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Weekly Closes
Gold $1368.80 Off $40.01 or 2.85%
Silver $26.04 Off $ 1.64 or 6%For the past three days the large producing countries met in South Korea to iron out their difference, mainly in respect to each other’s currencies and how it is being negatively felt in reduced exports comcommitantly with struggling economies.
Currently, the floating exchange rates lack an anchor which really allows them to gyrate as a result on the whims of the marketplace, far in the excess of what most would prefer.
The root of the problem is that politicians will be politicians and really nothing changes except the intensity of the finger pointing when events threaten their security. We have far too many lawyers as politicians, as opposed to economists, who really never understand that in order to correctly manage an economy one must first be aware of how each of its internal parts functions as well as it being joined at the hip internationally with other countries.
In the final day of the G-20 meeting not much of anything worth mentioning was accomplished. To cover up their apparent confusion and continuing differences of opinion, Uncle Sam’s caretakers decided to pressure gold and silver lower in hopes of moulding people’s minds that this great meeting of member minds had found a solution to today’s currency and economic upheavals.
It appears that the gold and silver face saving sell-off may be nearing its end.
In the past few days something different in the markets has been taking place: the big gold and silver stocks have been holding recent gains. This doesn’t surprise close observers, as recently all-time highs in both the XAU and HUI Ixdexes have been established putting pressure on the shorts. Their game, selling the stocks short and buying the bullion, had been working for the hedge funds and the banks for a while but it now seems they are trapped with nowhere to hide.
It is viewed that the smart money is betting on increasing gold prices overall to influence the big producer share prices which have lagged in performance, to some degree over past years. The expected higher share prices will be supported by producer realized sales above $1200. Very few realize that today’s major golds will be the blue chip stocks of tomorrow in everyone’s portfolio.
It is expected that the cartel propaganda machines will be berating gold and silver related investments over the weekend in preparation for supporting the continuation of falling metal prices next week.
Don’t be fooled by weakness: weakness has always been used as a buying opportunity in bull markets. The only question that really remains is, the extent of this forced rout.
in reply to: Miscellaneous #4465The following is from the November 10th, 2010 International Forecaster written by Bob Chapman:
China and Russia Join Germany in Scolding(Bernanke’s QE-2); Obama Defends Move as Pro-Growth.
The G-20 summit that begins Wednesday night in Seoul is shaping up as a showdown between exporting powers, such as Germany and China, and nations such as the U.S. that are struggling to emerge from recession and high unemployment…
On Monday, China’s Vice Finance Minister Zhu Guangyao said the U.S. isn’t living up to its responsibility as an issuer of a global reserve currency…
QE-1 and QE-2 are smoke-screens, supposedly for jobs, but it’s the banks that are really getting the money for building up their reserves because the reserves they really carry on their balance sheets really stink. The banksters aren’t putting the money into the economy as few of them are making loans. The money gets funneled into trading markets for speculation, driving up commodity prices and costing us dearly at the supermarket.
I went into Safeway today to get some sugar and was shocked at the sugar prices and dismayed to discover that C & H Sugar had cut the size of their 5 pound bag to 4 pounds. It wasn’t more than 4 or 5 months ago that Dove Ice Cream cut their 4 bars in a box to just 3 bars in each.
Our currency is slowly being debased. If you don’t hold gold and silver for protection against this debasement then the supermarkets will be continuing in steadily requiring you to part with more and more of your money for the same thing.
I’ve seen enough. It’s time to purchase the Costco plastic boxes and duct tape for rice, dried beans and such plus, stocking your shelves with other staples that you require. We could well be at the very early stages of hyper inflation thanks to the banker’s influence over the Fed.
in reply to: Gold Enters Major Bull Market #4464Gold $1402.10
Silver $27.58Gold and silver were hit with some selling late today as a result of the CME raising margins for maintaining silver positions 30%, from $5000 to $6500.
The experienced Jim Sinclair at http://www.jsmineset.com in his article entitled, “CME Group Announces Money and Margin Requirement Increases” delves deeply into this issue. The report is quite educational and well worth the read.
in reply to: Gold Enters Major Bull Market #4461Gold $1418.70 UP 8.50
Silver $28.47 UP 0.71Gold has entered Mr. Martin Armstrong’s indicated resistance zone of 1440 to 1480 with its high earlier this morning at 1423.40.
