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Greetings and Salutations from the Front Range,

As we move into 2024, I want to take this opportunity to wish you all a very happy and merry holiday season.  I also want to express the thanks and deep appreciation of our entire team for your continued support of the GS Mining Company.  2023 was a challenging year for the Bates Hunter Mine, the Water Treatment Plant, and the Golden Gilpin Mill.  But with dogged determination, and in the spirit of an immortal literary character, we have moved from “I think I can”, to “I Know I can.”

On December 26, 2023, spot gold was $1,804.  One year later it is $2,078 and we are poised to cash in.  We are currently producing and bagging Flotation Concentrate in preparation for our first delivery and sale of 20 tons of pay dirt.  We are working through our own inventory of Jig Concentrate as buckets of material are passing over the shaker tables on a regular basis.  We are still not where we want to be, but we get closer every day.

Speaking of the tables, here’s a view of Mike Meter wet screening a bucket of Jig Concentrate.  The concentrate gets screened into three fractions, each of which is run across the large shaker table.  The first and second cuts (the very good to good material) are then run across the small table, and the third cut is sent back to the ball mill to see if we can squeeze any more gold out of it.  The first cut from the small table goes into the spiral and all the free gold is removed.  The rest of the material that comes off the small table is mixed in with the flotation concentrate to raise its grade; and the free gold will be turned into dore bars.

Pictured below you can see Steve Humphray giving my wife a tutorial on the large table.  

Lynda and I were in town for the Company Christmas party. This year we took over Crook’s Palace (reputed to be Colorado’s oldest saloon) which is down the street from the Bates Hunter and has been serving miners since 1868. We are lucky to have an incredible group of people who are dedicated to our quest to make mining history.

The last bit of news to close out the year concerns our nimble opportunism in continuing to expand our land package. Here’s a picture of the Becker Bates shaft house, for which we have a thirty-year lease. Last week I was able to get a new deal from the landowner which gives us an option to purchase the structure as well as the entire hillside. Although currently our efforts are laser focused on revenue, this new deal provides substantial future benefits.

One last bit of news before we sign off for 2023.  The Golden Gilpin Mill is a Colorado historic landmark.  Revitalizing that mill was the dream of Steve King.  The first time Steve brought me to the mill, the only work being done was by two fellows in hazmat suits who were cleaning decades of pack rat droppings from the walls and floors.  But like the optimist who, when confronted with piles of horse manure, knows that there must be a pony somewhere, Steve was able to see an operating mill churning out bags and bricks of gold.  That future is now, and so, in honor of Steve, the Company will rename the mill as:

 The Stephen D, King

 Golden Gilpin Mill

Perhaps some of you will join me after mud season when we affix an appropriate plaque to the mill in Steve’s memory and honor.

That’s it for this year.  Lynda and I – standing in front of the aforementioned Stephen D. King Mill - wish everyone a happy and healthy New Year.

Franklin Levy

GS Mining Company




This report may be deemed to contain “forward-looking” statements. We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and we are including this statement for the express purpose of availing ourselves of the protections of such safe harbor with respect to all of such forward-looking statements. Examples of forward-looking statements include, but are not limited to (i) projections of revenues, income or loss, earnings or loss per share, capital expenditures, growth prospects, dividends, capital structure and other financial items, (ii) statements of plans and objectives of ours or our management or Board of Directors, including the introduction of new products or services, or estimates or predictions of actions by customers, suppliers, competitors or regulating authorities, (iii) statements of future economic performance and (iv) statements of assumptions underlying other statements and statements about us or our business.


Our ability to predict projected results or to predict the effect of any legislation or other pending events on our operating results is inherently uncertain. Therefore, we wish to caution each reader of the report to carefully consider specific factors, including competition for products, services and technology; the uncertainty of developing or obtaining rights to new products, services or technologies that will be accepted by the market; the effects of government regulations and other factors discussed herein because such factors in some cases have affected; and in the future (together with other factors) could affect, our ability to achieve our projected results and may cause actual results to differ materially from those expressed herein.

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