SECURITIES AND EXCHANGE COMMISSION
                                 WASHINGTON, D.C.  20549


                                     FORM 10-QSB



                      QUARTERLY REPORT UNDER SECTION 13 OR 15(d)
                        OF THE SECURITIES EXCHANGE ACT OF 1934



   For the Quarter Ended September 30, 2006       Commission File No. 001-10156



                          ORIGINAL SIXTEEN TO ONE MINE, INC.
                (Exact name of registrant as specified in its charter)



                   CALIFORNIA                            94-0735390
      (State or other jurisdiction of     (I.R.S. Employer Identification No.)
        incorporated or organization

                     Post Office Box 909, Alleghany, CA  95910
                      (Address of principal executive offices)


                                    (530) 287-3223
                            (Registrant's telephone number)
                                (including area code)

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the past 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing
requirement for the past 90 days.

                        Yes: x                      No:



As of September 30, 2006, 12,883,387 shares of Common Stock, par value $.03 per
share, were issued and outstanding.

<page>


                                   PART I

1.  FINANCIAL INFORMATION

                        Original Sixteen to One Mine, Inc.
                         Condensed Balance Sheet
                 September 30, 2006 and December 31, 2005

                                September 30, 2006       December 31, 2005
ASSETS

Current Assets
   Cash                                  $   10,525             $        0
   Accounts receivable                            0                    247
   Inventory                                660,979                626,649
   Other current assets                       1,595                  1,476
                                         ----------             ----------
     Total current assets                   673,099                628,372
                                         ----------             ----------

Mining Property
   Real estate and property rights
      net of depletion of $524,145          216,895                217,591
   Real estate and mineral property         502,099                501,403
                                         ----------             ----------
                                            718,994                718,994
                                         ----------             ----------
Fixed Assets at Cost
   Equipment                                982,515                982,515
   Buildings                                209,487                209,487
   Vehicles                                 253,128                253,128
                                         ----------             ----------
                                          1,445,130              1,445,130
Less accumulated depreciation            (1,299,470)            (1,272,241)
                                         ----------             ----------
     Net fixed assets                       145,660                172,889
                                         ----------             ----------
Other Assets
   Bonds and misc. deposits                  16,185                 16,185
                                         ----------             ----------

     Total Assets                        $1,553,938             $1,536,440
                                         ==========             ==========

LIABILITIES & STOCKHOLDERS' EQUITY

Current Liabilities
   Accounts payable &
      accrued expenses                   $  280,275                270,635
Due to related party                        417,879                235,614
Notes payable due within one year           425,029                435,366
                                         ----------             ----------
     Total Current Liabilities            1,123,183                941,615
                                         ----------             ----------
Long Term Liabilities
   Notes payable due after one year          93,921                107,952
                                         ----------             ----------
     Total Liabilities                    1,217,104              1,049,567
                                         ----------             ----------

Stockholders' Equity
  Capital stock, par value $.03:
  30,000,000 shares authorized:
  12,883,387 shares issued and
  outstanding as of Sept. 30, 2006 and
     12,867,250 shares issued and
outstanding as of December 31, 2005         429,413                428,869
   Additional paid-in capital             1,890,307              1,875,888
   (Accumulated deficit)
      retained earnings                  (1,982,886)           (1,817,884)
                                         ----------             ----------
     Total Stockholders' Equity             336,834                486,873
                                         ----------             ----------
Total Liabilities and
  Stockholders' Equity                   $1,553,938             $1,536,440
                                         ==========             ==========


                              See Accompanying Notes

<page>

                  Original Sixteen to One Mine, Inc.
             Statement of Operations and Retained Earnings


                  Three Months Ending Sept. 30,    Nine Months Ending Sept. 30,
                             2006            2005           2006           2005
                           ------          ------          ------         -----
Revenues:
  Gold & jewelry sale s    $    83,011 $  110,426   $     462,181   $   387,910
                           -----------   -----------      --------     --------
     Total revenues             83,011    110,426         462,181       387,910
                            -----------   -----------    --------      --------
Operating expenses:
  Salaries and wages            16,854     52,885          52,995       144,415
  Contract Labor               159,680     89,027         306,811       330,096
  Telephone & utilities         12,959     25,357          29,471        70,854
  Taxes - property & payroll     8,245     10,422          24,375        30,517
  Insurance                      1,162        905           2,146         1,949
  Supplies                      13,120      1,237          29,849        17,290
  Small equipment & repairs      3,063        0             6,062        23,546
  Drayage                       16,940      5,306          42,606        20,289
  Corporate expenses             1,000      1,154          12,488         8,417
  Legal and accounting           3,844      5,809           7,254        11,435
  Compliance/Safety             12,156      4,842          24,589         8,907
  Depreciation & amortization    8,169      7,324          27,229        21,548
  Other expenses                  830      2,308            5,763        13,018
                           ----------   ----------        -------       -------
  Total operating expenses     258,022    206,576         571,638       702,281
                          ----------    ----------       --------      --------
Profit (Loss) from operations (175,011)   (96,150)      (109,457)     (314,371)