In Mr. Armstrong’s mid September article, “An 11 Year High for 2010?,” he speaks of this area as being overhead resistance in the form of converging trendlines including the top of gold’s monthly ascending channel. In the report he discusses the probability for a normal reaction following contact with this area.
Mr. Armstrong’s caveat is that ‘if” gold trades right through this zone, it will never look back. As a comparison of what can happen, he posted a chart configuration of similiar convering trendlines, including the monthly top channel line on the Dow Jones Average chart from 1985. When the DOW bettered this almost identical trendline set-up as gold now finds itself in with its 1440 to 1480 area, the DOW moved from its breakout point at 1,700 to 14,000 over two decades.
As oddly as it may sound, gold could be a better buy higher if it fails to take a normal reaction following its recent run than buying in here as it makes contact with a very important milestone. If a reaction sets in, there will be opportunities to buy the metal lower. If a reaction fails and gold does surmount this suspected barrier, it will be well worth paying the insurance as the rewards will be spectacular.
Just heard on Bloomberg that Goldman Sachs is forecasting 1650 gold. It seems, by using a little contrary reasoning, Goldman may be setting up the market for a short term drop as it touts the metal going higher. When is the last time Goldman Sachs did the public any favors? Goldman reads Martin Armstrong as do others.
Just as a side note, Mr. James Sinclair was the first one who predicted $1650 gold and that’s when it much much lower.
in reply to: Miscellaneous #4463Bluejay, your post on 11-2-10 is the BEST of the BEST of all time! (below)
Nice to read prosaic words from a usually very direct, objective writer of things absolutely spot-on (pun-intended)….that one is the best! I’m going to make a point to read it over and over, print it out for a convenient chance to share, and re-read and read again. Cracks me up, how true it is.
Regarding your mention of meddling, interference, limitations and obstructions….Let’s all ask a simple question:
“Why do we need new laws tomorrow that we don’t have today?”
Stop passing laws! Enough already anymore, all right? We don’t need a tighter noose around our necks…in fact, let’s cut the noose and get rid of them.
in reply to: Miscellaneous #4462I just love this thread. I never let a day pass without reading it.:)
in reply to: Gold Enters Major Bull Market #4457Check out the latest educational video from: http://inflation.us/videos.html
in reply to: Gold Enters Major Bull Market #4456Does anyone have any doubt that gold and silver is the place to be as a hedge against your wealth destruction while the Fed continues to debase our currency?
Gold $1406.40 UP 12.30
Silver $27.56 UP 0.80in reply to: How to Approach Thin Veins & Cost #4460No, you never give up. You just keep full on blasting ahead!!
in reply to: How to Approach Thin Veins & Cost #4459I am planning to do mining, Should I stop that thought because of some environment hazard
in reply to: Risk Management Strategies #4458Robert Zoellick’s recent remarks on a possible revival of the gold standard as an international benchmark to measure inflation-rates or currency-fluctuations are good news for Origsix-Supporters. After all, Origsix was created in times, when an official gold standard was strictly observed inside the USA.
The risk-management strategists of the World Bank have obviously rediscovered the value of precious metals whose supply is limited by scientific facts that cannot be tampered with. Better times for Origsix may be just around the corner.
in reply to: Gold Enters Major Bull Market #4455Weekly closes:
Gold 1,394.10
Silver 26.76It seems quite apparent that the price suppression schemes in gold and silver of past years have for at least, temporarily, ended. What has been observed is that the cartel is slowly throwing in the towel by covering their short sales at losses and rethinking their current outstanding short positions.
What may well prove to be, IMO, the tip of the iceberg of deceit is coming to light as just this past Tuesday, November 2, 2010, in a U.S. District court of New York two silver market participants, J.P. Morgan and HSBC, are being accused of conspiracy to manipulate metal prices in a class action suit over the past three years, starting in June of 2008.
Aside from this topic, I recently learned that a depositor with his savings at a HSBC bank in New York City requested $20,000 one day. The branch told him he could not get it all. At the end of the day, he had to go to a total of six different HSBC branches in NYC for his money.
What’s going on here? Are the branches out of cash? My mother in Canada had the same problem on a request for $12,000 from her Canadian bank. It would certainly appear that people are pulling there funds out of the banks and as a result, some of the banks have a cash shortage. Just imagine, what would happen if someone wanted to close their account and take their $100,000 or more with them?
