Melman on Gold & Silver
May 2005 by Leonard MelmanLast month was one of the most unusual in recent memory. For virtually an entire month, the news media was focused almost entirely with death and dying.
During the initial assessment year (the year of location), the claim maintenance fee must be paid at the time the notice of location is filed with the Bureau of Land Management. Failure to pay the claim maintenance fee will void the claim.
In 1717, Sir Isaac Newton, Master of the British Mint, established a fixed price for gold that was equivalent to around US$20.00 per ounce. This price was for bullion gold, refined to a purity of twenty-two karats (.917 fine).
Putting this information together, we conclude that the coming year of 2007 could hold explosive growth for the precious metals as the probability of an international “accident” rises, as the dollar comes under increasing pressure and as the fundamental demand for resources of all types from India and China plus other developing nations grows relentlessly.
In 1948, I lived alone in the Cerrillos Mountains south of Santa Fe, New Mexico, at the Tom Payne Mine. When lead and zinc metal prices suddenly took a nosedive, our ore and concentrate shipments from the Payne to the ASARCO smelter...
On July 4, we are reminded of the sacrifices our Founding Fathers made to establish this great country of ours, and in that spirit, the Minerals and Mining Advisory Council (MMAC) has created a draft Declaration of Miners.And MMAC has been hard at work writing a bill, with the unwavering support of several members of Congress, to reaffirm the rights of miners operating in traditional mining districts.
“The biggest nugget you’ll ever find is in a spot that many have walked over for years.” I’m not sure who told me that, but the more I think about that statement, the more it makes sense.
Excerpts from California Mining Journal, our original title, published 50 years ago this month.
The Bawl Mill • Our Readers Say • Estimating Gold Values in Placer Gravels • Lode Gold in Nicaragua • Miners: Plan Ahead for Next Year's Taxes • California's Original Sixteen to One Mine • Montana Multiple Use Association Backs Miner • Picks & Pans: Detecting Micro-Nuggets • Diamond Search Underway in Alaska and Minnesota • Mining Outfits Eye 50-Year Supply of Iron Ore • Goldfield—Princess of the Mojave • Couple Creates Jewelry of the Iron Range • Looking Back • Mining Stock Quotes and Mineral & Metal Prices