September 20, 2017 
 Wednesday 
 
 

Forum
Topic:
Technology

       

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 By SCOOP

03/15/2017  9:21AM

The Vancouver Sun reports in its Friday edition that programmable bacteria, a gold-sniffing camera and a virtual reality tool for taking investors underground were among the innovations on display at the Prospectors & Developers Association of Canada (PDAC) convention in Toronto.

A Canadian Press dispatch to The Sun says that some mining veterans believe that such innovation is badly needed in an industry traditionally resistant to change. "There's a lot of inertia in our business," said George Salamis, chairman of Integra Gold. "There's this mindset that, 'We've been doing this for 100 years, why would we change?'

With new blood coming in, that is changing. But change is slow." The mining industry has been on the mend as commodity prices recover from a protracted slump. The downturn made many executives more focused on pruning budgets than investing in technology that might increase efficiency. But even a small implementation of such products can have a huge effect on margins and operating costs. Think Sixteen to One mine and other mines in the forgotten California gold belt. Hello out there!
 By David I

03/09/2017  4:05AM

My thoughts have been echoed in the past by the federal reserve as well as congress, when I was a strong supporter for TARP, as well as Q/E.
 By David I

03/09/2017  4:02AM

Hi again Mike, I have already sent a letter to the White house about this thought. If they think it is a worthy thought then we will see some future action.
 By Michael Miller

03/08/2017  10:51AM

David,
What caught my eye in your last entry was the Federal Reserve role as a lender of working capital for the gold mining industry, thereby producing more American gold. This is exciting. Our Company welcomes a new source for adding miners, buying more supplies and equipment to attack the many realistic gold targets we know exist. The existing sources (investors, speculators, gamblers and money houses) are some of the biggest manipulators in the world. Real gold miners get their thrills from mining gold not making money. The distinction is large! Who runs the Fed reserve, what policies govern its behaviors and what are its member’s main business philosophy and practices are unknown concerns I have. To support expanding the power of the Fed, I need answers to these concerns.

Of all commodities that enjoy a public market (corn, lumber silver, etc.) gold is likely the most vulnerable to high flying manipulation. BUT, the players are few compared to the players in other commodities. Right now the March 2017 contract volume is 23; May volume is 158; April volume is 170,929 and climbing. Who is playing this money game and why?

The next concerns or reality regarding price are those mystical men who set the spot price for 400oz bars each morning for settlement in London. The market is truly global from the centuries of London based power (NY to a lesser degree). Futures exchanges, Over-the-Counter and bullion dealers add a factor of variables to the once stable gold market. Who will be influencing the Fed Reserve crowd?

I must mention one more group: the Pump & Dump crowd. They play mostly in the small cap stock market and will always be there looking for a quick buck. The concern with them and the Fed Reserve running its gold plan is: will the good intentions of capitalizing companies who actually will mine gold be recognized and separated from the companies that are mining bull shit!

Let’s examine what we want to accomplish and see if there are others ways as well. We want to strengthen our gold industry and our status with the dollar by producing more gold in the United States. I get it and am looking for a way to accomplish this with our small operation.

Our discussions are under the Technology heading, somewhat misplaced. Our industry awoke in the 1970’s with technological advancements still lasting today; however technological results for really high-grade gold mining have been stagnant. If we can take samples from the moon, if we can see photographs from distant galaxies, we can see gold in quartz beyond the current four feet distance. David and others, let’s keep this discussion alive and include technology as a component of fixing the gold mining issue, inflation and free market rules in pricing an ounce of gold.
 By David I

03/08/2017  5:03AM

Hello Mike,

To add to my message below: there would not be any requirement to sell gold to the federal reserve, except only where financing was provided by federal reserve banks designated for that purpose, and only until the principle is paid off. The gold would be sold at market value with a dedicated buyer to buy the gold.
 By David I