Other Income & (Expense):
  Other income (expense)      (26,206)    (25,631)       (54,744)      (52,529)
                         ----------    -----------       -------       --------
Profit (Loss) before taxes   (201,217)    (121,781)     (164,201)     (366,900)
                         ----------    -----------     ---------     ----------
Income tax benefit (expense)  (800)                         (800)        (800)
                         ----------    -----------     ---------     ----------
Net profit (loss)      $   (202,017)  $  (121,781) $    (165,001)   $ (367,700)
                       ============    ===========     ==========    ==========

Basic and diluted (loss)
 earning per share     $     (.016)   $     (.009)  $        (.013) $     (.03)
                      ============    ============      =========     =========
Shares used in the
calculation of net
(loss) income per share  12,883,387    12,867,250       12,883,387   12,867,250
                       ============    ===========      ==========  ===========


                              See Accompanying Notes

<page>


                      Original Sixteen to One Mine, Inc.
                           Statement of Cash Flows
         Nine Months Ended Sept. 30, 2006 and Sept. 30, 2005

                                             Nine Months Ended Sept. 30,
                                               2006                   2005
                                         --------------         --------------
Cash Flows From Operating Activities:

Net profit (loss)
  Operating activities: )                     $ (165,001)          $ (367,700)
     Depreciation and amortization                 27,229              21,548
     (Increase)Decrease in
        accounts receivable                           247              1,052
     Decrease(Increase) in inventory              (34,300)            313,492
     (Increase)Decrease in other
       current assets                                (119)              (807)
     (Decrease) increase in accounts payable
       and accrued expenses                          9,839            (7,117)
    (Decrease) increase in short term notes        171,928             65,239

                                              ------------          ----------
  Net cash (used) provided by
     operating activities                            9,793              25,707
                                              ------------         -----------

Cash Flows From Investing Activities:

  Purchase of mining property                           -          (124,750)
  Purchase of fixed assets                             -           (18,750)
  Other assets bonds misc. deposits                    -                  -
                                              -----------        -----------

  Net cash (used) provided by
    investing activities                              -            (143,500)
                                               -----------        -----------

Cash Flows From Financing Activities

  Increase (decrease) bank overdraft                 (200)
  Increase (decrease) notes payable               (14,031)         109,480
  Proceeds from sale of common stock                  544
  Additional paid-in capital                      (14,419)
                                                -----------      ------------
  Net cash provided (used) provided by
    financing activities                             732            109,480
                                               ------------     ------------

  (Decrease) increase in cash                         10,525         (8,313)

Cash, beginning of period                               0             9,857
                                                ------------       ----------
Cash, end of period                              $    10,525    $     1,544
                                               ============      ============

Supplemental schedule of other cash flows:

  Cash paid during the period for:

    Interest expense                         $     57,698       $     45,002
                                             ============       ============
    Income taxes                             $        800       $       800
                                             ============
    ============

                              See Accompanying Notes
<page>

                        NOTES TO THE FINANCIAL STATEMENTS

I.  GENERAL NOTES

1.  In accordance with directive from the Securities and Exchange Commission
(SEC)and Industry Guide 7, reference for all intent and purposes to the
Company's employees as miners, its properties as mines or its operation as
mining does not diminish the fact that the Company has no proven reserves and
is in the "exploration state" as defined in Guide 7(a)(4)(iii).


2. In the opinion of management, the financial statements contain all
adjustments (consisting only of normal recurring accruals) necessary to present
fairly the Company's financial position at September 30, 2006 and December 31,
2005, the results of operations and cash flows for the three-month & nine-month
periods ended Sept. 30, 2006 and 2005.  The unaudited financial statements
have been prepared in accordance with Generally Accepted Accounting Principles
for interim financial information and with the instructions to Form 10-QSB
and Item 310(b) of Regulation S-B.

II.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF PLAN OF OPERATION

The Sixteen to One mine in the Alleghany Mining District is a unique mine and
requires a unique operation, which has been recognized by its owners, its
miners, geologists, engineers, and some public agencies during the last decade
of the twentieth century and to the present.  It is a traditional high-grade,
hard rock, underground gold mine.  According to statement by the federal Mines
Safety Health Administration, it is the only underground single product (gold)
mine in production in the United States today.  The same company owns and
operates the mine.  Original Sixteen to One Mine Inc, (owner) was incorporated
in California in 1911.  Experts estimate that less than twenty percent of the
proven and probable ore deposit has been mined.  Production is approximately
1,500,000 ounces of gold.

