso, takes the place of the vacancy open with the retirement of Scott Robertson. Scot served as a director for nineteen years. While his presence will be missed, his sage advice remains as it does with all past directors, said Mike.
The mine property never looked better. Congratulations to this small and mighty group.
in reply to: Clips from Alleghany #6130I am wishing that I could have made it to the meeting today. I hope that the meeting went well, and I hope no shareholders fell down the Tightner shaft!
It is always nice to visit the Mine, and Alleghany. It is definitely one of the better areas of our great state of CA.
Shout-out to this company for all of the work they do to create an interesting and fun annual shareholder meeting!
in reply to: Miscellaneous #6129From Martin Armstrong:
Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a safe-deposit box is now considered money laundering. Governments want their taxes and all the laws are changing to ensure they get their money.
in reply to: Clips from Alleghany #6128What’s with the California weather? Last week it was in the 80’-90’s. This morning it iwas 44 degrees and perhaps snow in the high elevations. Next week the weatherman predicts low 100’s. Alleghany is looking pretty good. Weed eaters are purring about the community. The Spring brought much vegetation. The mine site looks better than it has in years.
Shareholder meeting is this Saturday and the museum has a two day show.. There will be a very high quality gold specimen display. Yes, it is father’s day but anyone within driving distance from Alleghany should take the chance and come.
Underground Gold Miners of California phone number is (530) 287-3330.
in reply to: Miscellaneous #6126The largest gold nugget ever unearthed came from Dunolly, Victoria, Australia on February 5, 1869. The Welcome Stranger Nugget weighed 150 pounds or 2315.5 troy ounces. Although a large nugget was found in Brazil, almost all of the world’s large nuggets come from Australia and Sierra County here in California. In 1869, a 1893 ounce nugget was found in Sierra City and earlier in 1860 a 1593 ounce nugget was found in about the same location.
In the 1930’s and 40’s several nuggets were extracted from the recently sold Ruby Drift Mine ranging in weight from 30 up to 52 ounces in the Alleghany Mining District. In the 1854 to 1862 period 12 nuggets were pulled from the Yankee Claim in the county weighing from 30 to 170 troy ounces.
Some of the biggest nuggets ever found were sent to the smelter and today only about a dozen over 500 ounces still exist.
Were all found in the 1800’s and later? Don’t bet on it. The richest land in the world for finding large nuggets only comes from two places, Victoria, Australia and the mining districts of Sierra County. What better place to search for gold than in these two areas that Mother Nature impregnated with so much already discovered gold and who knows how much more she continues to hold? It is wondered, how many more millions of ounces of gold are yet to me mined, especially in the Alleghany Mining District?
in reply to: Gold Enters Major Bull Market #6125Gold $1215,30 off $4.50
Silver $16.25 off $0.09Will gold sell off more, contrary to Soros’s positive outlook for it and on Barrick Gold?
The analyst Martin Armstrong and his computer Socrates relating to past bearish
intermediate calls on the metal from above $1,900, appear to think so.His Friday’s comments are certainly not bullish over the short term for gold:
It might appear that Soros’ bullish stance on gold and possibly Barrick Gold could be premature.
Friday’s comments from Martin Armstrong might indicate a storm ahead for gold:
“The markets are in turmoil. Gold has plunged again trading down trying to flirt with 1206. If we close below 1206 today, then get prepared for a test of 1174 which is the next Monthly Bearish beyond 1240. If we get this signal today, it begins to look like we will break 1000. Failing to exceed last year’s high keeps it on track where we have the potential for the low in 2016. Looks like we will shake the diehards out of the tree.”
This is only for the short term, the long term is a different story. Mr. Armstrong expects gold to reach $5,000 an ounce starting when gold finally hits its bottom. The big question is, has gold bottomed already or will it be bottoming lower? It would not surprise me if gold does make a lower low but without new lows in the gold related companies. Only time will tell.
in reply to: Miscellaneous #6124Informative History Channel presentation of the Myoneng Mine in South Africa, the world’s deepest gold mine.
in reply to: Gold Enters Major Bull Market #6123Talking about safe deposit boxes:
After the gold seizure order of 1933 IRS sealed safe deposit boxes nationwide. And of course the owners of the boxes were on record at the banks.
