August 18, 2022 

How to Approach Thin Veins & Cost


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 By fredmcain

04/02/2013  5:32AM

Oh, Michael, wow! That's an awful lot of pages to try and read through! Are there any you can quote or steer me to first that would at least clear up most of my confusion?

I would like to say that I am probably going to do this. I realize that there is always a certain amount of risk to any stock investment but this one would be a really fun stock to own.

Fred M. Cain
 By fredmcain

04/02/2013  5:27AM


Oh, yes, I'm most definitely interested, that's for sure! First of all I would like to say that I am most happy to learn of your decision to stay with tracks. I think that is a very good idea if for no other reason that it is historically consistent and appropriate with your older and truly historic operation.

But the other thing is, I'm not completely convinced that all the enthusiasm in the mining industry for going "trackless" is well placed or at least not in every case. Perhaps there are instances where trackless mines make sense. But from what I can see, trackless mines that employ large, rubber-tired "wart hogs" to haul ore demand much larger drifts and passageways and consume much larger amounts of fuel.

About the only real advantage I can see for going trackless is that you do not have to make an initial investment in the track itself. But isn't track largely recyclable? So, I'm not sure.
From what I have been able to find, evidently there is still some interest in using tracks in large mines around the world. Here is a URL to an online article on the subject that I found here:

It is a British article but it still has some interesting information in it nonetheless. I hope that the Sixteen To One keeps it track system and expands it to new depths. I saw from your schematic that you are now down to around 3,000 feet. The Homestake Mine in South Dakota was down to 8,000 feet when it was closed and the Lucky Friday Mine in Idaho is currently digging down to 9,000 feet. So, the Sixteen To One has a ways to go yet. It sounds to me like this mine has a bright future. Keep digging!

Fred M. Cain,
Topeka, Indiana
 By Michael Miller

04/01/2013  5:53PM

Response to Fred regarding mines with track:
Our deposit is best mined using 18 gauge rail. Over the years track size has varied. It is identified by weight: 12 pound, 16 pound, 20 pound. The number is the weight of three feet. Prices vary. Our favorite is 16 pound but no company is rolling 16 pound anymore. We buy 20 pound now. Sections of the mine have the other sizes.

Most underground engineers have decided to abandon the rail system. A limited number of small California mines are operating with rail. There are over thirty mines of levels, shafts and winzes in the Sixteen to One. While some advantages exist to quit using track, it remains the best method of mining this unusual gold deposit.

Fred, your entry will be moved to the FORUM topic,How to approach thin veins. Your interest is appreciated.
 By Michael Miller

04/01/2013  2:50PM

Let’s take a breath and review the stock market and marketing of Original Sixteen to One Mine, Inc. Help will be found there.

I just entered FORUM topic “Stock exchange listing”, which I have not done in a while. Please do so after reading this entry. The topic began May 2002 (page #9). Read from early dates forward to page #1. Your answers and more are there. It is time well spent. Shortly this topic, “buying a share” will be moved to Stock exchange in order to keep our FORUM manageable as a custodian of information, useful information in friendly deployment.

Currently, there are no buyers (bidders) on the STOCK topic. Anyone may contact the company and place a bid (look at the instructions on the web site under (Stock). The Company does not charge a commission for maintaining this public book.

Many would like to know who the sellers are because the pink or gray markets deal with brokers, custodians (transfer agents) or those who hold their shares in street name. Many of our shareholders have asked the seller to provide a share certificate. I personally sign each share certificate, which goes to our transfer agent to fulfill a buy/sell transaction. There is no safer way to hold ownership in a public company.

After you have reviewed the Stock exchange listing topic and have unanswered questions, please let the FORUM know. There are sophisticated investors with shares and may provide you with expanded insight to the colorful markets.
 By fredmcain

04/01/2013  1:30PM


I don't understand this. The website shows a pending trade of $0.89 and yet OSTO shares are trading on the "Pink Sheets" for $0.20 each. How can that be? Is that the same company or a different company? Or, is it perhaps the same company but a different class of shares?

That sounds to me like a big spread.

Fred M. Cain,
Topeka, IN
 By fredmcain

04/01/2013  5:20AM

Does the Original Sixteen to One Mine still use ore cars and railway tracks in the mines?

Are there any other mines in California still doing that?

Fred M. Cain
 By fredmcain

04/01/2013  5:18AM

Is it possible to buy shares in the mine on an open exchange through a broker? The reason I'd want to do that is because I'd like to add the stock to my IRA if that's possible.

03/29/2013  10:23AM

Why would you not have it? The company has existed since 1911. You are responsible for your assets. If you bought it from a broker, ask your broker.
 By nathanmoose319

03/28/2013  9:25PM

If I had bought a share through middle school years ago. Would I still have it?
 By Michael Miller

02/26/2013  10:01AM

Yes! A class action lawsuit. You own a hard asset... a gold mine. A transfer should cost what is on our stock topic, about $25. The book work could cost ten to fifteen minutes and then a process of acceptable notification. The investment community knows that the volume of transactions created an impossible accounting nightmare. I believe that if everyone asked for a stock certificate for even the DOW stocks, the shortage of shares would be as high as 40%. Does that make American stockholders comfortable?

