October 25, 2021 
 Monday 
 
 

Forum
Topic:
How to Approach Thin Veins & Cost

       

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 By karld

10/03/2017  8:19AM

My new purchase is only 1000 shares, at a cost of $64.95, including commission. Not worth paying for a certificate! I don't know who bought the othet 17K shares. (9000 more shares were just traded today, at 8 cents. It wasn't me!)
 By Michael Miller

10/02/2017  4:56PM

Thank you for responding. I also have a Schwab account with Sixteen to One shares but most of my shares are with certificates in my possession. How did you execute the order? I will buy the remaining 17,000 shares at six cents with a big smile on my face.

What was the commission?

I'll place the order and also ask for a certificate. It really shouldn't be very expensive, maybe $40.00. This is no joke. If you want to write me instead of using the FORUM, my email address is:mmeistermiller@gmail.com.

Please answer at your very earliest convenience. The $1,020 is hot to trot to the seller.
 By karld

10/02/2017  8:43AM

Michael, I'm happy to see that you're willing to add to your holdings! I only got 1000 additional shares ($60) and they're sitting in my Schwab account. I don't think they make it easy to get a certificate, and it's not much money, so I'll "pass" this time. Thank you! (If I bought all 18,000 shares, I'd research getting a certificate!)
 By Michael Miller

09/29/2017  2:50PM

Congratulations on your purchase (see below). I'll buy them from you for a 300 percent profit right now. Do you have a share certificate?
 By karld

09/29/2017  9:35AM

18,000 shares traded so far today at 6 cents. I bought some of them.
 By cw3343

08/25/2017  1:01PM

Oh wow - that is not the record low, but is still pretty low. Today's trade, someone picked up a fat 6000 shares for $6, or $0.001 per share.

Unbelievable...
 By fredmcain

07/11/2017  10:09AM

MOLLIE KATHLEEN MINE

Group,

Although I still haven't quite made it to California, we were in Colorado last week for a tour of the Mollie Kathleen Mine. It was beyond awesome. I had my first "cage ride". Over 1,000 feet down AND an underground train ride!

Our tour guide demonstrated a lot of mining techniques and how they work. In the beginning they mined with candles. Our guide turned out the lights and showed us how that worked. Pretty dim! It's a wonder that not more people got hurt than did.

He also showed us how they set charges and removed the muck. It was hard for me to believe that they could actually get a mucker in the cage so I asked him if there wasn't an adit portal somewhere. NOPE! Only one way outta there and everything we saw down there came down that way!

I saw a lot of abandoned rails lying in adjoining drifts. I wish I'd thought to ask if they might be for sale.

Another observation was that there was no water and no pumps even at that depth. Remember, the elevation here at the surface is nearly 9,000 feet. You have to watch not to move around too quickly at that altitude or you will get light-headed to say the least.

I recommend this tour. The Original 16 to One is still at the top of my list, though. Too bad it's so far from Indiana! :(

Regards,
Fred M. Cain
 By fredmcain

05/11/2017  12:17PM

Group,

I found an interesting article that fits in with my sub-subject on this thread "Mines With Tracks". It's a few years old now but worth reading. I have said it before and will say it again: I do NOT understand the supposed huge advantage of trackless mining.

Here it goes:


"Rail cars have long held a close association with mining. In fact, when looking back at movies or cartoons where mining is represented, there’s likely a bunch of open-top mine rail cars somewhere in the picture.

Rail-Make
With the development of trackless machinery, however, a decline in rail use for mining has created a small disconnect between the popular image of labyrinthine mines lined with rail cars and how mines are evolving in reality. Rail took a backseat as low, stubby, purpose-built mine utility vehicles became more commonplace.

According to some experts, however, that trend might soon be reversed. Talking to Mining Weekly, Attie Claassen, contract manager for the South African railway and civil engineering contractor Loning Hill Properites, expressed this opinion:

Underground rail networks used to transport mined materials may be poised for future growth, owing to the high cost of trackless machinery and other alternative transport methods.
This shift in perspective comes as a result of a better understanding of the expenses associated with using trackless machinery. While many mines in South Africa attempted to make a push to establish trackless mining in the resource-rich country, the issue of cost quickly became too much to overlook. This has led some mines to consider reverting to the proven technology of rail haulage.

According to Claassen, “a correctly installed rail system has been proven to far outweigh its initial capital investment, and is, therefore, ‘the way to go’”.

Added to the proven advantages of underground rail networks, advances to the design and manufacturing of different underground rail cars have made reverting back to rail even more desirable.

Despite a decline in popularity, manufacturers like Wabi Iron & Steel Corp. have kept up their rail haulage manufacturing and development processes. The improved rail car technology that has resulted competes favourably versus trackless machinery in terms of cost, reliability, productivity and durability.