In some background to the price fixing suit; in the month of June of 2008 gold was readying for another attempt at breaching the $1,000 level. At about the same time silver was trading in the range between $18 and $20 an ounce. What better time for the market crooks to start manipulating prices lower from these psychological round numbered areas? Apparently, this is exactly what took place not only by J.P. Morgan and HSBC but, probably, other banks, as well. Remember, the Glass Steagal Act was ablolished by Clinton as a result of prodding by the banksters so they could get back into the stock trading business and begin rolling the dice again.
In the general period from June of 2008 to October of 2008, gold collapsed from over $1000 to just about $700 per ounce. Silver fared worse, spiralling down abruptly from about $20 to just under $9.
The cruel part of this alleged price fixing scheme did not really end with the gold and silver prices but continued with more devastation with the related leveraged plays: options on the metals, the gold and silver shares along with their options.
During this period the XAU Index (Philadelphia Gold and Silver Index) was beaten down from just above 200 on the chart to 62, a drop of 70% while gold was off some 30% and silver got dripped up in the excess of 50%. The little explorers fared far worse, one of my holding took a savage beating of about 94% during this period.
Billions and billions of dollars were stolen by the suspected involved banks from the public, one the biggest heists of all-time, and who went to jail for this suspected crime against mankind? Well, you tell me.
If history is any indication of how this massive heist by the dark side works itself out against the unbeknowst unprepared public, then the yet to be convicted miscreants will just end up with a slap on their wrists and a small fines. Or, will the courts do the right thing?
Don’t expect much as most judges and our representatives in government are plainly, just paid ranch hands controlled by puppet pulling strings from behind the curtain .
You protect yourselves against these evils by holding gold and silver and never, never let the fear of sell-offs effect your thinking as long as gold and silver remain in their bull markets.
Oh by the way, the October 2008 5 cent stock now sells for $1.32. Methodically take advantage of dips in gold and silver and their related shares as opportunities to buy more.
in reply to: Clips from Alleghany #4454Wlkirk, yes, it’s good to know…always grand when we can make the distiction.
Along these lines, it sure makes one wonder what rambles through the minds of those opportunistic political demagogues who persist in targeting this gem of a mine (CDAA, CRWQCB, 3rd Court of Appeals, to name a few…)
Why oh why? Perhaps they have designs other than that which they claim in the name of public defense?????
in reply to: Clips from Alleghany #4453Rick,
Your point is taken. I was speaking in generalities. Not targeting any one mine nor any one farm.in reply to: Gold Enters Major Bull Market #4450ALERT
The widely followed gold stock index, HUI, has bettered a connecting line of historical yearly highs. It strongly appears the corral gate has been opened and the herd is poised to stampede higher.
The timing couldn’t be better for a news release to advise the world that are heart is still beating which will bring in buyers to positively effect our low share price.
Let’s get OSTO moving!
in reply to: Clips from Alleghany #4449Scoop observed that “. . . people regard everything man does on earth is bad.” This is all too often correct. May I add that in relative terms, mining is decried, while farming is applauded. Yet both can and have been done poorly. An example of one is the toxic legacy of the gold rush. An example of the other is the dust bowl. We should do the best we know how, but we will never be without impacts and errors.
in reply to: Clips from Alleghany #4452As to the toxic legacy of the gold-rush….quartz and sand vs. toxic leach fields drastically defines the Original Sixteen to One Mine into a model for non-toxic mining. Please, let’s all be sure to make this distinction.
After all, this is the legacy that distinguishes OAu from all others. Wlkirk, please recognize this.
To wit: the gold-rush has a rich history that has been tarnished by subsequent extraction proccesses…the difference between those that have caused damage and those that have not is stark.
Sixteen to One is a pure mine, with no (none!!!) environmental toxicity impact.
in reply to: Gold Enters Major Bull Market #4451Gold selling for all-time high, last $1393.10.
Silver getting much stronger at $26.26, up $1.42.
in reply to: Gold Enters Major Bull Market #4448A follow-up to the wild action is gold and silver today as Jim Sinclair was interviewed by Eric King:
With the Fed announcement today and the resulting tremendous volatility in gold and silver, King World News interviewed the legendary Jim Sinclair. When asked about the action in gold Sinclair responded, “We had two periods today where the offerings were being made in huge amounts and the bids were running for cover. I mean it’s your standard manipulation. But you can be sure that there is a designed effort to hold the dollar and to oppose gold going to the positive side so that the action of the Federal Reserve will not be analyzed as extreme, even thought it is.”
