Melman on Gold & Silver
August 2001 by Leonard MelmanOur world of precious metals showed several conflicting trends. Gold fell sharply from last month’s highs to the area between 265 and 270 and then stabilized in that area.
• Southern Era
• X-Cal Resources
• Placer Dome Inc.
• Pan American Silver Corp.
• Vista Gold Corp.
In 1893, Jerry McAuliffe led a team of prospectors east of Kalgoorlie in Western Australia and found the famed Kanowna goldfield. On their first day on the field, they picked up a total of more than 300 ounces of gold nuggets from the ground. As the rush began to increase in momentum, other prospectors found patches of nuggets simply lying on the ground near rich outcroppings of reef. In very quick time, hard rock miners were tearing into the rich reef lines...
• "...the small miner and prospector has lost one of their greatest friends."
• "As a taxpayer, I have to wonder what kind of fantasy land our government regulatory employees and managers live in."
• " ... this 'batty' line of reasoning was ludicrous."
A gold prospector in central Victoria, Australia stumbled across an 87-ounce gold nugget in early February 2015, after his wife told him to head outside to get some air. He had given up smoking a few weeks prior and was getting a bit “grumpy,” she told him.
All these decisions and more depend on the richness of a claim—something that is determined by sampling. But sampling isn’t cheap, and even collecting the samples can be more difficult than it appears on the surface.
When the thirteen original colonies were laid out in what is now part of the United States, they used the English system of metes and bounds.
...when we begin to observe what appears to be an early indication toward a more bullish stance in one of the major miners, that can reasonably provide us with a rising degree of optimism for the sector itself.
The Bawl Mill • Our Readers Say • The Public Process—Getting Involved and Making a Difference • Pacific Northwest Miners Request Help • USFS Roadless Comments Reopened • Flat-Fault Gold • Basic Drywashing Principles • Fields of Gold • Picks & Pans: All That Glitters Pans Out Well! • De Beers Undergoes Overhaul • Gold in Michigan • Update on the West Mojave Desert Planning Area • 2001 Inductees to the National Mining Hall of Fame • Company Notes • The Spanish Silver of Mowry • Mining Stock Quotes and Mineral & Metal Prices