As the advantages of rail haulage continue to make their way back into the spotlight, it’s likely that the prospect will keep looking golden for the tried and tested mine ore car."

Here is the URL but you will probably have to copy and paste it into your browser:

http://www.wabicorp.com/prospect-looks-golden-mine-rail-cars-due-rail-advantages/
 By fredmcain

02/13/2017  9:41AM

MINES WITH TRACKS

Group,

I thought I’d do a post on the sub-heading of this thread on mines with tracks since it's been a while since we talked about that. To be honest, I have been kinda M.I.A. for the last 20 months or so.

As many of you know, many if not most underground mines have abandoned the use of rail vehicles in underground mining in favor of underground, rubber-tired "trucks".

I am still not sure I understand why. I understand that the rubber-tired vehicles are much more flexible. That makes sense to me. I also understand that the maintenance departments no longer have to be constantly ripping up and relaying track as veins and deposites change. Sure.

But the rubber-tired machines also demand much larger drifts and passageways. That would seem to me to largely overwhelm any cost savings from using them.

Could it be that trackless mining has simply become "the thing to do" causing companies to shy away from mining with rail? In spite of it all, there are still a few mines (like the 16-to-one) that continue to rely on rail.

I hope that continues.

-Fred M. Cain
 By fredmcain

02/09/2017  8:53AM

CW,

I'm a little surprised. I woulda thought that a "junior" miners fund would include such "microcaps".

Are there any funds that do?

Regards,
Fred M. cain
 By cw3343

02/03/2017  7:47PM

Fred - this company's shares are not included in that ETF. That ETF has various criteria for the components/holdings. Among these are minimum share trading volume requirements that OSTO does not even begin to get close to. The ETF provider has to use stocks that have a certain amount of liquidity so that they can meet redemption requirements without pushing the value of the underlying shares down substantially.

I do not see any ETFs, ETPs, or mutual funds that currently hold any shares of the mine.

Perhaps Blair Hull could buy it in his own ETF? He owns enough shares to be a market maker. (I am just kidding, as his ETF does not invest in individual stocks)
 By fredmcain

02/03/2017  8:50AM

Here’s a stock-related question: About a year and a half ago, I bought some shares of a so-called “ETF” (exchange traded mutual fund) known as Van Eck “Junior Gold Miners”

Now for the question: Is the Original Sixteen To One (OSTO) included in this ETF’s portfolio? And, if not, why not and can we do anything about that?

Regards,
Fred M. Cain
 By cw3343

02/02/2017  5:37PM

Shares rallied today, up 50%, from 4 cents to 6 cents!

(posted for informational purposes only. I have no other facts or opinions to add regarding this.)
 By Michael Miller

12/23/2016  12:07AM

Americans are becoming aware of the extraordinary expenses placed on small businesses due to questionable regulations and their enforcement. California and federal governments are guilty of valueless yet punitive standards and the execution of regulations by feebly qualified governmental workers. These are true and factual realities capable of proof at the Sixteen to One mine. I meet those whose job it is to enforce regulations. Some are reasonable but claim that the higher ups are the ones dictating how to regulate. Too many seem to enjoy the powers to run over the small operators, like us. It is an epidemic.

You probably have read that there is no underground gold mining industry in California. You know that the Sixteen miners are the last full time mining crew still employed. Can you guess what rate our Company is charged for the required workers compensation insurance? Go ahead and write down a guess. The rate is calculated per $100 employee income.

Insurance is a statistical numbers game. I have battled the rate setters with no results. Since there are no operations in California like ours and the private insurance companies don’t touch California underground gold miners, we are forced to buy the requires insurance from California State Fund. Since July 23, 2013 to November 22, 2016, our company paid State Fund $170,972.91. For what? How was our rate established? Is ours high risk?

There were no claims during that time period. Historically, there were no claims in the 21st century for workers comp insurance (accident or injury). We have four classifications: Mining underground (1123-1 code number) base rate is $68.51 per hundred; Mining Surface of underground mining 1124-1 code) base rate is $23.90; Jewelry mfg. (3383-1 code) base rate is $9.01; Clerical office (8810-1 code) base rate is $0.99. All amounts are for each $100 of pay.

