August 18, 2017 
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Forum
Topic:
Miscellaneous

       

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 By bluejay

11/19/2004  8:10AM

The following was supplied by Newmont Mining under its Royalties Section on its website at http://www.newmont.com.

Oil and Gas Royalties, Canada

Newmont has royalties of 1.8 million acres(0.7 million hectares) of producung and non-producing oil and gas lands in the Western Canadian Sedimentary Basin and the Canadian Arctic. Producing royalties include the Edson area of Alberta operated by Canadian Natural Resources Limited, the Weyburn Unit in Saskatchewan operated by Apache Canada. Production from these three areas is 647, 330, and 195 barrels of oil equivalent per day, respectively, net to Newmont.

Royalties on these lands are either overriding royalties, based on oil and gas production and are free from operating capital costs, or are working interests, in which the Company is liable for its share of capital and operating expenses in return for its share of revenue and earnings.

One of Newmont's 100% owned non-producing assets is its Alberta Heavy Oil project. Newmont has a 7,680-acre lease that is within the Leismer Athabasca Oil Sands Field, located adjacent to Encana Resources' Christina Lake Thermal Project and Devon Canada's Jackfish project, both of which are steam assisted gravity drainage projects with an estimated 3 billion and 500 million million barrels of oil in place, respectively. In 1Q 2004, Newmont completed this year's $3.7 million exploration drilling program at its Alberta Heavy Oil project that was designed to quantify the potential resource.

Newmont also has a 9% non-operating working interest in the Hecla and Drake Point gas fields located on and offshore of the Melville Island in Canada's Arctic region. Those fields are the largest ever discovered in Canada but their geographic remoteness has, to date, prevented their commercialization.

Oil prices have been weak lately and are oversold as compared to gold's current price. Dan Norcini of Houston Texas has predicted new highs in petroleum prices in the months ahead. Possibly with higher oil prices on the horizon, Newmont Mining will surpass its troublesome chart area of 50 and breed further public confidence into the other gold mining companies with its performance. Newmont is currently the biggest producer of gold in the world and widely followed by investors as the bellwether for the whole group.
 By SCOOP

11/12/2004  2:40PM

Carefully. This company takes extra care in establishing the provenance of the quartz and gold that may qualify as a specimen. The date and location of the high-grade is recorded when the ore it sacked and sealed underground. The rough product is classified, weighed to record gross weight and gold content. No identification is done for “kid” rocks. These are chunks of various sizes, which are priced below $100. This process dates back a dozen years when the early success of gold detecting uncovered gold signals throughout the miles of drifts and stopes.
 By joedirt

11/12/2004  7:44AM

How do you find and take out the gold specimens that you find while you are mining?
 By gfxgold

11/02/2004  1:45AM

They seem to have good intentions on the surface but, so did the CDAA. Go to: http://sfbaykeeper.org/Deltakeeperlinks.htm
 By Rick

11/01/2004  6:21PM

Maybe this entry can achieve a Google search result when people type in fraud. I'll repeat what I wrote on the previous OAU Forum page:

"Please help me out here, Delta Keepers. What are you suggesting that we keep by stopping California history from debunking your axiom?"

Really, I can't wait to hear, because if it's something worthwhile, I'll be the first to step up to the plate and support the effort. Seriously. So please tune in here and tell me.

Otherwise, I have to deduct (not infer, and you should know the difference) that your attempt to pretend, and therefore, regulate therefore through litigation regulate and then therefore with a supposed imbedded-heretofore-gimme-gimme-political-justification-for-your existing present opposition somehow make your point.

Times are changing; history means things. Please don't try to change it as you would a stream.

As I said, I'd love to read, hear, and embrace a worthwhile reason for your opposition.
 By gfxgold

07/17/2004  10:22PM

Hey Mike! I heard a rumor Friday night. Is it true?
 By Dick Davis

06/24/2004  2:28PM

Sorry, you took my message as an insult or joke. That was never my intent or thought.

People explore Florida's beaches with metal detectors searching for treasure and I just suggested Mexico for the same reason. You mentioned your Dr. who prospects in Arizona, that's what made me think of Mexico. I've been to a lot of old abandoned haciendas in Mexico and many have been torn apart by people looking for hidden valuables. And I doubt if the people looking had a metal detector. You'd probably at least find bits of history like the people who search Bodie, California.

This is an Open Forum, not all replies come from the 16:1 miners. I'm just a guy that likes California history and hopes that this last connection to underground mining history continues.

I had cancer 9 years ago. Upjohn used me as a guinea pig and provided experimental treatment. As a group the treatment did not prove superior, but it worked for me and they paid the bill. I hope your treatment is successful.