November 3, 2010Jim Sinclair continues:
“I think the most salient point of what has taken place today is not the number but more so the fact that the Fed took a stand in the face of both national and international, in fact fierce international criticism of the policy.”
How did you know that there was going to be a large number for QE?
“Well you have to get a feel from people who do business with the Fed on a day to day basis, and what they found unusual was that Bernanke actually came out well before the meeting and gave an indication of exactly what he had intended to do. Now you have to look at what the cost would be of backing off from that. And you really wonder whether or not Bernanke actually set up all of this criticism, to come out and look for the first time like a very strong Fed, even if their direction might be misguided.
I don’t think QE is good, and I wouldn’t defend the economics of it but I don’t think there was any alternative. The need for the QE basically to infinity and that’s I think what you can call today as a watershed event, the need basically is because the balance sheets of the financial community are all a product of FASB’s permission to value assets that don’t exist, that aren’t there, that are entirely fabricated.
The Fed has a better picture of the financial condition of US entities than any central bank anywhere. The Fed has the entire picture of what it’s holding on its balance sheet, the Fed knows the extent and difficulty of the problem. The Fed has kicked the can down the road one more time because there is no other choice.
If the Fed hadn’t acted to bail out the international investment banks when the over the counter derivative meltdown first came, you would have had a roll over you wouldn’t believe. So you are stuck between a rock and a hard place, it isn’t right what they are doing but there is no other alternative.”
Why was QE reported at $600 billion when it is really $900 billion?
“Because that’s management of perspective economics.”
Are we in a depression?
“We are in unchartered waters with business folding over. We don’t know what the name will be for this. One thing we do know is it’s not dollar positive and that the only insurance out there that would react positively to things we can’t control such as Fed decisions is gold.”
Is it ok to let gold run in a day or two?
“I don’t think you can really control it. I think that gold will run but as of today, whenever the boss speaks, we’ll call him the financial boss, there is always intervention to make the boss look good. It’s never failed, it will always be so, and it is so today.”
When asked about the US dollar Sinclair responded, “72 right now is the price objective, then I think some modest strength, and then into the sixties.”
Jim Sinclair also mentioned the dollar index, “could eventually fall to 56.”
But theoretically if we can hold in that level and that’s the low, it’s not the end of the world?
“I don’t think it has to be the end of the world, I think it’s the end of doing business as has been done. I think it’s the tail end of the darkest period we have ever had in finance and the dollar will reflect that.”
When asked about how his father Bert Seligman and his business partner Jesse Livermore would be trading gold going forward Sinclair responded, “I believe firmly that Bert would have considered it (today) a bottom, and now they (Bert and Jesse) would be looking to pick it up on any dips.”
Well there you have it from one of the greats, gold has bottomed. Assuming Sinclair is correct, for all of you dip buyers, if you blinked you missed it.
Eric King
KingWorldNews.comin reply to: Clips from Alleghany #4447Original Sixteen to One Mine, Inc. timely filed its 3rd quarter 10-Q with the SEC today. A formatted copy is available. Ask Rae at corp@origsix.com.
Also, Mike Miller will be on a workshop panel at the Sierra Fund Conference in Nevada City on Tuesday Nov. 9 at 11:00am at the Miners’ Foundry. He will also be a speaker at the closing panel at 4:30pm. Sierra Fund advocates, “The Toxic Legacy of the Gold Rush”.
To most of them, everything man does on earth is bad. Good luck, Mike. You are entering a den of extremists. Forget history. Rewrite it tainted with inaccurate, biased or over simplified opinions.
The event is open to the public but registration is requested. Go to Sierra Fund website for more information: http://www.sierrafund.org. We are pleased that Mike was invited to most likely bring a different perspective to the conference.
in reply to: Gold Enters Major Bull Market #4446Gold $1348.60
Silver $24.87The gold and silver markets were subject to volatility in today’s session with two dive bomber attacks conducted by the usual price suppressing culprits followed by assertive “right back in your face” buying. Whoever instigated these selling waves, they failed miserably which speaks loadly to the strength of these markets.
