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2023 | NOTES FROM THE UNDERGROUND: PAYDIRT EDITION

Greetings from the Richest Square Mile on Earth,


Another week, another milestone. In the last Notes we detailed the success of the crushing circuit and the production of free gold. This week we tested the wet circuit and hit paydirt.


The term paydirt originated in the California goldrush and referred to rock, sand or dirt that contained profitable quantities of gold. Today, that’s what we call concentrate, which, because of its high level of metals, is also called black sands. Call it what you want – we got it!:


The concentrate is the product of crushed up rock having gone through the ball mill and the rake classifier, and then being piped into the flotation cells.


The crushed rock sinks to the bottom of the cells where a chemical process creates bubbles that carry the metals to the top leaving the rock behind.


When the bubbles reach the top there are paddles that are continuously skimming them off into a trough from which they move to a disc filter, the penultimate step in producing a very golden concentrate.



The leftovers that don’t rise to the top get piped off to our thickening tank, where they are on the way to becoming tailings which will get put back into the mining voids from whence they came.

As with the crushing circuit, we are finishing up some punch list items, adding the final shaker table to separate the gold, and beginning to work on building an inventory.


MEANWHILE BACK AT THE MINE


The water treatment plant is back in action. We’ve added a second clarifier and a second filter press.


We’ve solved the problems caused by the changing water chemistry and I’m pleased to report that laboratory tests confirm the purity of the water we are discharging. We are pumping faster and cleaner than ever before. As to what we leave behind, here is a picture of a tub of the toxic mud we remove as we pump. We fill up about four of these tubs a day and load them into special containers to be dumped at EPA approved sites.


In the end, Clear Creek remains clear, and we are able to continue as “the men who moil for gold” while preserving and protecting the environment.


Stay tuned for further Notes.


GS Mining Company


p.s. Here’s a picture from 2019 of my wife and me (and guard dog) with Val Kilmer. In 2020 Val Kilmer appeared in the movie “Pay Dirt.” Prescient?



Commentaires


CAUTIONARY STATEMENT FOR PURPOSES OF THE SAFE HARBOR PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

 

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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