October 25, 2021 
 Monday 
 
 

Forum
Topic:
How to Approach Thin Veins & Cost

       

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 By Michael Miller

02/26/2014  1:08PM

Here is my response to the reports of share trades for pennies.

They are naked trades or sales between confidants. I find minimal reasons for anyone making naked sales. I find many reasons for someone “trading” shares at low prices: devalue the Company in order to gain an advantage; jealousy; force us into a compromising position and then come to the rescue.

Likely these people are familiar with the mine, maybe they follow the FORUM. I certainly don’t fault their game. Original Sixteen to One Mine, Inc. is the most undervalued gold producing company in the United States if these pink sheet prices are used to compute market value. I just reviewed the 11/07/13 trades. The pitiful game began at 12:40pm…18 cents. In less than two hours shares dropped to 11 cents (the ‘market value” of my company dropped $1,914,000). Wow! It only took four trades. Do any shareholders or readers with any knowledge of our mine and miners trust the truthfulness of these transactions? I’ll answer that. No.

My guess: if the buyers and sellers are actually working together, they are not existing shareholders. I echo the remark by cw3343 to the buyers: order your share certificate. I personally sign each certificate and they are all numbered. Remember that a seller must turn in his certificate before shares are listed for sale on the FORUM. Your thoughts are encouraged.

The French have a proverb “skeptics are never deceived”. A Latin proverb is “believe nothing and be on your guard against everything”. Nietzsche wrote “great intellects are skeptical”. I have a proverb. “Truth like gold rests at the bottom.” Oh, the total purchase/selling price to knock almost two million dollars off our market cap was $3,427.40. Wow!
 By cw3343

02/25/2014  3:19PM

someone bottom-fishing again today on the pink sheets.

whomever it is, order a certificate out if there is no cost.
 By fredmcain

12/09/2013  5:45AM

And here is a simlilar article focusing on track:

http://www.miningweekly.com/article/track-will-result-in-savings-on-rolling-stock-2004-04-02

Track will result in savings on rolling stock

By: elizabeth rebelo

2nd April 2004



TEXT SIZE





In South Africa, the total yearly tonnages hauled on underground rail systems exceed the tonnages hauled on surface rail systems by about 30%.

However, South Africa’s underground rail infrastructure is infamous for its water-related problems, lack of maintenance and poor haulage performance.

Tubular Track, a Pretoria-based company, has developed a ballastless railway system, which is used in both surface and underground applications, with rails that are continuously supported on reinforced-concrete beams.

To further consolidate Tubular Track’s position in the South African market, a black economic empowerment company, Afri Technologies, has been formed to install tubular track, with George Negota as chairperson and Alex Mzizi as MD.

Tubular track has been installed in mines in South Africa, Zambia and the US, says CEO Peter Kusel. The first tubular track was installed in President Brand mine, in Welkom, in 1989. The system uses standard rail and turnouts, which are consistently supported along their length by a concrete beam under each rail that is held in place by specially-designed steel-gauge bars.

The gauge bars consist of steel channels that are welded to steel gussets and straps. For underground applications the gauge bars can be dished to enable a continuous drain to be cast between two rails for the effective disposal of water, adds Kusel.

The system is designed to suit the prevailing geotechnical conditions that occur in underground mines.

One of the most significant benefits of installing this product in underground operations is that smaller volumes of material are required for the construction of the rail.

“Owing to the fact that the mining industry is predominantly a mining and tunnelling one, it is important to improve the efficiency of transportation,” says Kusel.

He tells Mining Weekly that, with tubular track, hoisting time is decreased by 70%.

An enhanced by-product of the locally-patented tubular track is the iMPi modular- section mine-track system, which has shifted away from in situ cast track to precast modular track and turnouts, says Kusel.

The iMPi system, which was developed about two-and-a-half years ago, has undergone intense analysis and testing at the University of Pretoria’s faculty of engineering’s railway division.

Extensive lifecycle testing also took place at the Spoornet track-testing centre. The iMPi system is being installed on an ongoing basis at various gold and platinum operations.

Africon Engineering International is the system designer, and the same consultant administers and audits the quality-assurance programme.

Africon’s contract manage-ment director, Terence Kelly, tells Mining Weekly that the company has installed an underground management system at Mponeng which is in line with the ISO 9001 standards.

Kusel describes the modular-track system as a technological improvement on tubular track, which can be installed in all mine railway applications.

Further, no slinging is required as the modular sections are loaded onto standard flatcars and transported to the site.

“This means that shaft time can be reduced by up to 85%,” says Kusel.

The product can also be in-stalled by mine personnel after training.