The selling waves took gold from 1365 to 1330 and from 1345 to 1325. Regarding silver, the metal traded lower from 25 to 23.95 and again from 24.73 to 24.32.
Sorry boys, no cigar today.
in reply to: How to Approach Thin Veins & Cost #4445Gold Mining Opportunity (see the entry below this one)
There is an inquiry about the lease. Mining leases have terms and conditions unique to the industry. The Sixteen to One requires a modest amount due at the time of recording the lease in Sierra County, a gross royalty on gold production, fair performance clauses, proof of required insurances, minimum monthly payments, rights of inspection, and the usual covenants that protect both parties. We want the new operator to succeed. Capitalizing the operation should be a minimum of $2 million. Three million is safer and $4 million really gets the operation flying. There is room for creative thinking on exit strategies for the lessee.
in reply to: Miscellaneous #4444Some thoughts today from the Casey Dispatch:
On the Institutional Level…
Since the dawn of human existence, people have grouped together. There’s safety in numbers, and the larger the group, the higher your odds of finding an agreeable mate – not to mention one that is not directly related to you.From the earliest days of this lumping together, leaders have been selected – if for no other reason than to give the lumps someone to line up in front of while demanding they “do something” about one problem or another.
Noisy neighbors? Kid dragged off by a pride of lions, or the wife by some Lothario down the valley? It’s off to El Jefe to complain.
The top dog, in time supplanted by his or her shaman (shawomyn?), quickly learned to encourage the tribe in their belief that the leadership possessed superior problem-solving abilities, and then to use those beliefs to personal advantage. The world has never been the same since.
More than ever in today’s world – a world of enlightened democracy – we choose our leaders based on widely held beliefs that they can solve all that ails us. Unemployment may have replaced lions and Muslim extremists the Lothario down the valley – but the net result is the same: a lot of whining and demanding that the head honchos do something.
To state the obvious, doing something invariably involves taking some sort of action. Back in the old days, the sorts of action to be taken were fairly straightforward. Lions or Lotharios alike were a matter of rounding up the appropriate number of armed lumps and setting off with firm intentions.
When the shamans came along, the game evolved as the connection between problems and solutions became rather more vague. Volcano spewing hot ash over your crops? A somber dance around the evening fire or the tossing of virgins into the volcano’s maw might be called for – actions that brought no immediate results (unless you were the virgin, that is). In these instances, the shaman could only hope for the best or, if the solution failed to materialize, to try and change the subject.
In modern society, taking action is not nearly so simple and, in fact, is as often as not entirely and utterly counterproductive. “We want more jobs!” demand the lumps. “And while you’re at it, we want a new truck, too!”
Faced with being chased out of office and having to actually work for a living, the politicians now occupying the high seats at tribal council fold back their Italian cuffs and set about drafting a steady stream of legislation designed to solve society’s most pressing problems. Or, at least, the problems felt most pressing by a sufficient number of voters to assure the legislators’ victory in the next election.
Of course, this taking of action – and in a big society with big problems, we are talking about big actions with big consequences – runs contrary to the fundamental tenets of a free market and the rights of the individual. Simply, every new regulation in some way limits some market, just as every new tax or spending program benefits a favored group only by disadvantaging another.
While I can’t put my finger on the exact point in time that the U.S. government made the shift from a generally laissez-faire attitude to one of steady action – most often meddling, interference, limitations, and obstruction – but it’s been many decades now. And, of course, it’s not just the leaders of the U.S. who’ve been playing this destructive game, but El Jefes the world over.
It’s not surprising, therefore, that the world today finds itself in such a fix. Or, more specifically, finds itself with problems that can’t be solved by layering on even more government, at least not without triggering dire consequences.
And that, dear reader, is the good news.
in reply to: How to Approach Thin Veins & Cost #4443GOLD MINING OPPORTUNITY
The South Central Sixteen to One underground workings are available for lease. The Sixteen to One has thirty-five miles of levels. The current operation and the long range plan concentrate in the North Central. We will be there for another 100 years. The South Central is idle with no plans for immediate mining. This valuable part of the Sixteen to One deposit (extensive maps, production records and equipment available) is wasting away.
Why would one spend five to eight years getting permits to operate a gold mine? Put your money to work in direct mining. Here is as good a gold bet as any IN THE WORLD. Your investment goes to work immediately to access KNOWN DEPOSITS OF GOLD. Put a group together or go it alone.