03/08/2017  4:23AM

Dear Mike, if I represented any thing that George Soros proclaimed, My message was not clear enough as to its intent. The book I was talking about was an advocate for returning to the gold standard, with the decline of the dollar as the victim and down turn in the economic welfare of our nation. So we need an activity such as mining in the United States to become an economic engine to help grow our nation. My plan I tried to bring to your attention was for The Federal reserve to create the federal reserve Gold Trust for the purpose to increase backing for the dollar held as part of a reserve in trust. This would also use this reserve to sell parts of reserves as a hedge against inflation, with out touching our gold at Fort Knox. The federal reserve would by gold with printed money, increasing the money supply, with asset gold held in trust. A certificate would be also awarded to the seller of gold with the price paid, noted on the certificate. The federal reserve would be ready made buyer for gold mined in America to stay in America. That when it comes time to sell gold for lowering inflation, the person holding these certificates would have first crack to buy the gold as long as they are US Citizens.
The reason the federal reserve would want ot buy gold is to create the inflation necessary for growth, Case in point was how our nation got out of the great depression, when the price of gold was increased from $20/ounce to $35/ ounce. Now the Federal reserve would purchase the gold by weight at the spot price on the London exchange on the sell and buy action of the purchase.
The federal reserve and our nation need to increase our gold reserve as that is what China and Russia are doing to become a threat to the dollar as the most secure currency in the world. So this would be an economic defense policy. Higher federal gold reserves would give competition for this continued duty of the dollar, as well as being a competing buyer for gold, driving the price up for both China and Russia. This would not restrict sellers of gold to sell to the federal reserve, except where the federal reserve backed loans to miners and mining companies to help with the mining industry to produce the gold, that a provision could be allowed that the mining companies could hold back a 10 or 20 percent of the gold mined, from required sales to the federal reserve until the principle of the loan is paid off. After the loan is paid off the the requirement to sell gold to the federal reserve would be eliminated. This would be a strong incentive to increase gold mining, with development of financing for the mining activity and creating new wealth for economy of our nation.
 By Michael Miller

03/07/2017  3:40PM

David:

Rethink this idea you considered in your entry below. It has an unpleasant history going back to the 1960's through 1974, when gold (its ownership and production) were governmental/politically controlled. Gold ownership is a very personal free choice. It should be.

Last month I learned of a financial writer from a shareholder. I wrote her and we have exchanged emails. Following is may last one to her. You may ponder my message to her.

February 27, 2017
Dear Kimberly,

It was a delight to open emails this afternoon and find a response from you. I wrote you on a whim and because of who you are or what you are doing with your life. I read the seven articles you sent and learned nothing new; however, I was disappointed that there was little to know how you think and write about gold mining. I am a proponent of gold mining, especially now and in the future.

Articles like the one quoting Mr. Soros, proclaim a falsehood. I’ve read this (not so correct statement) in numerous books and articles about gold. They write that gold has no intrinsic value in order to debase its value. If gold has no intrinsic value, why not write, “Gold’s value is only extrinsic, not essential”? The difference is subtle but, the why I am writing you now is not looking for subtleness.

None of the articles present the side of gold I want you to know about. I’m a gold producer. I can do nothing to influence the spot price of this commodity. I can increase its value with products and marketing but as far as promoting gold ownership or its avoidance is not a choice or possible. (Unlike most gold bugs or promoters I do want to return to the gold standard. Let the free market prevail.) I put no effort in speculating about gold’s spot prices.

Gold has intrinsic value. For some reason the opposite belief is a constant cry by anti-hard asset (money) value people. Why do you think this is so? Gold’s use in technologically driven products (electrical sensitive) is up. Jewelry (think India more that western cultures) is established and increasing as populations increase. But, again, this is not why I write you.

Speculations in investments or gambling can be made on any subjects. I have a well-known friend in Chicago who speculated on hurricanes years ago. I quit golf years ago but still go to his annual golfing, fishing and hiking get together in Idaho. I take my cameras. This group likes to bet on golf scores but one year I wagered a bet that one of the eight players would hit a house and got favorable odds. I won that bet. But, again, this is not why I write you.

Mining gold or producing any commodity has become most challenging. The trend is an actual numerical decline in ounces but more importantly in a larger percentage drop of the factors sensitive to a prospective mine operator (capital investment, speculation and safe or fair regulation enforcement). The uninformed have not grasped this economic phenomenon. Miners, the labor forces, are skilled workers and in California and the west declining in numbers. Mining, like logging, another fundamental industry under attack has a culture vital to the well-being of greater America. Why did Japan infiltrate China, the Philippines and attack the United States? The country is losing the mining culture, the infrastructure vital to be competitive in natural resources and the ability to fund our demands of manufacturing domestically.

Forty four years ago I was pondering where our social life was heading. I was a combined social science major, graduating from UCSB in 1965 with economics (major). I concluded that our leaders were smart to continue using up foreign natural resources because it protected ours for the future when other countries were depleted. It was about freedom and security. I no longer believe this is correct unless you advocate for large multinational conglomerates to grab these tools of freedom and security for themselves. This is why I write you.

