Melman on Gold & Silver
February 2005 by Leonard MelmanMost American markets greeted the first few trading days of the new year with substantial selling. Compared to their 2004 year-end levels, by January 11, the Dow Jones Industrial Average had declined almost 300 points, the NASDAQ Composite had fallen from 2,185 to near 2,080 while the S&P 500 had dropped from 1,217 to 1,183.
In the high desert hills more than 60 miles west of Prescott, Bagdad’s residents chat about the Wednesday golf league, the girls softball team and the new cafeteria over at the school.
These were the men who periodically picked up the gold amalgam from the tables and sluices in the dredge, processed it, and transported the gold ingots to the railroad express office in Alder. Their trustworthiness must have commanded a prominent wage.
Those miners present immediately recognized the benefits of becoming members of MMAC and joined up on the spot. I spent some time answering a few questions, and then the miners took over.
You will find a few articles in this issue that you wouldn’t normally expect to see in the Journal. Don’t fret—we’re not changing our focus, but the time seemed right to address a few pressing topics.
Uncle Sam, the not-so-silent partner of every miner, dredger and prospector is willing, using our tax laws, to help reduce out-of-pocket expenditures necessary to acquire business assets and property. In addition to the well-known depreciation deduction, however, the tax laws permit tax write-offs for other, less tangible business assets. The best time to explore and lock-in many of these overlooked and misunderstood deductions is now, well before the end of the tax year.
The upper Susitna Goldfields, sometimes known as the Valdez Creek Mining District, are located 150 miles northeast of Anchorage off the Denali Highway in the Alaska Range. Though a small mining district, it was the “jewelry box” of the...
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The Bawl Mill • Shortage of Mining Engineers Projected • Ex-MarketWatch Mining Promoter Settles Charges • Carbonatites • Sage-Grouse Listing Denied • The Art of Finding Coarse Gold—Part III • Tongass Approves Kensington Mine Plan • PLP Interim Rule Raffle • California Miners Locate Rich Pocket of Specimen Gold • The Lucky Shot Mine • BC Premier Heralds "Golden Decade" in Forestry and Mining • Drywashing for Eluvial Gold in the Desert—Using a Portable Drywasher and Hand Tools • Claim Filings Up in the Northwest • Canadian Officials Foresee Little Impact From Mine • Coeur d'Alene Mines Sees Future in Bolivia • The Golden Highway—Nevada County • Mining Stock Quotes and Mineral & Metal Prices • Looking Back