Here is a proven gold mine, just sitting idle. I know that some Germans, English, Canadians, Iranians, Chinese, Australians, Saudi Arabians and even perhaps some US Americans have thought about or are currently looking for a way to get gold. AND ALL OF YOU SHOULD BE LOOKING FOR THE BEST WAY TO GET GOLD QUICKLY. What about all the venture capitalists? Why not undertake a special adventure?
Our company worked the South Central from 1995 to 2000; most of the labor was spent in the installation of equipment and sinking below the fault beneath the 2400 level. A fall in the spot price of gold and the tragic accidental death of a miner left us under financed to continue mining. An absence of gold was not the problem!
Go buy gold, if that suits you; however, that our venerable Company offers its prized gold deposit for exploitation to a third party is worth some serious investigation. One condition for this look: other than the information contained in this web site, the investigation begins in Alleghany. Questions encouraged. Call (530) 287-3223 or write me at PO Box 909, Alleghany,
CA 95910 or email to mmiller@origsix.comYou can help by introducing this gold proposal to others. Check this entry from time to time because it may be revised as time passes. Comments appreciated. Thanks.
in reply to: Miscellaneous #4442In a disturbing video, “End of Liberty,” let the truth be told. Check out what is happening to all of us, http://inflation.us/videos.html
in reply to: Clips from Alleghany #4441Damage to the wooden portal leading to the underground workings was greater than first indicated. Steel sets are now in place and the entrance to the workings is safely repaired. A week’s worth of time repairing the 1000 level was lost. Oh well, that’s gold mining. Hang in there, guys!
in reply to: Clips from Alleghany #4440Look under “NEWS” on this page for a recent article regarding a report on prosecutorial misconduct that was published by the Northern California Innocence Project at Santa Clara University. The 16:1 is vindicated by the study but sadly, as some of you know, the mine was unsuccessful with its claim for damages against the CDAA.
in reply to: Clips from Alleghany #4439Thirty-six hours of steady rain with long periods of heavy pours. That was last weekend. Mine road has several wash outs and deep ruts but nothing that a Cat 966 won’t fix. Main portal suffered minor injury. Lots of car accident reported around Highways 80 and 49. Sun shinning now. Fire danger zero.
MSHA arrived last Wednesday and continued the inspection Thursday. Miners expressed concerned about how the Department of Labor uses the Sixteen to One mine as a training ground for new and inexperienced federal inspectors. These inspections are twice as long and seriously interrupt their work.
The plebe this time cited a square point shovel with damaged at the wooden end as a danger to the miners. He wrote, “The shovel was not tagged out of service and is readily available to any of the 5 miners on site”. Who in the mining business has ever tagged out a shovel? A new square point shovel stood right next to the older one. Maybe somewhere a miner is so stupid that the old one would be his choice to use rather than the new one, but that possibility is doubtful. Treatment like this sets back the positive respect that all US miners must have for inspectors and visa versa. Mike said that he won’t mind helping new inspectors but the company should be paid for the service.
in reply to: Gold Enters Major Bull Market #4438Gold $1327.70
Silver $23.29The gold price has been easing since hitting $1388 or so some days back as the $1400 plus area seemed to be a logical area to pause. Just above $1400 is a major intermediate resistance level posed by the top of an ascending trend channel line. Martin Armstrong has stated that if this channel line is broken with higher prices then gold would be expected to advance sharply following a minor reaction back to the point of penetration. Even though gold could easily remain weak for a while as it catches its breathe, there has been some stirring of interest in a few companies with gold interests in California.
Since Rockroby’s mention of North Bay Resource’s October 4th acquisition of the Ruby Mine, a few of the companies holding gold properties in the State have been reviewed.
1) Emgold Mining Corp(EMR-TSXV) $0.22 Canadian appears preparing to advance into a new uptrend from the $0.18 to $0.22 area. In a recent interview of its president it was stated that he is committed to securing all permits for bringing back the Idaho-Maryland Mine to production, again.
2) The Sutter Gold Mining Company(SGM-TSXV) $0.21 Canadian in Amador County continues to receive permits which is very likely to result in gold mining at the Lincoln-Comet section of the Lincoln Project. In the past few weeks SGM has advanced about 100% from near to the $0.10 level.