I want you to become familiar with our industries in the BIG picture. I want you to see domestic natural resource production as an opportunity for others to aid America. Why? I believe that you write for the right reasons. America needs more miners working in America.
Sincerely,
Michael
 By David I

03/05/2017  12:10AM

Hello Mike,I have been reading a book by James Rickards, "THE NEW CASE FOR GOLD". I suspect that you may have seen it. It is about our need for inflation to raise the price of gold and combat our present recession.
I would like to present an idea about how to do this. I think the federal reserve needs to have a gold trust reserve where dollars are printed and traded for gold based on weight at the high daily rate of the purchase by the gold trust reserve, along with the dollars a certificate would be included with the purchase price for the gold. This would be away to increase the gold reserve. This gold reserve trust also would the capacity to loan to banks specifically for financing the mining of gold in the united states. With the requirement that all gold mined would be sold to the federal gold trust reserve until the principle of the financing was paid off.
 By Michael Miller

02/25/2017  4:42PM

MINERS ARE MEMBERS OF THE SKILLED LABOR FORCE.

Natural resources are materials from the Earth that people use to meet their needs.
Commodities are hard assets. Since there are so many, they are grouped in three major categories: agriculture, energy, and metals. Non-renewable resources are those that are used faster than Nature can create more.

The United States was blessed with an unusual abundance of seven natural resources. First, it has a large land mass that early on became governed by one political system. Second, it was bordered by two large coastlines that provided food and later ports for commerce. Third, it had thousands of acres of fertile land. Fourth, it had abundant fresh water. Fifth, it was once under a great sea which created the oil and coal. Sixth the climate gives it grand forests. Seventh the formation of the earth gave it gold. The geography and geology of the United States provided a tremendous comparative advantage in building our economy.

America had a huge head start thanks to its abundance of natural resources. In addition, it's governed by one political system, monetary system and language. America has two peaceful neighbors, Canada and Mexico. It doesn't have to defend its borders.

Where is the flim-flam ABOUT GOLD propagated? Answer: exploitation of terms and time. Proven gold reserves are where analysis of geological and engineering data demonstrates with reasonable certainty to be recoverable from known reservoirs. Only the gold that is commercially viable under current economic conditions is counted. Reasonable certainty means that either actual production or conclusive testing has occurred. Gold is not counted as proven if engineers are uncertain whether it can be recovered under current economic conditions or it's in completely untested areas.

Exploration and development must take place before production. Exploration has most risk. Most companies never get beyond exploration. Some make it to development and few actually get into production. This time frame is important because supply changes more slowly than demand For example, demand can rise quickly, but companies can't ramp up production as fast. When demand drops, it can take companies months to reduce supply. Unlike most industries, people outside the production side publish words. This has become the flim-flam of gold
.
A big difference occurs between supply in the short-run versus the long-run. Short-run supply depends on price. As demand rises, customers pay a higher price. Businesses will increase supply to gain the sales from higher prices until they reach their current capacity.

In the long-run, if the price and demand remain high, companies can boost supply. They have the time to add the workers, machinery, and factories required. The following factors determine long-run supply: Labor, Capital Goods, Natural Resources, Entrepreneurship.

Financial capital such as money and credit is used to buy the factors of production. But the ease of obtaining financial capital, whether through stocks bonds, or loans, plays a critical role in supply. Warning: In the professed bull market for hard assets ahead, challenge the flim-flam man.

Here are some examples of how U.S. innovations in capital goods created economic advantages.
• In 1789, Samuel Slater improved textile manufacturing. Eli Whitney invented the cotton gin in 1793. These made the U.S. a leader in clothing manufacturing.
• The invention of the Morse code and the telegraph in 1849, and Graham Bell's telephone in 1877, made communication faster.
• Thomas Edison invented a safe incandescent lamp in 1880. That allowed people to work longer and made urban living more attractive.
• Steamboats led to steam locomotives. They allowed private railroad networks to facilitate coast-to-coast commerce and development of the West.
• In 1902, air conditioning allowed migration to formerly hot areas and the ability to work effectively through the summer.
• In 1903, the Wright Brothers' invented the airplane, leading to faster air travel.
• In 1908, Ford's assembly line allowed mass production of affordable cars. That increased demand for expanded travel and led to the 1956 Interstate Highway Act. That improved shipping and a created a higher suburban standard of living.
• In 1926, Robert Goddard invented the liquid propulsion rocket. That gave the United States an advantage in defense.
• In 1992, metal detectors were tried and succeeded in finding gold in the Sixteen to One mine.
• When will the innovative capitalists/ entrepreneurs move the technology into the 21st Century?
 By Michael Miller

09/06/2014  5:25PM

Our crew received a spanking new pneumatic drill, one that is first in size for its exploration program. This drill looks like equipment the leading pioneers would take on any exploratory trip. Lewis and Clark had the best rifles at the time when they set out to find a waterway to the Pacific Ocean. The federal government, led by Thomas Jefferson knew the importance of uniting both of North America oceans. He gave Meriwether Lewis and open credit card and it paid off. That was 210 years ago.

