April 23, 2019 

Ideal Time for Facts


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 By Michael Miller

11/10/2005  8:39AM

Thanks Johnny Yuma. I think I will quote your last opinion for I believe it is obscenely valid. I'm on the road soon.
 By John Yuma

11/10/2005  8:05AM

The Barcus - McClung report dated October 1959 is a good report, but I do not see how it relates to the title of your talk. The bottom line is that when well financed and therefore able to invest in new technology, highgrade gold mines can be obscenely profitable.
 By Michael Miller

11/09/2005  10:04PM

I plan to mention the Mountain Copper report on the mine by Barcus and McClung. If interested see report summary under Correspondence from President dated 10/21/2005.

The report states, ďrather than taking 16 years to produce $8 million, it should take eight years.Ē The $8 million amount represents about 220,000 ounces of gold at 1959 prices. By calculating actual figures today, from our sales, those ounces would yield about $216, 600,000. Conclusion: high-grade gold mining in the Sixteen to One vein has high risks and obscenely high rewards. The risk/reward analysis that most people conduct before speculating or investing is a foreign process or not as common as the evaluation of the low grade gold producers.
 By John Yuma

11/09/2005  9:07PM

Highgrade gold mining today is like most other industries. In order to be successful you must invest in modern technology. A good example is the Beaconsfield gold mine in Tasmania. They raised money and invested in pumping equipment that pumps hundreds of gallons per second at low cost, a tripod hoisting system and a good exploration program. They now pay a 5% dividend. (www.beaconsfieldgold.com.au)
 By Rick

11/09/2005  6:27PM

Hi Mike.

Besides technology and gambling, (not to dwell on the challenge of all the obstacles of the past five years) there's the one reason you're still there, and the mine is alive.

Talk about the dream. It's why you're there, and why our hearts are.
 By Michael Miller

11/09/2005  12:54PM

Thanks for your interest and support regarding the talk to Western Underground Miners Association (WUMA). Iím also interested in hearing the speech, which means it is still in the preparation stage. Itís a provocative topic: a future as a dinosaur v. the cutting edge for a high-grade operation. If any of you have suggestions as to which we will become or why we will become either, type it here for me to consider. Maybe, your thought will be of interest to the Elko gathering this Friday and eliminate the dinosaur scenario.

Here are some thoughts: Extinction is a prime distinguishing mark between the dinosaur comparison. What will drive the last known high-grade mine to die? If the Sixteen were to die, it would likely have done so by now, but it could happen. Mining history relates how many times the goldfields blossomed and withered in California and western United States.

Liquidity, money, working capital for development and gold are basic factors to hold back extinction. It seems that some technological discovery or break through in exploration or beneficiation as well as social/economic conditions have fueled or throttled activities in pursuing gold. Sources for the fuels are diverse: investors, speculators, adventurers or gamblers. Maybe a high-grade mine will not suit an investor. The gamblers do not provide the stability necessary to allow the profitable exploitation of the mineral deposit. The speculators or the adventurers have the best track record of beating the odds that naturally play against all high-grade gold mining. SPECULATORS ARE INDIVIDUALS WHO OBSERVE AND ACT UPON MARKET SIGNALS.

Technology: the metal detection in a high-grade mine is successful. Letís go deeper.
Processing: high-grade gold is a sought after gem stone, demanding a high value over spot price.

So Johnny Yuma help me out with some pearls of wisdom to pass on to the Elko audience.
 By smithsgold

11/06/2005  11:02AM

I also would love to see some slides and be able to read your speech.
Good Luck,
 By John Yuma

11/05/2005  7:18AM

Good luck with your talk in Elko,Nevada next Friday night. Hope you will post a copy with slides etc. on the web site for all of us to read and enjoy.
 By Rick

09/24/2005  7:33PM

It won't be "This weeks hearing" as I last wrote, but it will be on October 19th, unless some other ungodly misfortune takes place.

Perhaps you've read my letter to Mike, the one in which I acknowledged why I discovered how George's and my passions were one and the same. I was delighted to see it, knowing it beforehand that it would be just the same face to face.

George, give me some guidance here.....

Okay. The clock it ticking away, and I have no idea what to do, except write. Write about how telling the truth works every time its tried.

Do any of you out there have any suggestions?
 By Rick

09/12/2005  8:59PM

This week's hearing will bring many truths to light. It remains to be seen how well truth is received and interpreted.

Yet I believe that truth works, evey time its tried. There is every reason to believe that it will.

We never know what spin will emerge from the ones who have the most to lose; in this case the criminals, our select group of elite public sector, non-representative, lost, CDAA.

Yet, given a fair ear, truth should prevail, and a bunch of worthless red-tape obstructionists will be shut down to their socks, allowing the pie to expand once again.

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