Many followers here are interested in real mining, not blue sky hype. Ponder what a gold miner in California must experience. Here is what will help. Find an insurance carrier to cover underground workers compensation now. As our special niche grows in the important global economy in the coming years, all of us will need a better way to provide the required employee insurance. Workers comp is in addition to all the state and federal payroll taxes. Gold mining is not for the meek!
 By SCOOP

12/06/2016  2:24AM

The stock wizard that ordered the sale of those 10,000 for ten cents a share lost $2,125. Check the bids on the STOCK topic. No comment!
 By cw3343

12/04/2016  2:16AM

I noticed the other day a block trade, which was the only trade that day, I think 3 days ago - 10,000 shares at 0.10

I have no information, this is just an FYI.
 By Michael Miller

11/01/2016  4:37PM

More information about the time stamp mentioned below.

If you live in Hungary, the time of posting on the FORUM is actual time. If you live in California as I do, it is nine hours different. So if you are in Chicago, it is seven hours. Sandor Holly, past director, is Hungarian and wrote me last night with the explanation.

Hans, I look forward in receiving your report, email is best. Where have all the spirited, adventurous and speculating capitalists gone? Our under financed operation became tediously old after the 2007-2008 financial collapse; however, few junior gold producers remain. We have.

The pattern of operating the Sixteen to One has a solid history going back over an 100 year history. We’ve blown that pattern and have been outside its proven success the past ten years. Last year was profitable, which is certainly better than a loss. What bothers me is the knowledge that the mine has many areas with positive evidence that mining them will bring forth one of those 5,000 to 10,000 ounce concentrations. Eight locations stand out. This means we must increase our crew. When we do hit a pocket, the result will be rewarding.

While more sophisticated technology for detection remains elusive, the Australian Mine Lab detector, which we bought last January has led the crew into new gold. We know it has increased the depth of identification. This means that most of the exposed vein with favorable geology and history must be re-examined. It’s a big vein system with miles of exposed vein to reexamine.

Economically speaking, the dynamics of scale of mining is working against us. We need some cash to buy more labor! We need a crew in each of those eight lip smacking underground areas of high probabilities. Even today, though, our crew can open up the right ground to mine several thousand ounces. We have done this before. Lady luck likes an honest gamble.

Our story is rock solid and appealing to anyone thinking about the future of gold. Pundits are speculating for increasing demand of gold in the coming years. We are doing okay with current prices but any increase helps. Most people with risk capital or excessive wealth must think about gold but shy away. Gold is a tricky asset, but then again knowledge is power. Original Sixteen to One Mine, Inc. shares the top tier with few companies owning under developed gold assets. I can prove it.
 By Hans Kummerow

10/31/2016  7:48PM

I have done what Mike has suggested to do a few days ago - I have reviewed the entire thread.

And now I have just finished doing, what I had suggested to do about 18 months ago.

I have drawn up an action plan for Origsix to pursue in 2017. It is not ready yet to be posted on this FORUM.

But I will send it to Mike for further review by himself and the Board.

Hans
 By Michael Miller

10/28/2016  12:43AM

Good afternoon to all of you. The time stamp on each Forum entry is nine hours ahead of reality no matter where you live. See the topic Clips from Alleghany. It says 12:00am October 28, 2016. California time of entry was 3:pm October 27, 2016. Love these computers!

Our web master lives in Hungary. We are experiencing difficulty in reaching him to make corrections. We’re working with a California firm to upgrade the website.

This morning I reviewed the FORUM topics and thought about moving this topic to Miscellaneous. I scrolled to the first entry by Hans Kummerow, who started the whole thing on January 13, 2915. I read his original thought, my answer and found it interesting enough to continue reading each entry to Gerald’s on March 22, 2016. I liked Hans’, Fred’s and Gerald’s thoughtful participation and decided this topic must continue. If you have a few minutes, please do what I did.

Hans now has an exclusive right to buy Sixteen to One quartz/gold for Europe. He has made proto types of jewelry and will be showing his intriguing designs tomorrow at the big gemstone show in Munich. He will be there on Friday, the pro-trader’s day. Hurrah for the effort. The Sixteen to One gemstone is in the class of rarity. To my knowledge Europeans have never seen it. Hans’ jewelry made pieces with a look never before created. They show the California gemstone as it has never been portrayed. Neither of us expects quick success but we expect success.

Hans, Fred, Gerald and I left this conversation wondering how to reach the right person to join us. The objective is to mine a lot of gold that likely exists beneath the ground in Alleghany. No one believes that the old timers got it all. Technology is a key but so far no one has developed the tools to help this high-grade mine. Adventure capital increases our success and diminishes the time to achieve success. Success is measured in a gold dividend and and increase in share value.

Where is that person or those people to hear our story? I
 By Hans Kummerow

07/05/2016  1:10PM

Mike,
I have sent an E-Mail to the corporate office before the Brexit Vote with three bids to buy 5.000 shares each at purchase prices of 0.15, 0.20 and 0.25 $.
Could you have these offers posted on the company website please? Thank you.

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