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Gold/Mining/Energy : Gold Price Monitor
GDXJ 98.59-2.8%Nov 13 4:00 PM EST
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To: IngotWeTrust who wrote (42755)10/13/1999 9:11:00 AM
From: Bill Jackson  Read Replies (2) of 116761
 
ole 49r. An interesting tale you tell. Well the more modern equipment has joggers to break up the packing in the hoppers as well as some bars in the throat to slow it down.
As to cash sales, the big mines that sell sorted stone aggregate(Dome in Timmins among many) are not directly operated by the owners and thus will not permit any cash sales of aggregate without a record and a receipt to make sure the owner gets his money, so they all show the sales of aggregates and silica flux in the annual report details.Some areas just pile their aggregate in huge piles and when a highway project goes through they bring in a mobile crush and sort operation as there are often not enough local buyers to justify and year round operation.They also watch for miners stealing bits of gold, a practice called high-grading. Since it is illegal for a mine worker to own high grade they usually sell for cash to local buyers for a lot less than full value. Those buyers then export it to a refinery and make their profits.
A small operation that is owner operated can sell gold/aggregate, take the cash and pocket it and say nothing to the IRS if he wants to take that risk.
I suspect that a small hobby mine like that is a tourist experience and they do not count the time and compare it to an hourly wage.....they just spend a day or two and end up with a glass tube with their gold in it.
To what degree is that mine a full commercial operation that runs all year regardless of the tourists that stop by?

Bill
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