Friday, April 25, 2008

Hooked on Gold Gazette 4/25/08

Gold 'N' Store items

· Gold Spot Closing Price for Friday: $886.00 - Low for the week was $877.60
· Spot price last week: $916.20 Reuters/UK gold article today

Calendar of Events

1st APRIL FOOLS DAY – Arkansas River is open for Motorized Equipment
9th GPOC General Meeting
12th GPOC Panning Demo at the Denver Museum of Nature and Science 10:00a.m. to 2:00 p.m.
25th – 27th SPRING Gem, Fossil and Mineral Show – Denver, Co.

9-11th Let’s Go Gold Panning Days – Point Bar, Colorado
11th Mother’s Day
14th GPOC Regular Meeting 7:00 p.m.
17th Prospecting Introduction and New GPOC Member orientation Class – Reservation required at the Mining Museum in Colorado Springs
24-26th Memorial Day Weekend
30th Memorial Day
11th GPOC regular meeting
14th Flag day
14th-15th Breckenridge Kingdom Days
20th Summer Solstice (YAAH)
21st-22nd Gem Show-Colorado Springs Phil Long Ford Expo

BUSY gold week! Busy site week. You can find some wonderful gold specimens and other minerals at the Spring Gem, Fossil and Mineral Show this weekend in Denver, located at the Holiday Inn North, on Broadway south of the 58th Street exit. Broadway is west, over the bridge and a left hand turn at the light.

I got so caught up in photographing and posting new items in the Gold ‘N’ Store, I forgot how much time it takes to do the description pages! You have 4 new items in the store this week, and more will be coming. I have a lot of prospecting design scenes, and will probably put more than one on a description page so there aren’t so many pages to format. Each item will be bookmarked to their specific spot on the page. I also have two pages of information I am working on, so watch for some new articles in the next couple of weeks.

On the Federal level, the Congress has asked the Energy & Resources committee, updating the 1872 mining law, to add a “fair royalty” as well as a roll back of tax preferences to their considerations. They propose an 8% royalty for new mining interests and 4% for those existing on net revenues. Spokesperson Luke Popovich for the National Mining Association, said they would support a “modest” royalty on net revenues, and that 4-8% on existing and new interest respectively, would be more than the mining community could endure. So far, little news on the changes has been seen by us, but the changes are destined to effect all of us, whether you are in mining or not.

I had a report from Arizona that a 4 ounce nugget was found in the Prescott area recently. (Probably while we were there, but it wasn’t US! LOL!) No one has actually seen it who knows anything about the area yet, but it supposedly was lying on top of the bedrock that had been washed away due to the building of a new bridge…..that’s right. Just sitting there. Me thinks this size of gold would be the size of the palm of my hand. Not bad for a day’s walk! The value of this baby? Somewhere in the $40,000 range. Makes your mouth water, doesn’t it?

I can smell the mountain snow melting. It is one of the pleasures of spring that I always missed the most while I lived out on the prairies of Colorado. I never realized what that smell was until we moved back to the Denver area 8 years ago. It has a fresh smell like no other anywhere else I have been, and since our prevailing winds are out of the west and southwest in the spring, it comes on a warming wind, too. Makes you yearn for the mountains and the chance to find gold.

GOLD is having a downturn this week, as expected, spurred on by heavy withdrawls from several ETF’s. Price supports have been predicted to be in the $880 range before beginning to rise again. No one is quite sure when that will be, but $1200 gold is expected by the end of the year. Now is a good time to add to your gold holdings, too.

Governor Ritter announced this week that he will be supporting an effort to repeal the tax credits the mining industry has benefitted from in Colorado for so long. Mining interests here are, of course, opposed to the new changes.

Anyone who is getting ready for Let’s Go Goldpanning Days in May needs to make sure they register for their bond with the BLM. The new forms can be found at That’s Woody with the gold pan. Check around the pages to see which bonds you will need for whatever work you are planning to do on the Arkansas.

World Open Panning website has this year’s world wide panning competitions listed and they add more all the time. A great site to visit: .

Until next week……
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