I'll be more careful with my comments in the future.
 By Cancer Patient

06/24/2004  8:26AM

name's dick eh?...just plane old "Dick"

look, this post wasnt ment to be a joke. looks like i got just what i expected from a dumb hard headed rock miner who has noting else better to do with his time than to be a jackass and make fun of people. i hope your 1000 feet in a mine and the thing caves on you, and you get to smother to death and die slowly from lack of oxygen before they can get to you.

doesnt make any difference though if you mine or not. for your rude and azzholish comment, im going to have my old gypsy grandma put a hex on you. i bet you dont last 3 weeks now. think its a joke...we will see i guess.
 By Hoop235

06/22/2004  11:56AM

Thanks, that's what I needed to know and good luck!!
 By Dick Davis

06/22/2004  9:19AM

I think Mark needs to know that OAU is Original Gold. O= original, AU= the chemical symbol for gold.
 By Rae Bell

06/22/2004  8:24AM

In repsonse to Mark Hooper's question about OAU. OAU was the company's ticker symbol when the stock was listed on the pacific exchange.

The geometrical pattern is a design Mike came up with several years ago.

I enjoyed your visit as well.

Take care.
Rae
 By Dick Davis

06/22/2004  1:32AM

Take your Gold Master to Mexico. Wave it over every abandoned hacienda, convent, and church that you find. Dang, you'll have a good time.
 By HarlanW

06/21/2004  1:32PM

Mike-
Thank you for responding to my recent posting on the 16:1 forum. I would like to set the record straight concerning some of your comments.
1) Like you I hold a University degree in Economics
2) As a director of the Wittkopp family mining and Exploration Company (Mountain View Exploration) I am an indirect 16:1 shareholder.
3) I am very familiar with the gold mining industry having attended many recent gold investment conferences sponsored by more than 150 mining companies.
4) As a stockbroker, many of my clients were goldbugs.
5) Having worked with and for my dad during 11 summers in the field I am very familiar with the geology of gold.
6) I am very familiar with the mining of gold in the Allegheny district, having followed my dad through the Oriental Mine many times during his 20-year association with this property. I first went underground at the age of four.

Harlan
 By Hoop235

06/21/2004  11:54AM

Hello from Tennessee,
I was at your museum on May 30th during a visit to the CA gold country and purchased a gold w/quartz heart pendant. Everyone here loves it because they have never seen such a "diffrent" piece of jewlery and were're telling all of them where it was purchased. Rae was very helpful and we really enjoyed our visit. We picked up a couple of tee shirts with the OAU logo on it but were're not sure what the OAU stands for or the symbol that goes with it. If possible I would like to know their meanings. Thanks and good luck aginst the political machine. You could be just two feet away from a Million!!!!

Mark Hooper
 By Cancer Patient

06/21/2004  11:07AM

hello. im hoping someone here can help me. im a 2 year cancer patient that has always had a small interest in mining. recently, while visiting my Dr. he suggested i get out and get some exersize to help build my strengh up a bit. he suggested electronic prospecting as he and his wife do it somewere inAZ once or twice a year. he also suggested looking on the web for places to go. some nice folks here locally all pitched in and bought me a used goldmaster metal detector. i havent the foggiest idea of were to use it, so i was hoping that with all of the experiece that ev eryone has in this area here, somene might be nice enough to point me in the right direction on were to go were i might find alittle something, or possibly someone here might be nice enough to let me tag along with them and give some instruction on using this thing. any help you nice folks can give me would be greatly appreciated
 By GPT

06/21/2004  2:47AM

Hi Crush, what are you suggesting? If I knew for sure there is genuine interest I would certainly consider it. Alternatively I could scan a current map which I have dowsed and send it to you, as a demonstration. Regards Geoff
 By Crush

06/20/2004  8:02PM

Geff, why dont you just come up to the meeting?
 By GPT

06/19/2004  10:20PM

Hi, I'm Geoff: several years ago I made an interesting discovery while water dowsing. I found I could also dowse for gold. I am a gold miners son, grown up on the goldfields of Western Australia, and am now living in the city working for a world leader in laser eye surgery machines. But my interest has never left that I could put this ability to use if some one was keen for me to give a demonstration for them. I excell at map dowsing, creating an intricate discription of the gold within an anomally. Especially beneficial for exploratory maps. If any one is willing for me to give them a demonstration, I would be only too happy. Kind Regards Geoff Peart-Tang
 By Michael Miller

06/18/2004  8:59AM

Responce to Harlan,

It is always nice to have people participate on the FORUM, even if they are not shareholders, have little familiarity with the mine and are not students of the gold mining industry. Your submission is somewhat mind-boggling, since you are a former stockbroker and the son of the Company’s current geologist. Your dad and I go back a long way. We have spent many hours underground, talking about the various ways to find and extract the gold from the properties owned by the Company.

