The Sixteen to One mine requires an unfamiliar operation, which is recognized by its owners, miners, geologists, engineers, and some public agencies. The Company celebrated its 100th year anniversary on Oct. 9, 2011. becoming the oldest gold mining corporation in the United States. Production is approximately 1,500,000 ounces of gold.

Thirty miles of horizontal workings and millions of cubic feet of vertical excavations called stopes exist. Once an area is targeted, travel ways and escape routes are brought into safety compliance. Production miners set up a heading and begin a drill-blast-muck sequence into the quartz. Gold is hosted in the quartz vein. Metal detectors are regularly used underground as a tool for guiding the direction of the work and to classify the ore underground, thereby reducing costs.

Production is termed as "feast or famine". When operations detect the presence of gold, the Company evaluates the environment and changes from exploration to development into production.

FINANCIAL REPORT NOTES:

No value is recorded on the balance sheet for standing timber. No value is recorded on the balance sheet for water- rights. Reduced value is recorded on the balance sheet for buildings, equipment and land. No value is recorded on the balance sheet for goodwill.

For the three-month period ended March 31,2022, compared to December 31, 2021, there were no significant changes to the balance sheet.

For the three-month period ended March 31, 2022, compared to the same period in 2021, total operating expenses increased by $10,652 (21%) due to expanding pumping programs.

For the three-month period ended March 31, 2022, compared to the same period in 2021, the company showed a loss of $48,250 compared to a loss of $34,222. The $14,028 (30%) difference is due to expanded pumping programs.

© Edgar Online, source Glimpses