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Forum
Topic:
Miscellaneous

       

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 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
 By Rick

06/14/2004  10:08PM

Many of us are reading and watching the ongoing litigation procedures, that ongoing battle currently engaging most of our Mine's above-ground time. Let's not forget the positive battle engaging miner vs. gold-in-quartz-rock underground that has been waged daily throughout the ongoing political battles.

I recall a fantastic Shareholder's Day turnout last year, and heard many of us speak up during discussion time. I myself sat silent for most of the procedings, only to eventually introduce myself to some of the assembled crowd on an individual basis, mostly to meet those of us with whom we share this passion, and to some who've participated within the lively Forum discussions that have peppered this time. I met some people with passions close to mine, some others obtuse, mostly ending up wondering how many of us who attended shied away from speaking up, maybe because it seemed inappropriate or we were simply too shy.

I can almost foresee the future on two fronts: 1) Success within the current mining plan; success within the company's long-term goals to expand exploration into the un-tapped lava-capped Tertiary-channeled shaft into the belly of the vain; but also 2) Success with the ongoing proactive lawsuit on behalf of us as shareholders, by exposing the fraud imposed by the CDAA, and subsequent damages pursued on our behalf. Long overdue, and as a result something that has under-valued our company's stock.

I recall vigorous debate during past shareholder's meetings, all focused on the viability of such an endeavor. Most of us who stood up spoke to the contrary, to worries about frivolity, to sour grapes, to lack of substantiation. Yet within the absolute, the ongoing and current adjudication of the lawsuit brought on our behalf, I believe this is a vital and ongoing positive reality.

We as shareholders were damaged by the illegal action of the CDAA, and we all have suffered directly throught the artificial depression of the stock value of our asset.

The value of our asset, our voice as shareholders of the Original Sixteen to One Mine, is what we will be meeting about.

Those of us privy to the ongoing battles with the CDAA know this; to those of us who aren't up to speed on the issue, please read all the stuff Mike's been submitting, as well as all other Forum topics. It's esential.

See, I figure that when we're all up there under the tent, under the open sky and within the powers of nature, as we marvel about our prize....we might forget our adversaries.

We need to have our voices heard.
 By studbkr

05/23/2004  6:35AM

I wonder if we're getting too far off-topic, though the role of gold in the world is important to mining companies!

Yes, it is assumed the Fed is anti-gold. If there was a gold standard, the Fed would not be able to tinker with the money supply at-will. This tinkering includes creating the oxymoron of "desirable inflation" (which picks the pockets of people with savings in the bank and rewards borrowers, including the government, by cheapening the value of what they owe) and causing a housing bubble due to unntural interest rates.
 By lynwood

05/20/2004  9:47PM

Is it a commonly shared belief that the Fed Reserve is anti gold? The Feds could not compete with the forward selling gold producers. Who can compete with any one who sells what he doesn’t make? Control the spread. The federalists gave up a lot of gold before decriminalizing its ownership by U.S. citizens. That act of Congress began the last rush in 1975 and continues into the 21st century. Oil producers collected gold for the first time. The Persian Empire understands its place in civilizational terms. The world’s civilizations have understood as well. Gold ‘s influences are physical and anti physical.

Greenspan as an anti gold is a well played libel. Equally important evidence says he’s a hard currency operator. OR the results of the interest rates he influences are not understood by anti gold advocates. Maybe the feds want to be buyers not sellers. Maybe the feds want you and me to become owners of gold. If it is defined that to be anti gold means you want to depress the price,does it mean that to be pro gold you want the price to go up? What ever you decide it is a conversion of paper currency and one ounce of gold.
 By studbkr

05/19/2004  5:13PM

If you like Kitco.com, I can also highly recommend www.321gold.com. www.gold-eagle.com is worth a look too, if you don't get dizzy from all the banner ads.

Neither site is "pump and dump", but they're definitely pro-gold and anti-Greenspan. They make their money through selling metals (Kitco) and voluntary contributions (321gold).

When you read or listen to anybody, think about what their perspective on the world is and whose pocket they're trying to get their hand into. (soapbox advice)
 By lynwood

05/08/2004  12:03PM

A GOLD investment or gold positions are not the same. One reflects an insurance policy against an unwanted disaster. The other is an opportunity to make money. Gold reflects many economic scenarios, including inflation that Grandich points out in his article. I disagree with him regarding the “sole-most potent impact to currency” (inflation). It is supply and demand not inflation. Inflation is a symptom not the primary core.