All installations are quality assured by Africon International Engineering.

As with most other new technology, the modular-track system is still facing some resistance in the mining industry, in which sustainable production and returns on investment are significant priorities.

Often, mining companies want to see the immediate benefits of new technology.

Kusel says that tubular track provides operations with long-term benefits, which include substantial savings on rolling stock, due to the design of the rail, which, in turn, reduces the total cost of the operation.

With regard to surface applications, extensive testing of tubular track for main-line conditions has taken place at the Spoornet track-testing centre over the last 18 months. “Because of the good results obtained, it is hoped that a number of orders will be obtained from Spoor- net and the SA Rail Com-muter Corporation,” Kusel reports.

A contract for manufac-turing precast modular 1:12 turnouts for installation and testing under coal traffic in Ermelo yard is under way, he continues.

“There is no doubt that tubular track is becoming, and will continue to be, a viable and popular alternative to conventional sleeper systems,” says Kusel.

Tubular Track was founded and developed by Kusel, the incumbent CEO of the company.

Kusel is a railway engineer who spent much of his career as a railway contractor on the coal line to Richards Bay.
 By fredmcain

12/09/2013  5:42AM

Group,

It's been a while since anything has been posted on this. Here is a piece from an online mining magazine. Although the focus is in South Africa, it clearly points out that in at least some parts of the world, mining with tracks is still important. Here we go:

http://www.miningweekly.com/article/the-status-of-underground-rail-transport-2000-06-23

The Status of Underground Rail Transport



By: System Author

23rd June 2000



TEXT SIZE





Transportation systems have been found to be responsible for 26 % of fatalities and 49 % of all reportable injuries within gold-mines, Robertson and Hitchins underground GM Neil Maslen tells Mining Weekly.

In addition, Department of Minerals and Energy (DME) mine equipment safety acting principal inspector Fred Wilmans reports that the Leon Commission of Inquiry into safety and health in the mining industry in 1997 identified haulage and transport accidents as the second- largest cause of accidents in mines.

“Within our hard-rock mining industry, rail-bound transport can be identified as the weak link, with the current utilisation level of locomotives and hoppers estimated at 28 %, compared with the 92 % level for vertical transportation,” says Maslen. He is disappointed with the status of underground rail transportation within South Africa’s hard-rock mines, specifically because railway technology had its origin within the underground coal-mining environment in the UK with great success.

Underground Railway Association chairperson Murray Franz maintains that there has been a steady decline in standards in South African underground transport since the years of high gold prices.

He believes that a general lack of regular maintenance is responsible for the dilapidated systems.

Similarly, he maintains that trackwork conditions, track installation and maintenance, communication, training and control constitute the most significant problem areas within underground transport systems. Maslen believes that the problem has developed because current management structures do not consider the logistical process with the same focus as the other two core mining activities; rock-breaking and mineral extraction.

In an initiative to solve these problems, Wilmans reports that a tripartite task group was established under the auspices of the Mining Regulatory Advisory Committee (MRAC) to revise the existing Department of Minerals and Energy (DME) guidelines for underground railbound transport, as well as the existing railbound Minerals Act regulations.

Such standards are necessary to ensure that the 37 000 km of track underground, as well as all the related equipment, is managed, controlled, maintained and operated in a safe manner.

Maslen is certain that established process-system management, coupled with superior standards of trackwork, will enable successful underground rail-bound lateral transport.

Furthermore, Maslen stresses that it is imperative to consider the important role of risk-assessment within the logistical process when considering the current situation with respect to health and safety.

In terms of the newly-promulgated Mines Health and Safety Act, it is the responsibility of mine management to initiate risk assessments, involving State, employer and employees, which will identify all potential hazards. Wilmans reports that the tripartite task group has submitted the draft guideline to the MRAC for comment and approval.

“This document, once approved by the Mine Health and Safety Council, will be issued by the Chief Inspector of Mines to the mines in terms of section 9(3) of the Mine Health and Safety Act,” he says.

“Draft legislation has also been forwarded to MRAC for approval, which includes proposals on brake performance, ratio of unbraked mass to locomotive mass, speed indication and illumination,” he adds.

“Progressive change is required in the form of a dedicated transportation management structure, responsible for all horizontal movements of people, material and rock.
 By cw3343

11/07/2013  12:12PM

Fred:
This is time and sales (was not me or anyone I know). Looks like you were the one at the end.

179 11/05/13 02:33 0.1100 5,340


178 11/05/13 02:33 0.1300 17,000



177 11/05/13 12:57 0.1500 3,000


176 11/05/13 12:40 0.1800 1,000
 By fredmcain

11/06/2013  4:15AM

Bought another 1,000 shares yesterday in my IRA with Vanguard at 18 cents. Right after I did it, someone dumped over 26,000 shares causing the share price to plummet to 11 cents. Go figure.