And of course the banks, who were controlling the access to the boxes, were held responsible that no seal was broken – except in the presence of an IRS-Representative.
That is a lesson from history too that is worthy of being remembered.
in reply to: Gold Enters Major Bull Market #6122Hans
Your reference to history seems quite in order. Thank you for your submission.
Yes, when it comes to government being pushed into a financial corner anything is possible. Roosevelt was a coin collector. If history repeats itself it may be OK to hold collection coins more than bars and the bullion coins and the bullion jewelry. Government appears certainly moving in that direction as holding gold in safety deposits boxes is now considered money laundering by them.
Here are some of today’s comments by Martin Armstrong:
When you introduce a collapse in confidence in government, people no longer “feel” secure and they hoard even the based currency. This is why we find so many hoards of debased Roman currency during the chaotic 3rd century.
It is a curious paradox. Right now people are hoarding, as are the banks and corporations. It is hard to hoard paper currency for you will not be able to distinguish between old and new. This means that the hoarding will migrate to tangible assets, shares, gold, silver, and antiquities.
Are folks putting scared money into the gold shares for safety? It would seem so, as the great advance in past months just might indicate a change in thinking. Gold has advanced only 20% from its recent lows while the shares are up many times more versus the metal’s achievement.
The shares are not yet into a major bull market but recent technical bullish preparations appear to be getting it ready to do so. Of course, when this takes place is another question.
in reply to: Gold Enters Major Bull Market #6121If governments become as desperate as Bluejay expects they will, it may be wise to reread Presidential Order 6102 signed by President Roosevelt in 1933.
Read the wording on the Internet and decide afterwords whether you want to own gold bars, gold coins or plain old gold juwelry.
in reply to: Gold Enters Major Bull Market #6120A Growing Case For Gold and Gold Related Companies
Posted May 21, 2016 by Martin Armstrong
Rock Hard PlaceThe Fed is between a rock and a hard place and is trying to be that little flower that sees the light. It has two choices: (1) deal with the pension crisis at home by raising rates to prevent defaults, or (2) keep rates low to save other governments in emerging markets who continue to borrow and are doomed anyhow. Then there is the question of whether the budget deficit in the USA will explode with rising rates.
The Fed has really lost control of the economy, but the mainstream still needs to figure this out. Our model goes nuts from 2018 into 2020. This is part of the peak in 2015.75. Of course, the general public does not see this yet. They should by next year and then the game will change.
Quiet-into-LightGovernments will not go quietly into the light. They will rage at every possible moment. They are moving toward electronic money since their solution is to force everyone to pay whatever tax they demand. On January 1, 2017, G20 will begin sharing info on everyone. Compliance in business will cost tens of billions of dollars alone. Even companies who do not have foreign clients will have to confirm they do not.Naturally, governments will act in the most stupid manner for they will not reform. Even if they grab everything, it would not be enough to save them. So be prepared. They will get very punitive. Expect crazy laws to benefit them like constitutional amendments. They will find whatever excuse to confiscate assets; mere suspicion will become proof and it will be your burden to prove innocence.
The old guard is near death. People like John McCain and Barbara Boxer, who was shut down in California, are out the door. We are looking at new people coming to power — the changing of the guard. In this respect, Trump is part of the new and Hillary is the old world of corrupt politics. We are turning the corner. Those in government remain clueless.
What survives is always tangible assets be it land, industry, shares, or something of value like gold, silver, antiques, etc. Whatever currency we use is only a medium of exchange between tangible assets. Currency is not “money,” it never holds its value, and by no means is it a store of wealth. It is just a medium of exchange like a language. So whatever we end up with, which I believe there will be some basket of currencies, will become the new medium of exchange through which everything else if measured.
in reply to: Gold Enters Major Bull Market #6119Reap
In September last year Barrick was below $6, now it’s risen to just under $18 after its recent failure at $20. Now we hear Soros likes gold and especially Barrick? Where were these comments when the stock was below $10? My bet is that Soros has been a seller of the shares for a trade or was acquiring put options to protect his position,
I learned the hard way that agreeing with possible planted media releases here and there is not always a good thing.