Grandich writes, “Mining and exploration shares are all about the price of the underlying metals”. He is partially correct but wrong in saying they are all about the price of the metals. Mining and exploration shares are all about the present and realistic future value of the corporation.

Thanks for introducing me to Kitco. Is it a worthwhile forum, like this one, or just another pump-and-dump amusement campground?
 By gfxgold

05/07/2004  5:20PM

I knew you would click on this "Topic" on the "Forum" with the subject being "Special Alert." It is also the title of an article by Peter Grandich, a contributing writer for Kitco.com . The article is worth the read. Copy and paste this into your "address bar" to read the article http://www.kitco.com/ind/Grandich/may072004.html or go to www.kitco.com and click on "Special Alert" under "Kitco Contributed Commentaries."
 By studbkr

04/14/2004  6:39AM

Thank you for the answer Michael. I watch the entire metals and mining industry and the long-term bull market is back! Now when the Dow goes down a few thousand more and gold goes up a few hundred more, Origsix will be getting alot of attention!
 By Michael Miller

04/12/2004  6:30PM

Try going to a chat room where entries are kept chronologically. If the Forum grew to 100 or more topics, the task of reading them or participating in a topic is like having a library without an index file. A decision was made to keep about 20 topics active, which is what we are doing. If no one adds to a topic, like the miners prayers, it may go into the misc. file. That great entry went into Discovery not misc., which will be renamed Reflections and Directions. Maybe the new combination will trigger someone to add ideas related to the subject matter of that file. I believe in the powers of positive thinking and was reluctant to move that entry. We do our best to keep a sense of balance within the entries. Actually the misc. is an interesting file to reread. The Forum had 30 topics. It looked like more would be coming in. Something had to be done. I had some time between 11am and 2pm today, so jumped in to rearrange the entries. Maybe there is a better way to subdivide. You will find very few Forums where a new reader can easily access old entries. We are always open to constructive criticism. Please remember the stated intent of the Forum. Glad you care enough to write.
 By studbkr

04/12/2004  1:31PM

Why do multiple topics, each with their own name, keep ending-up under "Miscellaneous"? The topics are then less easy to see and even harder to follow. I don't agree with someone else deciding what is important and what's not...
 By Brady

04/10/2004  1:21AM

I just wanted to let you know that my grampa was a miner at the 16 to 1. My Dad was born in Forest, and grew up in Alleghany.

Pardon my idiocy, I'm just amazed, with all the time I've spent on the net, this is the first time I've been here.

Kudos, to whomever runs the site. Is it you Bud? Can you even get internet in Alleghany?
 By Michael Miller

04/08/2004  6:32PM

Hi Studbkr

Gympie Gold is a small part of a coal mining company that went into bankruptcy after a fire impacted its operation in Australia. At times the company interrupted its gold production to blast or cut with saws a quartz and gold concentration. Gypmie entered the jewelry market long after OAU re-ignited the century old use of quartz and gold in special manufacturing applications. The Australian quartz is less appealing to the jewelers because of diminished hardness and its ability to take a polish. We welcomed its participation into a market that was monopolized by the quartz from the Alleghany mines. Its closure has put additional stress on the world’s limited supply. Demand exceeds supply, and we want to keep all jewelry manufacturers going. The gemstone is one of the rarest in the world. We do not want to lose its growing market due to its disappearance from production.

The ten people producing quartz and gold from the Sixteen to One mine create twenty full time manufacturing jobs which have created sixty five retail jobs in Alaska as well as an unknown number of jobs elsewhere. We feel the pressure to keep all of them alive. I appreciate your interest in participating in our FORUM.

Selling gold is not a current problem or concern. Finding it is. When we mine gold, it is examined to determine whether it can be cut into slabs. The value added by doing this is significant. Without the jewelry business, well, life would have been more difficult to survive the questionable interferences the company went through. Those days are over and the crew, while small in number, has high hopes of hitting a real good pocket where it is mining (the ballroom block of ground). There is a large section of the vein to mine. A crew of six could easily stay there a year before exhausting its potential.
 By studbkr

04/08/2004  9:24AM

I mentioned Origsix to another goldbug friend. He showed me that there's an Australian Mine that is also selling gold-in-quartz specimens. They claim to have extensive distribution in the US jewelry market. I wonder if we can learn from them?

http://www.gympiegold.com.au/gemstone/

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