In New California Gold Rush, Old Mines Reopen

``Mining largely dried up in California after World War II as price controls made the business model unappealing. But with controls gone, and gold now selling at more than $1,300 an ounce, the math makes sense again... Sutter Gold estimates that there could be $800 million or more in ore under the 3.6 mile stretch it owns in the Mother Lode. And with most of about three dozen local, state and federal permits already in hand, its new Lincoln Mine could be producing gold as early as next year. '' -- They will need to ramp up huge production just to avoid a decline in gold output.