Mining Stock Quotes and Mineral & Metal Prices
November 1999 by Staff
I started with, "Hey, Rusty, tell me about the time..." and that was all it took.
Not too far from the pine-filled mountains, a young boy was exploring along Meadow Creek in Cabarrus County, North Carolina, one fine day in 1799. He discovered a beautiful rock that he took home and put to good use as a doorstop. Shortly thereafter, a jeweler stopped by to visit his folks, and as it turned out, the new doorstop was actually a 17-pound gold nugget. That nugget truly did open a door as it marked the beginning of the first gold rush in America.
Here’s what actually happened, described in the case file documents: Based on a precious metal assay certificate signed by a registered southwest assayer, the sellers, in consideration of the payment of over $53 million, transfer over 185,000 troy ounces stored in a warehouse to a company based in Norway. This document was signed and notarized in a southwest town, and was publicly distributed in 2001. Guess what?! The warehouse floor concrete may have a higher gold assay than the concentrates sitting above it valued at fifty-three million.
If you do not have the time to read the entire document, I would suggest starting with the Executive Summary that begins on page 80.
Climbing up the debris, I pointed my flashlight up a shaft ascending straight up as far as my light would shine. It was the stope of the pay shoot leading to the old tunnel above!
...we are witnessing the onset of a major transformation of the underlying economic/political structure, perhaps headed toward government controls beyond any previous American experience.
The Bawl Mill • USPS Delays ICMJ Delivery at Oakland, CA Processing Center • Another Gold Heist Reported at Nome • No Need to Rewrite Mining Regs, NAS Study Confirms • BLM Filing Requirements for Small Miners' Waiver • Asarco Accepts Phelps Dodge Buyout • Once Lonely, Mojave Desert Phone Now World's Companion • Judge Blocks Road Protest • Company to Sue Over Stymied Gold Mine • No Mining / Logging on 40 Million Acres • Catastrophism vs. Uniformitarianism • 1st Annual Placer County Open Gold Panning Championships—1999 • Picks & Pans: The Ten-Pennyweight Nugget • Mining in Sonora, Mexico • Pullin' the Pin • Land of Golden Dreams—California in the Gold Rush Decade • Cerro Colorado Silver, Arizona • Progressive Privy Program Proved Popular • Melman on Gold & Silver • Surging Gold Prices Burn a Few Unlucky Mining Firms • Looking Back