Post by
ctoivo on Jan 19, 2021 11:46pm
PROVIDENCE!!
I’m sure that the astute investors here have read the historical document section of the website; statements/testimonials from men that knew Providence well a hundred years ago. For those that haven’t:
To paraphrase and congomerate a lot of the statements, “man, there’s a lot of very high grade gold still in that mine”. Often mentioned was the high grade connection between the 11th level and the newest and lowest level, the 12th, an area never mined. They were in rich ore when they shut down in 1907. It seems to have shut down, the last time permanently because the owners and leasers couldn’t come to terms. (lots of game playing going on it seems). They opened for a while in 1914 but were short of funds and didn’t dewater lower than the 8th level.
Some quotes:
“Properly worked the Providence has a great future”, GS Dean, 1918
“There is no better opportunity to develop a first class mine than is the Providence”, JH Townsand
“I believe there is a fortune between 11th and 12th” , “Best mine on the belt” , “Too great a mine to be lying idle”
“The mine has only to be worked by modern methods, (reduction, improved machinery, electrical power, etc) to become one of the great producing mines of California.” John Chapman former superintendent of Providence. 1918
One of the operators said that it’s a very dry mine which is a very good thing, of course. He said that it only took one skip load a day of 300 gallons to empty. (almost shop vac territory)
Another interesting point mentioned was something I first thought when looking at a topo map, that in 1918 it was proposed to run a tunnel or decline from the valley floor to the lower workings. This would do so much for access, ventilation, dewatering, efficiency, and safety.
This company is way, way, under the radar but it can’t stay there. I too believe it could be a homerun. The trollgoofs might want to have a hanky ready when they look at the share price down the road a ways. In the mean time they should have a good look at PHD’s excellent video.
People that don't know may start to understand the huge potential of mining where a great deal of high grade gold is known to be, that is open along strike and at depth. (perhaps quite deep). And that has never been explored or mined using modern, state of the art methods.
https://providencegold.com/project/project-details/
Comment by
ctoivo on Jan 20, 2021 2:17pm
I just spoke with Ron. News out Friday or Monday. He said the 'qualified person' he needs to sign off on the reports was out of town til yesterday which was the reason for the delay.
Comment by
Angelika1908 on Jan 20, 2021 2:27pm
This post has been removed in accordance with Community Policy
Comment by
Darkangel on Jan 20, 2021 2:28pm
Hey he was in Disneyland , which is closed , how come Ron did not tell me this yesterday , could not come up with excuse right away , goof
Comment by
Stocks6427 on Jan 20, 2021 4:46pm
don't be fooled by """ out of town """. Everything is electronic these days including signatures.