There are over twenty-eight miles of horizontal workings and millions of cubic
feet of vertical excavations called stopes.  The entire grounds are not
maintained for mining.  Once an area is targeted for exploration or
development, travel ways and escape routes are brought into safety compliance.
Personell set up a heading (face) and begin a drill-blast-muck sequence into
the quartz.  Gold is hosted in the quartz vein in exceedingly rich
concentrations called "pockets".  Metal detectors are regularly used
underground as a tool for guiding the direction of the work.  Metal detectors
are also used as a tool to separate the ore underground.  This has the positive
affect of reducing the volume of material from the mine, thereby reducing cost.
In 1992, the company initiated a gold marketing plan of selling gold in quartz
as a gemstone.  This produces revenue significantly greater than selling gold
into the spot market.  Demand for the Sixteen to One gold-in-quartz gemstone
exceeds supply.

Production has been termed a "feast or famine" situation for over 100 years.
Reserves in a high-grade gold mine cannot be termed as "proven".  The company
hoards gold and sells it according to short-term cash needs.  This fact
requires an operator to manage its cash flow to operate between pockets.  It is
difficult to undertake major expansion plans with an uncertain supply of
capital.  The Company has announced general plans to build a new shaft in the
northern section of its patented claims.



BALANCE SHEET COMPARISONS

For the nine month period ended September 30, 2006 current liabilities
increased by $181,568 (19%) as the Company borrowed funds to maintain its
operation.  Stockholders equity decreased by $150,039 (31%) due to expenses
exceeding revenues.  Other changes to the balance sheet were insignificant.

STATEMENT OF OPERATIONS

Revenues for the three-month period ended Sept. 30, 2006 decreased by $27,415
(25%) compared to the same period in 2005 due to a lack of gold production.
Revenues increased by $74,271 (20%) for the nine-month period ended Sept. 30,
2006 compared to the same period in 2005 due to increased sales and higher
gold prices.

Changes in the Company's operating expenses are reflected as follows:

1. For the three and nine-month periods ended Sept. 30, 2006 wages & salaries
decreased by $36,031 (68%) and $91,420 (63%) respectively compared to the same
periods in 2005 due to the conversion of the office staff and gold sales staff
to employment with sub-contractor Morning Glory Gold Mines.

2. Contract labor increased by $70,653 (79%) for the three-month period
ended Sept. 30, 2006 compared the same period in 2005 due to increased activity
at the mine.  For the nine-month periods the change is insignificant.

3. For the three and nine-month periods ended Sept. 30, 2006 utilities expense
decreased by $12,398 (49%) and $41,383 (58%) respectively compared to the
same periods in 2005 due to decreased pumping.

4.  Property and Payroll taxes for both the three-month and the nine-month
periods ended September 30, 2006 decreased by 20% due to decreased payroll
taxes.  (See #1 above)

5. For the three-month period ended Sept. 30, 2006 supplies expense increased
by $11,883 (960%) due to a significantly up scaled operation in 2006.  For the
nine month period ended Sept. 30, 2006 supplies expense increased by $12,559
(72.6%) compared to the same period in 2005 for the same reason.

6.  Small equipment and repairs increased by $3,063 for the three months
ended Sept. 30, 2006 and increased $17,484 (74%) for the nine-month period due
to increased activity at the mine.

7.  For the three and nine-month periods ended Sept. 30, 2006 drayage increased
by $11,634 (219%) and $4,071 (48%) respectively due to increases in fuel costs
and increased activity at the mine.

8.  For the nine-month period ended September 30, 2006 corporate expenses
decreased by $4,071 (48%) due to less board meetings.  For the three month
period the change was insignificant.

9.  For the three and nine-month periods ended Sept. 30, 2006 legal and
accounting  decreased by $1,965 (34%) and $4,181 (36.5%) respectively due to
....

10.  For the three and nine-month periods ended Sept. 30, 2006 compliance and
safety increased by $7,314 (151%) and $15,682 (176%) due to payment of
penalties settled out of court and increased activity at the mine.   ???

11.  For the three-month period ended Sept. 30, 2006, the Company recorded a
loss of $202,017 compared to a loss of $121,781 for same period in 2005 the
$80,236 (66%)difference is due primarily to increased activity resulting in
higher expenses and a lack of production.  For the nine-month period ended
September 30, 2006 the company recorded a loss of $165,000 compared to a loss
of $367,698 for the same period in 2005 the $202,698 (55%) difference is due to
a downsized operation in the first half of 2006 as well as increased gold
prices.