Go ahead and ask for your shares and let me us know the results. In the good old days, brokerage houses did this at no charge.
 By RyanBaum

02/26/2013  9:17AM

Brokerage fims have now moved to charging a substantial fee for issuing a certificate--often now as much as $500. Any advice on other means to take delivery of shares currently held in street name?
 By bluejay

11/27/2012  8:26PM

Brokerage firms today won't let you sell a security unless it is already in their possession. Not like the old days when you had five days to bring in the certificate to the broker. These rules were changed so they could hold your assets for as long as possible for their own interests.

The reasons no shares have been transferred is for a couple of reasons: either the firm that acted as the sellers broker had the shares in street name and bought them for themselves or the trades were a naked short sale and there are no shares behind the sale to transfer.

What surprises me is that the pawn shop atmosphere of the grey market didn't trade them at a fraction of a penny.

I know Mike doesn't like this idea but if it were for the word "gold" in our corporate name the shares would probably trade higher in New York.
 By Michael Miller

11/26/2012  1:00PM

Several processes are going on regarding stock certificates and safe deposit boxes. Most banks send notices to safe deposit holders when rent is delinquent. The times may vary but several notices will be sent before a box is cleaned out. The contents (inventoried and secured elsewhere) are held for seven years before the State gets involved. The bank notifies the State and the property is for default (to escheat). The State then holds power to dispose of the contents.

Our transfer agent has not received a request for transfer for these low selling shares. My question is, “How is the stock certificate transferred?” Someone must pay for the transfer: the seller; the buyer; a brokerage house that transfers it into “street name” and then sells it to a customer. This is why I always recommend taking a certificate for Original Sixteen to One Mine, Inc.

Our files have a history of certificates going back to 1911. While it is not an issue right now, short sellers must put up shares as collateral for the short (usually borrowed from another source). Over the years I have cautioned anyone from selling Original Sixteen to One Mine, Inc. short. You likely can speculate why. Like gold, a stock certificate is easily stored at home or office.
 By gary jeffres

11/23/2012  9:46PM

"If anyone can add light to this, please post you findings."

stock certifices left in safe dipost boxes over 3 years without any action by the holder of the box or part of estates that fall into the hands of the state of calif get sold and the state does not care if they get the real value for the stock certifices they will just sell them and put the money in a account till the money is claimed
 By Rick

11/21/2012  5:13PM

Mike, sure looks like its a youngster...maybe he'll use the $45 to go on a gold adventure...
 By Michael Miller

11/21/2012  2:29PM

I also have zero information as to why a shareholder would sell 300 shares for fifteen cents or $45. What would the minimum commission be? Does the buyer pay his broker a commission?

Until a couple of items are fixed, don't look to the Company to get too excited about any stock trades. There are very few small companies in the gold business that ignore promoting their stock. In fact that is what most do all the time. My capital in Sixteen to One is patient capital. I look ahead to better times. What in the world did the seller do with the $45?

Our issues will be solved, the sooner the better. Thanks, cw3343. I look at our stock market page once in awhile. Those sellers could have really scored if they checked our web site. A buyer stepped up with a $0.30 bid.

These trades interest me because I have never met a shareholder in thirty years that would treasure a few bucks more that a small position in this company. If anyone can add light to this, please post you findings.
 By cw3343

11/21/2012  11:58AM

RE the info below - Just to clarify, it was not me, and I have zero info on these trades - just posted so that people are aware of what is going on.
 By cw3343

11/21/2012  11:56AM

For what it's worth...
Recent trades:

11/15 2,550 at 0.20
11/20 7,225 at 0.20
11/20 525 at 0.18
11/20 525 at 0.18
11/20 300 at 0.15

 By RyanBaum

11/13/2012  1:36PM

First Northern is actually listed as "FNRN." Yes, they, too, are closely held and not wanting wide distribution of shares.

They, however, have ample capital and are content with their slow, steady growth.

I would recommend that OSTO consider some means of raising funds from shareholders via a rights offering or other mechanism. While OSTO has been willing to consider large block investors, none has come forward over the past several years.

Can we now utilize the small business exemptions for easier capital raising to go to current shareholders? Something like a new share for $0.25 for every 4 shares already held?
 By sambukhari

10/16/2012  11:15PM

The definitions of a word used in the general population and the same word is used sometimes differ miners. Exploration seems to work well for efforts to describe an activity ... to explore. In talc mining exploration aims to locate the presence of deposits and provides economic nature, shape and degree. Preliminary work in the mine exploration takes place along the strike and dip. This is done by disk, ups and downs. These openings follow the depositary both strike and dip. They are designed in such a way that makes use possibleness for mining exploration event that is favorable.

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Alleghany, California 95910

(530) 287-3223      
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