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The Magazine: February 2004 (Vol. 73, No. 6)
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February 2004 (Vol. 73, No. 6)

Table of Contents

The Bawl Mill
• Stinks like limburger
• Auditors get audited
• Will you be able to afford to retire?
• The $200,000 crow

by Scott Harn
Our Readers Say
"...large advances have been made in the field of micron gold recovery..."
"I enjoy the technical information..."
by Staff
Legislative and Regulatory Update
• Comments needed for proposed wilderness in southern Arizona
• Miner wins in court; Forest Service appeals
• BLM directors held accountable
• CBM lawsuit may change venue
by Staff
Buying or Investing in Mineral Properties
Mineral properties are constantly being offered through Realtors, magazine ads, and the Internet. They always sound as if they abound in mineral values, but how can you determine if they are really worth the asking price or if they have any value at all?
by Lawrence Dee
The Joy of Prospecting
I have been prospecting and mining for gold, both as a hobby and as an occupation, for nearly 30 years. From the deep green forests to the rolling sagebrush hills, few people see as much of America’s wide-open spaces as I do.
by Chris Ralph
Company Notes
• TVI Pacific Inc.
• Sherwood Mining Corp.
• Rubicon Minerals Corp.
• Planet Exploration Inc.
• Goldcorp Inc.
• Placer Dome Inc.
• Wolfden Resources Inc.
• Redstar Gold Corp.
• Oretcch Inc.
• Goldspring Inc.
• McWatters Mining Inc.
• Cambior Inc.
by Staff
Picks & Pans: Rattlesnakes in a Gold Camp
Leon was leading the way as we hiked the trail out of North Canyon. Without any warning Leon leaped into the air. He had just spotted a big rattlesnake lying in the grass beside the trail.
by John Anderson
Old-Time Mining Geology Books
Geology books are best used by geologists, but many of the old-time books can be understood by most anyone who has an interest in rocks and minerals. Certain words or phrases may stump the layman, but just skip those parts and go on to the portions of the books that are easily understood. Some of the old-time mining geology books should be in every small miner’s collection.
by Edgar B. Heylmun, PhD
Ask the Experts: Recommended Reading—Part I
We asked several writers and professionals to recommend their favorite books or publications that they thought would benefit prospectors and miners. Each recommendation is followed by a rating of beginner, intermediate, or advanced prospector or miner, or a rating of “general” (for all levels).
by Staff
The Tangential Impulse Water Wheel in California Gold Mining History—Part I
The modern tangential impulse water wheel, a device best suited for hydroelectric power production where high water head is available, is an ingenious device born in the historic gold mining industry of California in the 19th Century.
by Guest Writer
Consider Adding Gold to Your Portfolio
One of the biggest surprises on Wall Street during 2003 was the extraordinary performance of gold-oriented mutual funds—investments that normally fall as the stock market rises.
by Associated Press
US Files Charges Against Gold Refiner
Authorities filed criminal charges against one of the largest gold refiners in the United States, accusing the company of participating in an illegal, $4.5 million money-laundering operation involving tainted gold from South America for at least four months.
by Associated Press
Gold in Australia
Australia is an island continent between the Pacific and Indian Oceans that is nearly 3 million square miles in area. Some 20 million people, mostly of British descent, live on the island, especially in coastal areas and in five major cities along the...
by Edgar B. Heylmun, PhD
Gold in Rotten Rock
Rotten rock (saprolite) can be found in all warm, humid regions, but is best developed in humid, subtropical climates, like that found in the American South. Outwardly, it looks like bedrock, but upon closer inspection, it can be seen that roots penetrate it and that it can be worked with a shovel or hydraulic monitor.
by Edgar B. Heylmun, PhD
Restoring the Rule of Law to US Mining
Senator Ben Nighthorse Campbell (R-Colorado) sponsored the Federal Agency Compliance Act (S-1166) in the 105th Congress to prevent bureaucrats from abusing their office by ignoring federal case law. This legislation apparently failed, but is still needed. During the Clinton administration, Interior Secretary Bruce Babbitt illegally directed the Bureau of Land Management (BLM) to...
by Don Fife
Melman on Gold & Silver
To paraphrase the great Sir Winston Churchill, it would appear that, “Never have so many been so happy about so much!” Investors in stocks are happy; investors in gold are happy; investors in commodities, real estate, government bonds and even airline and utility stocks are happy. Productivity is growing; inflation appears to be diminishing and...
by Leonard Melman
Mining Stock Quotes and Mineral & Metal Prices
by Staff

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