SUBSEQUENT EVENTS

On October 6, 2006 a small bunch of high grade gold was inventoried.  Its slab
value was estimated at $200,000.  Additional production in October yielded
approximately another $50,000 worth of gold quartz gem-stone material.

LIQUIDITY AND CAPITAL RESOURCES

The Company's liquidity is substantially dependent upon the results of its
operations.  Because of the unpredictable nature of the gold mining business,
the Company cannot provide any assurance with respect to long-term liquidity.
In addition, if the Company's operation does not produce meaningful additions
to inventory, the Company may determine it is necessary to satisfy its working
capital needs by selling gold in bullion form.

The Company is dependent on continued recovery of gold and sales of gold from
inventory to meet its cash needs.  Although the Company has historically
located an annual average of $848,000 of gold over a five year period, there
can be no assurance that the Company's efforts in any particular period will
provide sufficient funding for the Company to continue operations.

If the Company's cash resources are inadequate and its gold inventory is
depleted, the Company may seek debt or equity financing on the most reasonable
terms available.

PART II

LEGAL PROCEEDINGS

1. Plaintiff in Superior Court of the State of California, County of Sierra
against private lawyers and their employer.  Case filed February 13, 2004.
Case No. 6293, Complaint for Damages (Malicious Prosecution, Intentional
Infliction of Emotional Distress, Intentional Interference with Perspective
Advantage).  Defendants appealed their loss of an anti slap motion to the
California Appeals Court, Third District.

OTHER INFORMATION

The unaudited interim consolidated financial statements of Original Sixteen to
One Mine, Inc. (the Company) have been prepared by management in accordance
with generally accepted accounting practices.  Such rules allow the omission of
certain information and footnote disclosures normally included in financial
statements prepared in accordance with generally accepted audited accounting
principles as long as the statements are not misleading.

In the opinion of management, verified by signature below, all adjustments
necessary for a fair presentation of these interim statements have been
included.  These adjustments are of a normal recurring nature.

The preparation of the Company's financial statements in conformity with
accounting principles accepted in the United States requires management to make
estimates and assumptions.  These estimates and assumptions affect the reported
amounts of assets and liabilities and disclosure of contingent liabilities at
the date of the financial statements, as well as the reported amount of
revenues and expenses during the reporting period.  On an ongoing basis,
management evaluates its estimates and assumptions; however, actual amounts
could differ from those based on such estimates and assumptions.  No accounting
principle upon which the Company's financial status depends, requires estimates
of proven and probable reserves and/or assumptions of future gold prices.
Commodity prices may significantly affect the company's profitability and cash
flow.  No independent accounting firm or auditors have any responsibility for
the accounting and written statements of the Form 10-QSB.

The Company and its president assume responsibility for the accuracy of this
filing and certify the financial statements present fairly in all material
respects, the financial position of Original Sixteen to One Mine, Inc. at
September 30, 2005.


CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE
PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

From time to time the Original Sixteen to One Mine, Inc.  (the Company), will
make written and oral forward-looking statements about matters that involve
risks and uncertainties that could cause actual results to differ materially
from projected results.  Important factors that could cause actual results to
differ materially include, among others:

- Fluctuations in the market prices of gold
- General domestic and international economic and political
  conditions
- Unexpected geological conditions or rock stability conditions
  resulting in cave-ins, flooding, rock-bursts or rock slides
- Difficulties associated with managing complex operations in remote areas
- Unanticipated milling and other processing problems
- The speculative nature of mineral exploration
- Environmental risks
- Changes in laws and government regulations, including those
  relating to taxes and the environment
- The availability and timing of receipt of necessary governmental
  permits and approval relating to operations, expansion of operations,
  and financing of operations
- Fluctuations in interest rates and other adverse financial market conditions
- Other unanticipated difficulties in obtaining necessary financing with
  specifications or expectations
- Labor relations
- Accidents
- Unusual weather or operating conditions
- Force majeure events
- Other risk factors described from time to time in the Original Sixteen to One
Mine, Inc., filings with the Securities and Exchange Commission

Many of these factors are beyond the Company's ability to control or predict.
Investors are cautioned not to place undue reliance on forward-looking
statements.  The Company disclaims any intent or obligation to update its
forward-looking statements, whether as a result of receiving new information,
the occurrence of future events or otherwise.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

ORIGINAL SIXTEEN TO ONE MINE, INC.
(Registrant)

/s/Michael M. Miller
President and Director
Dated:  November 9, 2006