The Sixteen to One is one of the most concentrated free gold deposits in the world, along with other mines in the Alleghany Mining District. Our mid range plan (which your dad and I developed together) is to sink a new shaft somewhere on the Red Star claims. It will open up the proven areas in the north, which are not practical to mine from the existing workings. It will also open up a very attractive placer area, which makes anyone familiar with the “Blue Lead” blood boil with lust. It will also open the way to property our company bought 64 years ago. When this new shaft is driven to the old 250 level, the long-term future of gold production will be secured for the lucky heirs of OAU stock.

The other mining companies you mention operate primarily outside the United States. They are good companies, and I have owned shares in each of them in the past. I liquidated them because the Sixteen to One shares offer a superior gain potential than those or most others I have researched. I blundered with Ivanhoe and hold 10,000 shares at a substantial loss. I was betting on the promoter and ignored the underlying value and other important points to evaluate before buying into a position.

I cannot really comment on the other opinions you express. Why? First, they are topics beyond the normal corporate scope of discussion. They are not material or significant either in terms of dollars or impact or relevance. Another reason I cannot comment is because I just do not see the Company as you do. What mess? What current problems? We only lack some working capital, which is a top priority for us to obtain on mutually agreeable terms.

You bring up a very good point regarding corporate damages the owners suffered due to the activities of CDAA et al. Since you see the company in “such a mess”, you could be a good witness to substantiate damages of $24 million or only $2 per share. Since you recognize that the company fell behind the share appreciation of other gold mining companies and since evidence will be given at trial that my efforts of raising capital were thwarted due to the charges of murder and willful negligence against the company and its top management, damages of around $2 per share are reasonable and justified.

I admit that running America’s oldest gold mining company and the longest and perhaps the last commercial, traditional hard rock mine in the continental United States may have future problems. We can handle whatever is thrown at us because the human resources available to me are far superior in intellect that any misguided opponents. Recently I had a conversation with someone about the trials and tribulation of our work. We agreed that compared to the men who worked for and held the mine and company together from 1954 to 1974, our task is much easier. There is no doubt about what this company is. We are gold miners. A $24 million judgment equals a 60,000-ounce pocket. We are gold miners with more than one working face. As discovery begins, we will learn about the financial capabilities of the five defendants as to collecting the judgment.

Finally, please talk with your father, who is a shareholder, a solid geologist and a knowledgeable friend of the company about your concerns. He and I agree that is how you should treat this matter.
 By HarlanW

06/16/2004  10:05PM

Mike-

As promised in my earlier correspondence, here are my questions for you. I’m sure many forum readers as well as stockholders would be very interested in your answers. Please answer thouroughly each question.


1) Please list the number of ounces produced, cost of production per ounce, and sale price (average) per ounce.

2) On page 8 of the annual report, “Salaries and wages decreased do to the involvement of accredited miners becoming independent contractors as participants in a lease with the company.” What is the nature of the lease? How much do the miners pay the company? What if anything except the mine does the company supply? Don’t you think the shareholders should be supplied with a copy of this lease? If the miners do pay the company, where is this on the company financials?

3) Please tell me what in the past five years you have accomplished as the president of the 16:1.

4) You tout on your website your past Board of Directors but are short on qualified mining savy people as directors now, you are constantly getting fined by regulators yet haven’t paid any of your past fines for years, and you still have not been able to obtain new investment in the company. What is your plan to change, not only to stay out of future trouble, but to get your credibility back. How could you expect any new investment from qualified investors with the company with the current problems?

5) On page 3 of the annual report, the company has set aside the funds to install a passive water filtration system to eliminate or reduce low levels of arsenic in “surface” water. What about the mine water? How much has been set aside and when will it be completed? If these funds are set aside, where are they on the company financials?

6) Your complaint for damages against private lawyers and the California District Attorney Association: Can you prove damages of 24 million dollars? Explain how you came up with this number. In your letter to shareholders, you state “The financial balance sheet remains basically unchanged which in light of disruptive influences of the past, I view as positive. If you do win, do the have the assets to pay you? What do they have that is worth 24 million dollars? Are you a mining company or are you a litigating company?

7) Why do you list income from the price of gold going up on your balance sheet? Are you sure this is valid?

8) Other mining companies, Hecla, Agnico-Eagle Mines and Richmont Mines are doing very well. Why is the 16:1 such a mess?

Thanks

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