The past year continued to test our individual and collective resolve.
We passed, and the Company is in much better shape than it was a year ago. The financial Balance Sheet remains basically unchanged which, in light of the disruptive influences of the past, I view as positive. The Statement of Operations surprised us. If depreciation and amortization are removed from operating expenses, we had a small profit, much improved from year 2002. Details and comparisons are included in this report.
Sometimes corporate results should be judged by what did not happen during the period in review. We did not sell any of our mines or real estate. We did not harvest or sell any timber. Our gold specimen collection remains intact. The underground workings are not flooded. It was not an easy ride, but our Company passed through a lengthy and difficult period.
The 2004-2005 year will mark a major transition for us. The company moves from defending outrageous allegations of wrongdoing to taking the offense. It chose to initiate a claim for damages against a band of law breaking lawyers, who crippled its efforts to operate. Phony environmental issues were also addressed along with maintaining our obvious attention to real environmental concerns. The change from being on the defense to going on the offense has been an adjustment, but I like the offense much better.
For those of you unfamiliar with our website, www.origsix.com, I urge you to visit. It provides you with an opportunity to view the latest hot-button topics. Our website features more than our OAU X-mart, where buyers and sellers meet in a commission-free and honest market place. Sections such as “Upcoming Events”, the latest picture from our “Photo Album,” many articles under “Latest News and Publications,” entries from renown comic artist and director Dan O’Neill under “Comics and Stories from the Sixteen to One”, all “Recent Newsletters” and the always informative, sometimes volatile yet lively “Forum” are designed to inform and enlighten you along with the public at large.
Production predictions for the Sixteen to One mine, one of the world’s premier high-grade gold deposits, are educated guesses at best. A crucial component of an educated guess is the number of miners employed and their realized footage. Our gold deposit is proven. Valid targets exist and warrant the investment of capital and the expense of labor. With the established market for our gold, the company will be profitable when management, capital and labor combine reaching an economic equilibrium capable of sustaining development within the mine.
I expect the crew to meet Mister Pocket this year.
Michael Meister Miller,