Check out the NUGT Index that trades freely as representative of the major golds. It is my opinion that as long as it is below 100 the chances of Soros making money on Barrick over the short term are not appealing.
As long as gold remains under $1320, I sense its last move’s momentum may have come to an end. Things are just not looking good for the precious metals at the moment. These moves go back and forth within major trends, The important aspect of gold’s future is it continues to be in a major bull market going into 13 years now. No matter how scary declines may be, and especially that drop from from $1900, it will always be in the favor of the steadied nerved folks to scale down buying when these movements take place.
in reply to: Gold Enters Major Bull Market #6118Someone is confident in gold’s future:
Billionaire Soros scoops up $264 million stake in world’s largest gold miner
Fund now owns a 1.7% stake in Canada’s Barrick Gold.
in reply to: Gold Enters Major Bull Market #6117Someone asked me today about the drop in price of gold spot. Pundits say: weaker oil and metal prices put pressure on commodities; concern that US interest rates would be raised; china growth and economy; stronger dollar; violence in Africa; declining interest in stock market. On and on it goes.
Blabber about gold price usually comes from people wishing an increase or people wishing a fall in the price.
What I took from the “big” drop today only means to me that people are manipulating it instead of leaving gold alone. The best person on this web site for understanding or at least familiar with charts and trends is BLUEJAY. Because I am in the gold producing business the spot price interests me; however at the same time it means very little in how I behave. We sell gold when we have it and need dollars. Pretty simple, isn’t it! There were more sellers than buyers to explain yesterday’s decline.
in reply to: Stock exchange listing #6115Gerald,
Every year about this time we mail the annual report to shareholders. Every year my mind searches for the clearest words to report the past year’s activities and report on some intentions for the coming year. Below is one paragraph from the annual message:
“Here is what good gold analysts write: message to gold share investors. Look for companies in which the management team has a significant stake. Look for companies that are taking concrete steps towards building a mine. And ignore the ones that keep issuing paper, particularly when markets are weak; another message for the mining companies. If there is any potential for near-term production, start producing. Forget all the other stuff. And, for goodness sake, ignore the bloke with the white teeth. Original Sixteen to One Mine, Inc. fits this analysis.”
Shareholders of record or all those that sent us their address will have the report this week or early next week, depending on postal service to your locale. There are three colored photographs on the back page, all relevant and historical. The last one entitled: A GOLD POUR—steps of the Pacific Stock Exchange—SAN FRANCISCO. During the coming year promotion of our Company will have a modest budget of time and money. I agree with all of you regarding the public exchange of Sixteen to One ownership. It makes little sense.
I have a long standing knowledge of the gold junior market, also called “penny gold stocks”. In the Form 10-k filed with the S&EC Washington D.C. there is ITEM 5, which informs the public (and shareholders). “Management believes that the assets of the Company are understated due to the age of acquisitions. No value is recorded on the balance sheet for timber. No value is recorded on the balance sheet for the Company owned water rights. Reduced value is recorded on the balance sheet for buildings, equipment and land. Fixed assets ate recorded at historic cost less depreciation.”
Unlike most of the remaining junior gold companies, our Company does not capitalize exploration work. This is most important for anyone considering taking a position in a gold mining company. I read outlandish dollar numbers for assets on most balance sheets. Who are these presidents officers and board members fooling? Many is one answer.
Gerald, Bluejay, jnjennings, Hans and cw3343 let’s work to change some of this obvious foolishness regarding the Sixteen to One share pricing. One hundred shares as a buyer or seller is uneconomical at penny prices especially for sellers. Last year the high was $0.56 and the low was $0.44 on our website. Promotion is in our future.
in reply to: Stock exchange listing #6113I’m willing to buy more shares at below asset value. Letting the shares trade so low on the Pink Sheets is just foolish. Show me some real size.
in reply to: Stock exchange listing #6114I have been trying to get the pink sheet price up for years, but at least one broker drives the price to very low.Some shares were sold today at$o.10 but not mine.
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