Melman on Gold & Silver
August 2003 by Leonard MelmanDuring the past month, we have witnessed an orgy of buying on many of the world’s markets with Japan soaring by over 1,000 points (see Nikkei chart), Germany and France rallying strongly and here in America, the NASDAQ Index has risen to over 1,700 (see chart). However, when we look at the economic fundamentals, it appears to be a case of, as Sir Winston Churchill might have put it, “Never have so many become so excited about so little.”
The Yuba County area of northern California is so rich in mining history that it should not be overlooked while exploring the potential placer mining locations. The incredible wealth that came from the myriad of placer deposits leads many to continue exploring the rivers and streams for more treasure.
After paying for the mine fleet, mill capital, supplies, fuel, power and labor, at today’s metal prices, does this mine make a profit?
Vanishing with equal rapidity is any belief that this onrushing economic downturn is a minor speed bump on the road to financial utopia.
Boy, do we ever live interesting times! What other conclusion can we come to when the only real excitement on the whole scene is a kids' book and a TV series about a bunch of people acting in a manner to make the word "weird" seem respectable!
Getting started in prospecting often requires the purchase of some equipment, but one can spend as little as $10 and be finding gold or spend thousands and also be finding gold—yet you will probably have many more opportunities and possibilities with more and better equipment.
From the December 2013 issue:
The Bawl Mill • House Resources Committee Addresses Environmental Scare-Tactics —by House Resources Committee & Chairman Richard Pombo • Precious Metals in the Patagonia Mountains • Over the Divide • Idaho-Maryland Mine—History Restarted • Montana Candidate Sees Natural Resources as Path to Recovery • Judge Rules Against Oregon Miners—Battle Continues • Lake County "Diamonds"—Renewed Value for an Old Favorite • Moving the World's Largest Machine—The Bucyrus 2570W Walking Dragline • Mother Lode Gold, California • News From the Pacific Legal Foundation • Maine to Create Mineral Park • Mining Stock Quotes and Mineral & Metal Prices