-Fred M.Cain
 By martin newkom

09/14/2013  2:15PM

Chas. Schwab grew up in Woodland
Calif. a sizeable Agric. town
north and west of Sacramento.
Most folks there and in Yolo
County speak very highly of"Chuck".When he started the
company his Number two office was not in New York or Los Angeles,Schwab established it in Sacramento, perhaps recognizing the values in Northern Calif. And the fact that one other firm, Dean Witter
had placed its Number two office
in Sacramento prior.
 By bluejay

08/29/2013  9:56AM

FYI

I have a family members who left Fidelity because the higher ups were doing uncontrolled insider trading.

I have personally met Charles Schwab on occasions and find him to be an honest and reputable man. That's where we have our account. My close friend was an officer of the company who recently retired and he has always told me, "Schwab is a great firm."
 By gerald vittitow

08/28/2013  1:14AM

thelast trade price is what people everwhere see as a share price you suggest i learn the basics. i have made a few trades this year and have made some money . how are you doing?
 By cw3343

08/27/2013  5:00PM

who cares how many offices Fidelity has and what their "price" is. That has zero bearing on anything.

To get the real current price, you have to work at a brokerage, or call a trader or someone with Level II quotes who can see the various bid/asks and what prices they are currently at. This changes often, even intra-day.

The last trade price makes no difference on an illiquid stock. Learn the basics of the markets/trading (or lack thereof) and it'll do you good.
 By fredmcain

08/27/2013  2:03PM

Could it be, could it just be that fear over pending litigation is impacting stock valuations? Those are the kinds of things that penny stock and micro cap investors look at when deciding whether or not to invest. If we could somehow, someway, just put the litigation issues behind us then I would not be the least bit surprised to see share valuations soar.

Regards,
Fred M. Cain
 By gerald vittitow

08/27/2013  2:25AM

i have three other listings at higher prices. 0.30 is double the price at fidelity which has offices worldwide with several officies in most states.people everywhere see the price of osto as 0.15 which is a small fraction of my cost if people who are interested in osto would buy a few shares maybe we could get some worldwide interest
 By jta3

08/26/2013  7:55AM

The broker price is pretty much irrelevant and why would you want it to be .30 and not .40 or .50 or 1.00? But it doesn't matter because, as we see a few times a year, there will be a transaction of say 300 shares for .01 or .10 or .20 or whatever and that will be the new broker price. The stock is not liquid enough, and there are too may bogus transactions, to worry about what the last "official" transaction price is.
 By gerald vittitow

08/26/2013  12:37AM

last sale at mine was .89 seller listing 1.25 the reason i offer to sell at .30 is to get exchange price to.30 which i consider pitifully low but it would have set broker price at .30
 By bluejay

08/24/2013  9:48PM

I'll clean you up at $0.20 on our marketplace in Alleghany.
 By gerald vittitow

08/22/2013  11:35AM

i have 7000 shares for sale at fidelity brokerage minimum of 100 shares at o.30
 By fredmcain

08/20/2013  1:59PM

Actually, I have been toying with the idea of buying another 1,000 shares in my I.R.A. The only hold up is that I need to send in a check to cover the investment. I just haven't had the time to get around to it.
 By gerald vittitow

08/20/2013  1:03PM

i have 200 shares for sale at fidelity stock brokerage if someone could buy them it would raise share from 0.15 to 0.25
 By fredmcain

07/26/2013  9:31AM

Group,

I belong to a different underground mining forum where we have also been discussing “mines with tracks”. One guy from Canada responded stating that there are a number of Canadian mines still using rail. Among them are the Dome Gold Mine, Kirk Lake Gold also has a rail mine, “Xtratra’s” Kidd Mine and Goldcorp’s Hoyle Pond Mine.
The forum can be found here if anyone is interested:

http://www.ironminers.com/mineforum/index.php (you will need to copy and paste that address to your browser.

The forum also had gobs and gobs of beautiful color photos taken in underground mines – many of them abandoned. I might also add it was from that forum that I first learned about the Original Sixteen To One Mine.
I truly believe that the forum is worth checking out.

Regards,
Fred M. Cain
 By fredmcain

06/14/2013  4:11AM

Michael,

I wish you the very best with the meeting. I only wish I could come. My thoughts and prayers will be with you nonetheless. Hopefully I can come next year!

I hope you are able to give us a full rundown of the developments at the meeting on the forum.

Best Regards,
Fred M. Cain

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