Melman on Gold & Silver
July 1999 by Leonard MelmanClearly, the single-most important reason for the latest decline in gold is the recently announced auctions by the British Central Bank. However, other news stories this past month also had negative implications for the yellow metal.
Miners are digging again where their forebears once unearthed riches from eight historic mines that honeycomb Sutter Gold Mining Company’s holdings about 50 miles southeast of Sacramento.
• "Fast and Furious" investigation slowly moving forward
• EPA needs to be held accountable
Back at the entry point of the mine, we took turns slowly crawling down the slope leading into the mine portal with our metal detectors, hard hats and flashlights. The mine was hand dug and is about 75 yards long.
The “Golden Triangle” dry placer district in Sonora, Mexico, lies some 80 to 100 miles south of the border. It is in desert terrain at elevations between 1,900 and 2,300 feet above sea level.
On our fourth trip, we finally reached the top edge of the old hydraulic pit, and it was monstrous.
Without a telephone, electricity, or television in his isolated cabin, Olson led a simple and peaceful life. He enjoyed living in a remote canyon surrounded by a vast wilderness. Mining for gold absorbed his days.
Bulgaria has followed the recent moves of Mongolia and Venezuela, demanding renegotiation of existing agreements and more concessions from mining companies.
The Bawl Mill • Gold Hunters Hit the Web in Fight with Missile Range • Religious Broadcaster in Liberia Mining Venture • Kazak Government Collects Gold from Residents • Recreational Gold Panning on the South Yuba River • Groups Wonder Meaning of Call for More Wilderness • Mining Claim Maintenance Fee Due • Desert Bonanza • Gold Near Boulder, Colorado • Company Notes • The Carissa Gold Mine, South Pass, Wyoming—A Sleeper? • Tantalum • Building the American Dream • Picks & Pans: A Pay Streak in Slate • Elizabethtown: Uncovering a Buried California Mining Community • California Diamonds • Mining Stock Quotes and Mineral & Metal Prices • Silver Demand Driving Mine Production Up—Mexico Remains Number One Producer • Looking Back