Gold Garbage: Scams New & Old
October 2002 by Dr. Ralph E. PrayHere’s what actually happened, described in the case file documents: Based on a precious metal assay certificate signed by a registered southwest assayer, the sellers, in consideration of the payment of over $53 million, transfer over 185,000 troy ounces stored in a warehouse to a company based in Norway. This document was signed and notarized in a southwest town, and was publicly distributed in 2001. Guess what?! The warehouse floor concrete may have a higher gold assay than the concentrates sitting above it valued at fifty-three million.
We were saddened to learn that Chuck Cox, a long-time prospector and tireless organizer for the Washington Prospectors Mining Association, passed away...
- WOTUS rule finalized
- Reminder on new claim fees
If you do the math, it equates to about $1,500 of heavy metal value per three-hour dive. This is good wages, and you are doing a service to the environment by removing this toxic metal.
…the men sought to “inject false and misleading information about the genuine supply and demand for precious metals futures contracts into the markets, and to deceive other participants”…
Plans are also under way to coordinate with the incoming chairman of the Senate Energy and Natural Resources Committee.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
PLP northern director Clark Pearson stated, “Thanks to the U.S. v. Hicks case, the courts have acknowledged that claimholders are owners of land within the National Forest who are exempt.”
The Bawl Mill • Our Readers Say • Placer Gold in Idaho • Working the Belmont Mine Butte, Montana—1953 • Simple Sluice Design • Cobalt and Nickel in Missouri • Sunshine Mine Video Brings Back Painful Memories • Hardrock Detecting • Company Notes • Picks & Pans: Confessions of a Professional Nuggetshooter • Gondwana Gold and Diamonds • Looking Back • Ghost Towns of Washington County, Utah • The Fire Within • 2002 California State Gold Panning Championships—Foresthill, California • Mining Stock Quotes and Mineral & Metal Prices • Melman on Gold & Silver