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February 20, 2019
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| By
SCOOP |
02/01/2019 2:25PM |
| Storm Alert announce for California beginning two hours from now. Heavy rain turning to snow as low as 2,000 foot elevation. Eight to ten feet high atop sierra Nevada Mountain. Flooding possible in southern CA and northern CA near fire areas. High winds expected. Sixteen to One miners worked into the late hours this week. Indicates gold was mined. Over and out. |
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| By
SCOOP |
01/14/2019 3:56PM |
Newmont Mining will take over Goldcorp in a deal worth US$10 billion, creating the world’s leading gold company.
Under a definitive agreement revealed on today (January 14), Newmont will acquire all shares of Goldcorp for 0.328 of a Newmont share each. That represents a 17-percent premium based on the companies’ 20-day volume-weighted average share prices.
“This combination will create the world’s leading gold business with the best assets, people, prospects and value-creation opportunities,” said Gary Goldberg, CEO of Newmont.
The newly merged company will be one of the largest gold producers in North America, and according to David Garofalo, president and CEO of Goldcorp, the merged miner will oversee more than 3 million ounces of the combined company’s total annual gold production.
Draw your own conclusions about the move to mega –ness, mighty giants or monster monoplies!
The deal comes after last year’s US$18.3-billion Barrick Gold) and Randgold Resources , which many market watchers considered a bullish event for gold. |
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| By
SCOOP |
12/13/2018 3:51PM |
Been bugging Mike for some mining news. He said here, a recent update written to our geologist.
Hi Mark,
Just because we haven’t talked for a while means we have not been busy (you, me and the mine). Two Fridays ago I witnessed the end of a week unlike any I’ve seen in forty years. I was at the mine when the crew was closing the portal. Never have I seen a more work fatigued crew of miners. From their hard hats to their muck boots hard, wet and griminess reeked from their entire bodies. The 1700 rehab is a bitch! The crew is working the same plan when you were underground last. Clearing the 1700 foot level from 49 winze to Tightner Shaft is close to completion. It hasn’t been an easy trip!
One major pile of muck remains, about the same size as the last one. The last one took sixty cars to load, tram and dump down an abandoned raise from the 1900 foot level. That equals 120,000 pounds of shot quartz and vein material or almost half a million Quarter Pounders. Much was hand shoveling.
Due to the higher elevation of the 49 winze, the train had to pull the load up-grade. The dump pocket is South of the winze. The current pile has a dump pocket less than 100 feet away, which is a relief to the men. The utilities are in: compressed air, water, electricity and phone.
I remember well the 1700 level before we stopped pumping in 2005). It is solid rock, very nice for travel. When under water, muck from above stored in the old raises and stopes washed onto the level. The plan is going well but taking longer due to unknowns the crew discovered.
With the pain comes an interesting potential gain. The muck came from the 1500 level when we mined the million dollar day (2500 ounces with spot at $450 a troy ounce. The 1500 station didn’t have much of a dump pocket, so the miners used an existing raise from the 1700 level to move the material. The 1700 station has a great dump pocket, one of the best.
Gold was present while loading the cars; however time is critical so we didn’t spend much time with detectors. The Tightner 1700 station is our target for lowering the pump. You will have an efficient travel way to the 1500 North targets. You know our intentions.
A very competent all around mechanic is handling all the maintenance now. It makes a huge difference. Mining is heavy industry so everything will break or just quit running over time. Fortunately, Al, who you haven’t met yet, has solved and fixed every project, making the crew happy. Also it keeps them underground. We are still short handed. Plan on a visit in January. Reid has an interesting place he wants you to see.
Regards,
Mike |
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© 2019 Original Sixteen to One Mine, Inc.
PO Box 909
Alleghany, California 95910
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Design & development by
L. Kenez
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