Words fail me today for this once a year opportunity to write you. Our operation seems to parallel other businesses in a holding pattern. The mine is kept dewatered, underground travelways are safe and accessible, surface maintenance is attended to, paperwork demands are in compliance AND the spot price for gold is over $1600 an ounce. We diligently seek ways to return to those good old days of finding and selling more gold than expenses incurred. Where are those curious investors with capital on the sidelines? Find us and check us out!
During this illiquid period, www.origsix.com
is used to keep you informed. Many do not use computers actively. Therefore, here are some FORUM topics to relive the past year:
October 9, 2011. Original Sixteen to One Mine, Inc. celebrates its 100 year birthday, becoming one of 468 century old American corporations and the oldest
gold producing company in the United States.
December 9, 2011. Superior Court Judge denies summary judgment motion,
“The court finds that triable issues of material fact exist as to the cause of action.” The water staff claimed we owed it $2,145,000 for not filing thirteen reports. Absurd! Actually the Company should be suing the water board for not following its regulations. I am most interested in solving a paper problem and retiring this time consuming issue. Getting public serving bureaucrats, politicians and others to accept accountability or responsibility for their actions is harder than finding a pocket of gold at the Sixteen to One mine.
March 28, 2012. In picking a spot to begin exploration we use good old fashion geology. Our reports and maps plus history and experiences are invaluable. So is a metal detector; however the range of detection is just a couple of feet. Fresh technology has not come to Alleghany since the efforts during 1995-97. Technology has changed since then. I look ahead to the day when the depth of detection increases. With this background I am excited to tell all of our internet friends that we started an exploration program today. It is designed to explore the strike and dip of the vein as well as be useful should we find a gold target. It is refreshing to have this small opportunity to explore for gold rather than maintain the mine for a future exploration program.
April 11, 2012. Realizing it is better to bend than break, the Company signed a stipulated agreement prepared by the Department of Conservation to end litigation seeking damages for alleged violations of California’s Surface Mining and Reclamation Act (SMARA). When asked why he signed, President Miller said that a lean compromise is better than a fat lawsuit and quoted the great American statesman, Samuel Johnson, “Life cannot subsist in society but by reciprocal concessions”.
Last year I reported that the existence of hostilities against mining in California from government and non-government organizations discourages investment in our goldfields. Hostility has lessened since then as voices in support of domestic production of gold and other natural resources are rising to challenge the broad brush of opposition. This is good for Californians and America. Our Company continues as an industry leader, yet it needs a shot of investment capital to prove our gold miners can turn dollars into gold. When it arrives, a thirty year old dream of mine will come true as well: the declaration of a gold dividend. No, this is not hype that it is about to happen. It’s a real possibility but takes money, miners and no debt for a gold dividend to hit your mailbox.
You are one of 1600 shareholders of our great mine in a bountiful goldfield. Please share my dreams for gold as Woodrow Wilson shared his dreams: “We grow great by dreams. All big men are dreamers. They see things in the soft haze of a spring day or the red fire of a long winter’s evening. Some of us let these dreams die, but others nourish and protect them, nurse them through bad days till they bring them to the sunshine and light which come always to those who sincerely hope that their dreams will come true”.
Join a celebration of our first 100 years at the annual shareholder meeting on June 23, 2012.
Michael M. Miller, president
May 1, 2012