3) In a surprise, http://www.bigcharts.com has elected to return the Original Sixteen To One Mine Inc. to its list of followed stocks. Big Charts had not carried OSTO stock trading statistics from the Pink Sheets for some years now. Looking over the grossly under-valued Pink Sheet trading data, the shares recently moved above the 1000 day average of their’s at the $0.175 area with a last of $0.18.
One only has to understand how OTC traders pay their mortgages, they make most of it on shorting low priced shares which our company qualifies under. While our market at the mine office is $0.50 bid with an offering of $0.89 with 3,000 shares wanted and 5,000 offered, the OTC dealer continues to ignore our higher bid.
It is sad that public sell orders at the market never see the light of day of a superior bid that conflicts with the intention of the OTC dealer to keep our shares low for his profit motive, or agenda to steal money from the unsuspecting public selling our shares.
All the company would have to do to partly correct this unfairness would be to issue a press release quoting the company’s geologist as to the potential of our mining properties.
We are now entering a period of increasing public interest in the gold sector. There are potential investors checking out ALL companies gold related now and it would be nice by issuing a news release concerning the company so to inform them that our heart is still beating.
Even North Bay Resources(NBRI-OTC) $0.027 U.S. shares responded with increased volume to its recent news release which aided in stimulating public awareness to its existance. Even NBRI’s chart is indicating that an important bottom has been established. The stock is certainly very low priced but looks attracrive on any reaction into the $0.019 to $0.021 range.
No one knows exactly where this current gold price weakness will end but scale down buying on ANY gold reaction since 2001 has proven the winner.
in reply to: Clips from Alleghany #4434That’s good to have some free
publicity. We may be likely to
have more from wherever we can get it.in reply to: Miscellaneous #4433It’s a must to keep Jerry Brown out of the Governors seat.He will do nothing to help the miners in California out,his power lies in the people that have created the mess we are in.
We need to open 100 of our gold mines up instead of filling then in.I count three publicly traded companies that are producing and about ten that are trying to become producers.
Meg might not be best but she is a business women and will help get California working again.
Jerry Brown is part of the problem,always has been and always will be,please tell everyone you know to get out and vote for Meg and keep this blood sucking leach from bleeding us dry……..in reply to: Clips from Alleghany #4436That would be North Bay Resources,it’s mostly a drift mine following the old tertiary gold channels but does have some high grade quartz veins like the 16 to one.
The 16 to 1 is far more valuable.in reply to: Clips from Alleghany #4435I hear an outside firm has a deal to buy the nearby Ruby Mine and plans to start production by mid-2011.
Any local news?
in reply to: Clips from Alleghany #4432Not sure where they got “Ten” miners from. We wish! There are only three full-time employees and one part-timer working at the mine trying to reopen the 1,000 level.
in reply to: Clips from Alleghany #4431You can copy and paste this link into your browser’s address bar to see the footage. OR if you are on facebook there is a link on our FB page.
http://www.kcra.com/video/25385009/detail.htmlin reply to: Clips from Alleghany #4429Word is: Channel 3 out of Sacramento is sending a reporter to Alleghany today. Wish it was because of a big discovery. Maybe next time…..
in reply to: How to Approach Thin Veins & Cost #4428Thanks for the clarification “Lone Wolf”.
in reply to: Clips from Alleghany #4430Channel 3 did a good photo shoot in the 16 to 1 mine, good to see folks working the mine.
in reply to: How to Approach Thin Veins & Cost #4426Look’s like North Bay resources is going to be mining the Ruby Mine sometime next summer.
Take a look at some of the nuggets pulled out of the mine at
htpp://www.northbayresources.com/ruby/
This mine has had lot’s of money dumped into it recently,the amount of gold that this mine can and should produce is not even close to this companies mines.
As the price of gold climbs the public will become aware of just how valuable the Sixteen to One Mine is………..in reply to: How to Approach Thin Veins & Cost #4427Several years ago I purchased the library of a Canadian geologist that contained several publications on the Bralorne mine in the Bridge River district of British Columbia. This mine has some characteristics of the 16:1 including some highgrade, serpentine, mariposite and metamorphic wall rock but it is more like a Mother Lode mine than an Alleghany mine. Both are great mines with the Bralorne having produced over a million ounces. Other great mines of this type are Gympie in Queensland and Beaconsfield in Tasmania.
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