Our new drill and necessary accoutrements were provided by other technology pioneers, not the federal government. For reasons that are partly unclear today, the federal governmental agency most active within the business affairs of California’s underground gold mines is funded in the Executive Branch administered by the Secretary of Labor. Not only is it unsupported of domestic mining, it continues an unwarrantable attack on the underground California gold miners, men just trying to eke out an honest living while adding to the national gross product…wealth.

How shall we reach those responsible and make them accountable? How do we tell and convince the Secretary of Labor's network that its failures hurt those whom it is lawfully required to protect? More on this will be forth coming.
 By Kit Carson

09/15/2011  4:55PM

Kit Carson rode over to his Nevada Lode claim, and took a very low tech look around. Amazing, in that I found myself in a canyon of Quartz. There were quartz veins at the surface everywhere. Brown, yellow, and orange quartz were observed. There were pieces of black granite streaked with white quartz. Quite amazing, beautiful, and a long way from the California mother lode. The veins even went over the mountain to the dry stream on the other side.
 By Kit Carson

09/06/2011  5:26PM

My horse was exhausted after the 19 miles ride up Ridge Road from hiway 49. Fortunately, my Falcon MD20 metal detector (with 300KHz) was a lightweight tool so we had the energy to ride out of Alleghany after the tailings were tested. Mike Miller said I needed a positive attitude, so when it started to wane, I turned up the sensitivity. I handed Mike a bag of false positives, hoping one or two might prove to have a bit of pay. It was a good experience, but I realized gold is expensive because it is quite rare. Let's hope my Nevada Lode is El Dorado, and Mike hooks up with an honest sheriff and also some cowboys with guts. Kit Carson is on his side.
 By martin newkom

08/29/2011  2:46PM

Good Luck with the new radar!!!
 By Michael Miller

08/29/2011  2:35PM

Sorry Kit, more data to analyze due to additional underground scanning, but your horse is still at large. Ride on over to the Sixteen to One so you can check out your machines in the mine. Give me a call.
 By Kit Carson

08/27/2011  5:29PM

One year and 4 months has passed since the last technology post. Any breakthroughs? The high frequency Falcon hobbyist detector seems to be successful. Any new technology horses for Kit Carson to mount and find gold in his Nevada lode?
 By Michael Miller

04/29/2010  1:56PM

Please go to the NEWS section of this site for a news release about our latest activities with Ground Penetrating Radar. Andrew Yeiser, who is a director candidate for the upcoming year, is leading the project. Shareholders will vote for directors at the June 26, 2010 annual meeting in Alleghany.
 By tedted

12/18/2009  9:29PM

To whom it may concern.

Available on the market metal detectors offer discrimination metals, mostly they select ferrous metals from nonferrous, with poor discrimination between gold,silver, copper or aluminum.
Recently I made discovery which allows me to build a prototype of metal detector capable to select gold from another metals. Experiments show very high reliability to distinguish that whether the target is a gold or another metal with accuracy of 99%. Prototype was tested with various metals of different shapes such as foil, flat metals (small thickness with large surface ) long rods, nails and so on, from different distance and angle. Experiments show that orientation and distance do not effect readings, and gold have own signature impossible to imitate by another metals. Prototype can detect gold ring from distance of 20 cm.

If your company is interested in licensing my technology, please don't hesitate to contact me. korted@rogers.com

Sincerely
Ted Korczak
 By Mark Wolff

10/12/2009  12:08PM

Recent successful demonstrations of long-range ore body detection using Induced Polarization means at high amperage are described here:

http://www.reuters.com/article/marketsNews/idUSN156191520090915?rpc=44

Akin to geo-seismic oilfield methods which produce detailed 3-D subsurface mappings, this technology has been used at smaller scale for years in that setting and in exploration at mines in Canada. A web-search on 'induced polarization' will yield equipment makers.

This might be a way for the 16-to-1 to locate some fresh targets beyond the range of metal detection techniques thus far employed!
 By Renegade

10/07/2009  10:41AM

As an owner of an Eastern Historic Gold Mine with large reserves and recent core samples of 1.126 opt at 96.5 feet below surface. I am looking for technology help in finding definition on the ore body(ies) without having to drill, drill ,drill.
 By daven

12/09/2008  10:42PM

Interesting reading. Talked with a company about Pulse Induction Metal detectors. They say about 15 feet deep. Un like radar witch needes to work down and is usless other wise. Works with Magnetometer. And is afforadable for mining.

http://www.accuratelocators.com/index.html

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